News

The U.S. Bankruptcy Court confirmed the amended joint Chapter 11 plan of reorganization of Parker Drilling and its debtor affiliates. Alvarez & Marsal will serve as the company’s financial advisor during the bankruptcy process.

Monroe Capital acted as sole lead arranger and administrative agent on the funding of a senior credit facility to support the acquisition of Protos Security and Securitime by private equity sponsor Southfield Capital.

David A. Scherl will be stepping down as Morrison Cohen’s chairman and managing partner and will instead assume the role of chairman emeritus at the law firm.

J D Factors provided $2.075 million in factoring facilities for five clients the week of March 4, 2019.

CTI Foods filed for voluntary petitions under Chapter 11 in order to implement its financial restructuring plan. Barclays Bank and Wells Fargo will provide the company with $155 million in DIP financing to support it through the restructuring.

The Commercial Finance Association Education Foundation released the findings of a comprehensive study of the scope and impact of the secured commercial finance market in the U.S.

Home décor retailer Z Gallerie filed voluntary petitions to restructure under Chapter 11. The company’s existing secured lender, KeyBank, will provide it with a $28MM DIP facility to support it through the bankruptcy process.

Liquid Capital provided $2.35 million in factor facilities as of February 28, 2019.

Utica Leaseco completed a $550,000 capital lease during the week of March 4, 2019.

Nationwide expanded its relationship with online small business lending company BlueVine by offering BlueVine's fast and flexible financing to small businesses through Nationwide's Business Solutions Center.