News

Commercial Chapter 11 bankruptcy filings increased 72% to 6,569 in 2023 from the previous year’s total of 3,819, according to data provided by Epiq AACER, a provider of U.S. bankruptcy filing data.

Wolters Kluwer launched an expert solution aimed at helping the nearly 33 million U.S. businesses impacted by the beneficial ownership reporting rule under the Corporate Transparency Act.

In a 2024 outlook report, Mitsubishi UFJ Financial Group’s U.S. macro strategy team looked at the various economic scenarios for 2024, writing that the best case is a mild U.S. recession — a bumpy landing — for next year.

Marco provided a factoring facility to Spectron Systems Technology, a Hauppauge, NY-based company that has specialized in designing and creating tilt sensors and inclinometers since 1947.

Investment-as-a-service global asset allocation platform Hi2 Global entered into a partnership with Percent, a financial technology company focused on the private credit markets, to reshape the landscape of private credit transactions.

According to the National Federation of Independent Business, 80% of small business owners accessing credit in the last three months reported high interest rates as their largest financing complaint, a significant increase from July (58%).

CNBC reported that Citigroup will eliminate its distressed debt unit. CNBC noted that the closure of the unit is the latest move in the planned “overhaul of the bank” being led by Jane Fraser, the bank’s CEO.

Haversine Funding closed $35 million in new lender finance loans in Q4/23. The quarter's transactions included an array of funding solutions across multiple sectors, including a $15 million senior line of credit for a factoring company specializing in oilfield services.

Air Methods, a provider of air medical services in the U.S., emerged from Chapter 11 bankruptcy. As a result of the restructuring process, Air Methods reduced its total debt by approximately $1.7 billion.

Richard J. Giusto and Alan T. Dimond, shareholders in global law firm Greenberg Traurig's Miami office, have been named winners of Connect CRE's 2023 Lawyers in Real Estate Awards.