News

Gordon Brothers has been engaged on an exclusive basis to offer for sale by private treaty the Tek-Ocean Spirit, a multi-purpose platform supply vessel, on behalf of Barry Wight and Daniel Juratowitch of Cor Cordis, the administrators of Tek-Ocean Group.

White Oak Commercial Finance provided a $20 million factoring facility to a telecommunications company. The facility will allow the company to continue its growth and its supplying of tablets and data to qualified consumers under the Affordable Connectivity Program.

Small business loan approval rates at big banks (more than $10 billion in assets) dropped from 13.4% in June to 13.3% in July, according to Biz2Credit’s Small Business Lending Index. Meanwhile, approval rates at smaller banks and non-bank lenders increased.

Global M&A Network named A&G Real Estate Partners Real Estate Restructuring Firm of the Year as part of its 15th Annual Turnaround Atlas Awards

Yellow Corporation and certain of its direct and indirect subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware for the company’s planned operational wind-down.

Tupperware Brands finalized an agreement with its lenders to restructure its existing debt obligations, improving the company's overall financial position by amending certain credit obligations and extending the maturity of certain debt facilities to allow it to continue with its...

There were 362 commercial Chapter 11 filings registered in July 2023, an increase of 71% from the 212 filings registered in July 2022, according to data provided by Epiq Bankruptcy.

TIAA completed the sale of TIAA Bank to private investors with experience in financial services and will now officially begin operating once more as EverBank under a new national bank charter. Terms of the transaction are not being disclosed.

A new survey from Stifel Financial and Eaton Partners indicates a majority of institutional investors have no plans to change their private equity allocations over the next 12 months despite perceived headwinds, including tightening credit and a possible economic recession.

NFI Group received an extension for the completion of the required amendments and financial covenant waivers under its existing North American senior secured credit facility to Aug. 25 and Aug. 31, respectively, to support the completion of its refinancing plan.