An article published on Law360.com reported that K&L Gates asked the PA Supreme Court to review a lower court’s decision reviving a $500 million malpractice case by the liquidating trustee of Le-Nature’s accusing the firm of failing to uncover massive fraud at the now-defunct company.
GE Energy Financial Services served as lead arranger of a $107 million senior secured credit facility for two gas-fired power plants managed by private equity firm Tenaska Capital Management.
Avenue Bank announced five new promotions in the Nashville branches including Andy Moats and John Moore who were named bank group director and senior vice president, respectively.
The Alliance of M&A Advisors and The CFO Alliance announced a new business affiliation to better drive the individual and corporate performance of middle-market companies.
Holsted Marketing, a New York-based multi-channel direct-marketing company, filed a Chapter 11 case in the U.S. Bankruptcy Court for the Southern District of New York. Rosenthal & Rosenthal is acting as secured lender to Holsted Marketing.
First Capital provided a $12.75 million asset-based lending facility to California TrusFrame, a manufacturer of engineered and prefabricated roof-truss, floor truss and wall panels serving all of California, Nevada and Arizona.
Provident Bank said it hired Peter J. Dawson to lead a new commercial banking team in New Jersey. Dawson, who was previously with HSBC, joins the firm as senior managing director.
Salus Capital Partners provided a $30 million senior secured working capital facility to China Pearl, a seller of a catalog of pearls to nearly 10,000 retailers across the United States. The financing will be used to provide working capital for general corporate purposes.
Summit Financial Resources has provided $8 million in working capital solutions to companies across the country.
Catalyst Paper announced it named a new board of directors that were selected by some of its senior secured and unsecured noteholders in accordance with the terms of the court-sanctioned second amended Plan of Arrangement.