Today’s News

    Sears Restructuring Team Sues Lampert

    Reuters reported the restructuring team winding up the Sears bankruptcy estate filed suit against former chair Eddie Lampbert, claiming his hedge fund illegally drew billions of dollars from the company before it entered Chapter 11.

    Barclays Agents Up to $155MM DIP for CTI Foods

    The U.S. Bankruptcy Court for the District of Delaware has confirmed CTI Foods’ plan of reorganization. Barclays Bank and Wells Fargo are providing an $80 million ABL revolver and a $75 million term loan to support the restructuring.

    Credibility Capital Surpasses $100MM in Funding, Expands Team

    Fintech lender Credibility Capital has surpassed $100 million in lending to small businesses across the country. The company has also expanded its team, adding Dennis Carlson as CRO and Jordan Schiffer as head of Engineering.

    Cerberus Closes $5.1B of Commitments for Global NPL Strategy

    Cerberus Capital Management has closed approximately $5.1 billion of commitments for its global non-performing loan (NPL) strategy.

    Proskauer Adds Hillman to Bolster Business Solutions Team

    Restructuring expert David Hillman will be joining Proskauer’s Business Solutions, Governance, Restructuring & Bankruptcy Group.

    Buran Venture Capital Rebrands, Launches $56MM Venture Debt Fund

    Buran Venture Capital has rebranded as Flashpoint and launched a new €50 million ($56 million) venture debt fund. Michal Jozwiak will be the managing partner of Flashpoint Venture Debt.

    BofAML Provides $10MM Revolver to CUI Global

    CUI Global has closed on a two-year revolving line of credit facility of up to $10 million with Bank of America Merrill Lynch.

    Investissement Québec Completes $221K Loan for First Equity

    First Equity Strategy, a subsidiary of Mobi724, has concluded a $221,600 loan with Investissement Québec collaterized against FES’s development of e-business tax credits for 2018.

    CIBC Adds Rosenstrauch to San Francisco ABL Team

    CIBC named Derek Rosenstrauch managing director of Business Development, Northern California Region, for its Asset-based Lending Group.

    Encina Provides $57MM Revolver to Concrete Manufacturer

    Encina Business Credit provided a $57.5 million senior secured revolving credit facility to a manufacturer and supplier of concrete construction products.