News

The Federal Reserve announced on Wednesday that it will maintain the target range for the federal funds rate at 5% to 5.25%, noting that economic activity and job gains have expanded since it last raised rates in early May.

The U.S. Bankruptcy Court for the Southern District of Texas approved the first day motions Instant Brands filed in relation to its Chapter 11 filing earlier this week, including authorizing the company to access more than $250 million in debtor-in-possession...

According to a survey sponsored by Carl Marks Advisors, rising inflation, persistent labor shortages and a desire to improve capital structures are among the key factors leading middle-market companies to seek alternative financing options.

Norton Rose Fulbright advised a committee of secured creditors on the restructuring of international shipping company Vroon. The restructuring was completed on June 12. This was the first restructuring to be carried out using a parallel English scheme of arrangement and...

Instant Brands filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. Additionally, the company appointed Adam Hollerbach, partner and managing director at AlixPartners, chief restructuring...

Hidden River Strategic Capital, a Philadelphia-based investment firm, closed its inaugural fund, Hidden River Strategic Capital I, with $245 million of committed capital, which was above its initial target.

Hilco Real Estate chose July 12 as the qualified bid deadline for the Chapter 11 bankruptcy sale of a turnkey ice-skating complex in Sherwood, OR.

Citizens Financial Group accelerated its private banking growth strategy with the addition of approximately 50 new senior private bankers and related support staff in Boston, Florida, New York and San Francisco. Many of the new team members were formerly with...

Lucky Bucks, a class B coin operated amusement machine (COAM) operator in Georgia, and its parent, Lucky Bucks HoldCo, completed a recapitalization transaction with the support of its secured lenders holding more than 86% of its secured debt.

Second Wind Consultants restructured a telecommunications infrastructure client of Emigrant Bank so the client could avoid formal liquidation. Through the restructuring, Second Wind Consultants increased Emigrant Bank’s recovery from $800,000 to $2 million.