 | | Featured Premium Content | | | | | Debtwire: Sunnova Entertains Bridge Loan to Bankruptcy Proposal
An ad-hoc group of creditors to Sunnova is discussing a proposal to provide the residential solar company with a USD 20m new money bridge loan to shore up liquidity ahead of an expected bankruptcy filing, according to a Debtwire report. The bridge loan, along with USD 40m of existing unsecured debt, is expected to be rolled into a debtor-in-possession facility to finance the liquidity-strapped company in bankruptcy, said two sources familiar with the matter. READ MORE | | | | | SPONSORED CONTENTDefault Rate May Not Tell the Whole Story The expected increase in loan defaults in 2024 never materialized. But while corporate credit health appears strong on the surface, there are signs of potential weakness underneath. This article examines current trends to help you stay informed about silent loan defaults, private credit default trends, impacts on maturities, and more. READ MORE | | |  | | Editor's Picks | | | | | Bankruptcies and Layoffs Slam Wide Range of Transportation Companies
Layoffs and bankruptcies hit multiple sectors of the supply chain throughout April, as new or soon-to-be-imposed tariffs continue to weigh on freight markets. Truck & Trailer Leasing Avenue of Joliet, Ill., was among the companies in finical distress. It filed for chapter 11 protection on April 16 listing both assets and liabilities of $10 million-$50 million. READ MORE | | McFarlin Emerges as Lone Suitor for Price Tower: Court Moves to Approve $1.4M Sale
With no competing bids submitted by the April 28 deadline, a federal bankruptcy court is moving forward with the $1.4 million sale of Bartlesville’s (Okla.) historic Price Tower to McFarlin Building LLC, the Bartlesville Examiner-Enterprise reported. The deal, first outlined in court filings earlier this month, was confirmed in a motion filed on Monday by chapter 7 Trustee Patrick J. Malloy III. Despite notice being sent to more than 900 potential bidders, no counteroffers or objections were received by the deadline. READ MORE | | Prison Health Company Wellpath Wins Bankruptcy Exit Approval
Prison health-care company Wellpath Holdings Inc. gained bankruptcy court approval of its plan to resolve hundreds of tort claims despite concerns from some self-represented junior creditors, Bloomberg Law reported. Ensuring current and formerly incarcerated people and families of deceased prisoners are aware of the deal was a concern, but Wellpath has done as much as it could to notify them, Judge Alfredo R. Perez of the U.S. Bankruptcy Court for the Southern District of Texas said during a Wednesday hearing. (Subscription required.) READ MORE
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June 17 | New York, N.Y. | | | | |  | | Daily Roundup | | | | | La Vista Brewery Files for Chapter 11 During 'Uncertain Times'
Nebraska Brewing Company said it has decided to file for a strategic restructuring under chapter 11, KETV.com reported. The La Vista beer maker has been in business for more than 18 years and has won multiple awards. In the Facebook post, the owners said times are uncertain with economic and supply chain issues. They added that this restructuring will let them continue normal taproom hours and regular distribution, so you will still see their beers in grocery stores and local bars. READ MORE | | West Palm Beach Steps In as Condo Complex Faces $1.4M Water Bill, Bankruptcy Proceedings
The city of West Palm Beach had notified residents at a local community that their condominium association had not been paying their water bill and the city would turn off the water on Monday, April 28. That situation has now changed, according to CBS12.com reported. According to the city, Green Terrace Condominiums, 2800 Georgia Avenue, has declared bankruptcy, which means the water won't be shut off for at least another 30 days. READ MORE | | U.S. Economy Shrinks 0.3% in First Quarter as Trump Trade Wars Disrupt Businesses
The U.S. economy shrank at a 0.3% annual pace from January through March, the first drop in three years, as President Donald Trump's trade wars disrupted business, the Associated Press reported. First-quarter growth was slowed by a surge in imports as companies in the United States tried to bring in foreign goods before Trump imposed massive tariffs. READ MORE | | Damon Dash’s Lawyers Withdraw From Representation Amid Bankruptcy And $4 Million Legal Battle With Filmmaker
Damon Dash's lawyers have withdrawn from representing him amid his $4 million legal battle with filmmaker Josh Webber, and as he prepares to file for bankruptcy, Vibe reported. AllHipHop obtained court documents showing that Dame’s attorneys submitted paperwork to the U.S. District Court on Monday (April 28) expressing their desire to step away, explaining that the music executive refused to “cooperate with court-ordered asset disclosure.” They also claimed that Dash told them that “responding would be futile” because he was filing for bankruptcy, and everyone should wait for that process to play out. READ MORE | | U.S. Private Employers Add 62,000 Jobs in April Amid 'Difficult' Hiring Environment
Private employers added fewer jobs than expected in April as a sense of "unease" led to a slowdown in hiring and investors watch for signs that tariffs are weighing on economic growth, the Associated Press reported. On Wednesday, data from ADP showed private payrolls grew by just 62,000 in April, far fewer than the 115,000 expected by economists and below the 147,000 new jobs added in March. This marked the smallest increase in private payrolls since July 2024. READ MORE | | | | |
