 | | Featured Premium Content | | | | | Debtwire: If Sunnova Pursues an In-Court Restructuring, SunPower’s Chapter 11 May Shed Light on What to Expect
In this article, the Debtwire legal analyst team discusses what a possible chapter 11 filing could entail for solar company Sunnova Energy given its operations and uniquely complex capital structure. In doing so, we review SunPower’s comparable bankruptcy filing last year and discuss how that case might provide a roadmap for a Sunnova bankruptcy filing – i.e., the extent to which a chapter 11 case could involve a restructuring, asset sales, wind down or a combination thereof, and how special purpose entities (SPEs) could be treated. READ MORE | | | | | SPONSORED CONTENTPrivate Credit and BSLs: Friends or Foes?With private credit and broadly syndicated loans (BSLs) competing for dominance, the lending landscape is in flux. But can these markets ultimately work hand in hand? SRS Acquiom, in partnership with Debtwire, surveyed 200 senior executives from alternative asset management firms across Europe and the U.S. to uncover the true dynamics of these two critical markets. Download the Report | | |  | | Editor's Picks | | | | | Bankrupt 23andMe’s DNA Data Gets Nod for Sale as Concerns Linger
Bankrupt genetic testing firm 23andMe Holding Co. won permission from a judge to try to sell information about customers’ medical and ancestry-related data, a trove that is considered the most valuable asset in the insolvency case — and has become a source of privacy and safety concerns amid the company’s collapse, Bloomberg News reported. Under the sale procedures, the company set quick deadlines for potential bidders, including May 7 when definitive offers are due, and a final hearing the following month. But U.S. Bankruptcy Judge Brian C. Walsh required the company to slow the overall pace by two weeks, in part to accommodate his schedule and in part to give creditors a chance to weigh in before the court makes a final decision on a buyer. READ MORE | | NY Fed Details Likely Looming Rise in Troubled Student Loan Borrowing
The end of various pandemic-era student loan support programs likely portends a rise in credit issues for borrowers, although it will take time to understand the full extent of the problem, New York Federal Reserve researchers said on Wednesday, Reuters reported. “We expect to see more than nine million student loan borrowers face substantial declines in credit standing over the first quarter of 2025,” the regional Fed bank said in a blog posting. READ MORE | | CFPB Seeks to Vacate Discrimination Case It Had Already Won
The top U.S. consumer finance agency on Wednesday asked a court to undo an enforcement case which the watchdog had already won last year, accusing prior agency officials of abusing their power as they sought to enforce diversity, equity and inclusion in lending, Reuters reported. Following a case initially brought in 2020 during President Donald Trump's previous administration, the Consumer Financial Protection Bureau in November won a settlement with the Chicago mortgage lender Townstone Financial, which the agency had accused of racial discrimination in the marketing of loans. "CFPB abused its power, used radical 'equity' arguments to tag Townstone as racist with zero evidence, and spent years persecuting and extorting them — all to further the goal of mandating DEI in lending via their regulation by enforcement tactics," CFPB Acting Director Russ Vought said in a statement. READ MORE
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May 12-14 | Cartagena, Colombia | | | | |  | | Daily Roundup | | | | | Trump's SEC Pick Pledges 'Rational' Crypto Regulations
Paul Atkins, President Donald Trump's pick to run the U.S. Securities and Exchange Commission, pledged on Wednesday that regulations under his leadership would benefit the crypto sector and prevent politics from "stifling" capital formation, according to prepared testimony made public by the Senate, Reuters reported. READ MORE | | Four New Crypto Roundtables Planned by SEC: Focus on Trading, Custody, Tokenization, and DeFi
The U.S. Securities and Exchange Commission (SEC) has announced plans to host four more roundtables focusing on various aspects of crypto, including trading, custody, tokenization, and decentralized finance (DeFi), CoinMarketCap.com reported. This initiative follows the agency's first crypto roundtable, held on March 21, which aimed to clarify the regulatory landscape for digital assets. READ MORE | | U.S. Faces Payment-Default Risk in August, September, CBO Says
The Congressional Budget Office warned that the federal government could run out of enough money to pay all of its bills on time as soon as August if lawmakers fail to raise or suspend the debt limit, Bloomberg News reported. The Treasury Department has been using special accounting maneuvers since Jan. 21 to avoid breaching the $36.1 trillion debt ceiling, which kicked in at the start of the year. But the department has yet to offer specific guidance on when those measures will be exhausted. READ MORE | | Auto Tariffs Are Likely to Lead to Much Higher Car Prices
New cars will probably become much more expensive in the United States when President Trump imposes new tariffs on foreign-made cars and auto parts, the New York Times reported. Barring exceptions, tariffs of, say, 25 percent on cars and parts made in Mexico and Canada would add $3,000 even to the cost of cars assembled in the United States, said Jonathan Smoke, chief economist at Cox Automotive, a market research firm. Automakers depend on components from Mexico and Canada. READ MORE | | | | |
