 | | Featured Premium Content |
|
|
Debtwire: Del Monte Guggenheim-Led Minority Lender Group’s Post-Bankruptcy Attack on LME Settlement Payments
|
|
|
At Del Monte’s first day hearing, Allan Brilliant, co-chair of Dechert’s financial restructuring practice and counsel to the minority group, mentioned that the group may be considering whether approximately USD 105.8m in payments that Del Monte made to settle litigation over a liability management exercise (LME) could be recoverable as preferential transfers. In this article, the Debtwire legal analyst team lays out the minority group’s holdings and discusses the LME transaction, ensuing litigation and ultimate settlement. READ MORE
|
|
|
SPONSORED CONTENT
New Insights from the Rise of Private Credit
How could the ongoing growth of private credit impact borrowing, investing, and lending strategies? Explore the insights in this deep dive from SRS Acquiom, including the latest data from 2025. Explore the Insights
|
|
|
 | | Editor's Picks |
|
|
Del Monte Tweaks Auction Rules to Attract Bids for Food Canner
|
|
|
Bankrupt canned fruit company Del Monte Foods won court permission to hold an auction of its assets after giving potential bidders more time to make an offer, Bloomberg News reported. Company officials agreed to rewrite the rules governing the auction after creditors said they were concerned the sale process was not open enough to outsiders, Del Monte lawyer Rachael Ringer said during a court hearing Tuesday. READ MORE
|
|
|
All ABI Books 50% Off Through Midnight!
|
|
|
Through midnight August 13 (EDT), ABI is offering 50% off all purchases at store.abi.org! Take advantage of this incredible limited-time offer by using coupon code ABISUMMER50 at checkout.
|
|
|
TPI Composites Files for Chapter 11 Protection
|
|
|
Wind blade manufacturer TPI Composites Inc. filed for Chapter 11 bankruptcy protection to pursue a comprehensive financial restructuring, Investing.com reported. The company, along with its domestic subsidiaries, commenced voluntary bankruptcy proceedings in the U.S. Bankruptcy Court for the Southern District of Texas. TPI has reached an agreement with its senior secured lenders, including funds managed by Oaktree Capital Management, for a debtor-in-possession financing facility of up to $82.5 million to support operations during the restructuring process. READ MORE
|
|
|
Kodak Cautions there's 'Substantial Doubt' About Its Ability to Stay in Business
|
|
|
The more than 130-year-old Eastman Kodak Co. is cautioning that there's “substantial doubt” about its ability to stay in business, saying it may have difficulty meeting upcoming debt obligations, the Associated Press reported. The Rochester, N.Y.-based company said that it had $155 million of cash and cash equivalents as of June 30, with $70 million held within the U.S. READ MORE
|
|
|
 | | Upcoming Events |
|
|
"Navigating the Complexities of Retirement Plan Terminations"
|
|
abiLIVE Webinar spoonsored by Inspira Financial
September 4
|
|
|
Bankruptcy 2025: Views from the Bench
|
|
The National Press Club
September 26 | Washington, D.C.
|
|
|
 | | Daily Roundup |
|
|
Do Kwon Pleads Guilty to U.S. Fraud Charges in $40 Billion Crypto Collapse
|
|
|
Do Kwon, the South Korean cryptocurrency entrepreneur behind two digital currencies that lost an estimated $40 billion in 2022, pleaded guilty on Tuesday to two U.S. charges of conspiracy to defraud and wire fraud, Reuters reported. Kwon, 33, who co-founded Singapore-based Terraform Labs and developed the TerraUSD and Luna currencies, entered the plea at a court hearing in New York before U.S. District Judge Paul Engelmayer. READ MORE
|
|
|
City of Isleton Seeks $800,000 Loan from Sacramento County to Avoid Bankruptcy
|
|
|
The Isleton City Council will send a loan request to the Sacramento County Board of Supervisors to avoid filing for bankruptcy or ceasing operations entirely, CBSNews.com reported. On Tuesday night, the council voted to send a two-page letter to county leadership outlining the city's need for an $800,000 loan. The request is an attempt to avoid filing for bankruptcy or defaulting on payments. READ MORE
|
|
|
Survey: One-Third Say Family’s Finances Have Worsened
|
|
|
About one-in-three U.S. adults say their family’s finances have gotten worse in the past year, while another 40 percent said it roughly stayed the same, according to a new poll, The Hill reported. The latest Yahoo Finance/Marist Poll survey, released Monday, found that 33 percent of U.S. adults said their family’s finances have deteriorated in the last year. Another 27 percent argued it has gotten better while 40 percent stated that their family’s financial conditions stayed the same. READ MORE
|
|
|
Companies Plan Stablecoins Under New Law, But Experts Say Hurdles Remain
|
|
|
Financial companies from Bank of America to Fiserv are preparing to launch their own dollar-backed crypto tokens now that a new U.S. law has established the first-ever rules for stablecoins, but experts warn the path forward could be anything but simple, Reuters reported. U.S. President Donald Trump on July 18 signed the GENIUS Act into law, setting federal rules and guidelines for cryptocurrency tokens pegged to the U.S. dollar known as stablecoins. This U.S. law, the first designed to facilitate crypto usage, could pave the way for the digital assets to become an everyday way to make payments and move money, experts said. READ MORE
|
|
|
U.S. Consumer Prices Increase Moderately; Worries About Data Quality Rise
|
|
|
U.S. consumer prices increased moderately in July, though rising costs for services such as airline fares and some tariff-sensitive goods like household furniture caused a measure of underlying inflation to post its largest gain in six months, Reuters reported. The mixed report from the Labor Department's Bureau of Labor Statistics on Tuesday did not change financial market expectations that the Federal Reserve would cut interest rates in September amid signs of a deterioration in labor market conditions. Economists, however, cautioned that higher prices from President Donald Trump's sweeping tariffs were still coming. They argued that businesses continued to sell merchandise accumulated before the import duties came into effect. READ MORE
|
|
|
Cash Held by U.S. Companies Halved Since 2021 Amid High Interest Rates, Data Shows
|
|
|
Cash allocations by U.S. corporations have halved since 2021 as elevated interest rates prompt a shift to higher-yielding treasury bills, data from Clearwater Analytics showed on Tuesday, Reuters reported. Median allocations to cash — which includes hard currency, money market funds and 90-day treasury bills — dropped to 20% at the end of July from 40% in 2021, according to a report encompassing around 800 of the investment management software maker's U.S. corporate clients with a combined $1.3 trillion in assets. READ MORE
|
|
|
U.S. July Budget Deficit Up 20% Year-over-Year Despite Record Trump Tariff Income
|
|
|
The U.S. budget deficit in July climbed 20% this fiscal year compared to the last despite the U.S. taking in record income from President Donald Trump’s tariffs, according to Treasury Department data released Tuesday, the Associated Press reported. The U.S. saw a 273% increase — or $21 billion — in customs revenue in July over the same period last year, the data showed. A Treasury official said that overall increased spending is in part due to a mix of expenditures, including growing interest payments on the public debt and cost-of-living increases to Social Security payouts, among other costs. This comes as the federal government’s gross national debt creeps up to the $37 trillion mark. READ MORE
|
|
|
|
|
