Creditor

EQS-News: AS PlusPlus Capital Progresses in Restructuring Process – Application for Approval of Restructuring Plan Submitted to Court Following Investor Voting

Retrieved on: 
Venerdì, Maggio 10, 2024
Creditor, PLUSPLUS, Financial services

PlusPlus Capital (“PPC”), a leading pan-Baltic and Finnish technology-driven receivables management group, has made significant progress in the restructuring of Aktsiaselts PlusPlus Capital (the “Parent Company”) under the Reorganization Act (“Saneerimisseadus”).

Key Points: 
  • PlusPlus Capital (“PPC”), a leading pan-Baltic and Finnish technology-driven receivables management group, has made significant progress in the restructuring of Aktsiaselts PlusPlus Capital (the “Parent Company”) under the Reorganization Act (“Saneerimisseadus”).
  • Following the broad support to the reorganization plan from the creditors, PlusPlus Capital filed an application for approval of the reorganization plan prepared in collaboration with financial and legal advisors to the court on 2 May 2024.
  • The plan received approval from investors representing approximately 95% of all claims covered by the reorganization plan.
  • Kaarel Raik, Member of the Management Board of PlusPlus Capital: “We are very pleased to see such extensive support for a reorganization plan, which is rare in Estonia, and are confident that the court will approve the reorganization plan.

Verona Pharma Announces $650 Million Strategic Financing with Oaktree and OMERS

Retrieved on: 
Giovedì, Maggio 9, 2024
Oaktree Capital Management, Sale, FDA, Sullivan & Cromwell, Oliver Cromwell, Chronic obstructive pulmonary disease, Creditor, Morgan Stanley, Patient, OMERS, VPI, Pharming, VRNA, Growth, Latham & Watkins, COPD, Pharmaceutical industry

LONDON and RALEIGH, N.C., May 09, 2024 (GLOBE NEWSWIRE) -- Verona Pharma plc (Nasdaq: VRNA) (“Verona Pharma”), announces it and its wholly-owned subsidiary, Verona Pharma, Inc. (“VPI” and together with Verona Pharma, the “Company”), have entered into strategic financing agreements providing access to up to $650 million from funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and OMERS Life Sciences (“OMERS”).

Key Points: 
  • LONDON and RALEIGH, N.C., May 09, 2024 (GLOBE NEWSWIRE) -- Verona Pharma plc (Nasdaq: VRNA) (“Verona Pharma”), announces it and its wholly-owned subsidiary, Verona Pharma, Inc. (“VPI” and together with Verona Pharma, the “Company”), have entered into strategic financing agreements providing access to up to $650 million from funds managed by Oaktree Capital Management, L.P. (“Oaktree”) and OMERS Life Sciences (“OMERS”).
  • The agreements provide non-dilutive capital and additional financial flexibility ahead of Verona Pharma’s planned US launch of ensifentrine and will support the Company’s continued growth.
  • The debt facility replaces the existing facility of up to $400 million with funds managed by Oxford Finance LLC and Hercules Capital, Inc. (NYSE: HTGC).
  • This strategic agreement, with access to up to $650 million, allows us to further strengthen our cash position and improve our financial flexibility,” said David Zaccardelli, Pharm.

TILT Holdings Secures Funding to Develop Vertical Strategy in Pennsylvania

Retrieved on: 
Giovedì, Maggio 9, 2024
Sale, Subordination, Security agreement, Commonwealth, Note, Consent, Medical cannabis, Senate, Creditor, TILT, Location, Farm, Security, Old pal, Security (finance)

Under the Commonwealth of Pennsylvania’s (the “Commonwealth”) Medical Marijuana Program, independent cultivators can apply for one permit that will allow for three dispensary locations.

Key Points: 
  • Under the Commonwealth of Pennsylvania’s (the “Commonwealth”) Medical Marijuana Program, independent cultivators can apply for one permit that will allow for three dispensary locations.
  • “We applaud the Commonwealth for providing a positive path forward for a small independent grower like TILT’s Standard Farms to compete in this vibrant marketplace,” stated TILT Chief Executive Officer, Tim Conder.
  • Under the terms of a Secured Promissory Note (the “Note”), Standard Farms can borrow up to $10,500,000.
  • Proceeds from the Note will also be utilized for the initial setup and operation of the Retail Locations.

Churchill Stateside Group Attends Southwest Mortgagee Advisory Council’s 2024 Conference

Retrieved on: 
Mercoledì, Maggio 8, 2024
Public Policy, Government, Social Services, Other Construction & Property, Climate Change, Advocacy Group Opinion, Residential Building & Real Estate, Commercial Building & Real Estate, Environment, Construction & Property, Other Energy, Urban Planning, Finance, REIT, Banking, Energy, Professional Services, Philanthropy, White House, Federal Government, Foundation, Storm, Climate change, Factorization of polynomials, Policy, CSG, Creditor, Mortgage law, Region, HUD, Letter, Wind, Senior, SWAC, FHA, Winston Churchill, MAP

The Southwest Mortgagee Advisory Council (SWAC), a non-profit industry trade group for FHA Multifamily Accelerated Processing (MAP) Lenders and third-party firms in the Southwest region, held its annual conference in Fort Worth, Texas.

Key Points: 
  • The Southwest Mortgagee Advisory Council (SWAC), a non-profit industry trade group for FHA Multifamily Accelerated Processing (MAP) Lenders and third-party firms in the Southwest region, held its annual conference in Fort Worth, Texas.
  • The event brought together industry experts and stakeholders for informative discussions and valuable networking opportunities in which members of Churchill were in attendance.
  • Keith J. Gloeckl, CEO of Churchill Stateside Group (CSG), stated “As a HUD MAP Lender, we, at Churchill, feel it is very important for our HUD staff to attend these regional meetings.
  • One item of particular importance highlighted was the release of Mortgagee Letter: 2024-05, Wind or Named Storm Insurance Coverage.

AW Properties Global and AuctionWorks Present UCC Foreclosure Sales of 100% Stock Interest to Hamptons Home and Pennsylvania Storage Facility

Retrieved on: 
Giovedì, Maggio 2, 2024
Sale, Burr, Legal Department (Hong Kong), Creditor, UCC, Attention, Auction

NORTHBROOK, Ill., May 2, 2024 /PRNewswire/ -- AW Properties Global and AuctionWorks, its auction division, announced a unique opportunity for investors to participate in the UCC Foreclosure sales of two East Coast properties.

Key Points: 
  • NORTHBROOK, Ill., May 2, 2024 /PRNewswire/ -- AW Properties Global and AuctionWorks, its auction division, announced a unique opportunity for investors to participate in the UCC Foreclosure sales of two East Coast properties.
  • These upcoming sales offer a chance to acquire 100% stock interest in the LLC or corporation holding title to the real property with exceptional potential upside.
  • The stock interest in the limited liability company holding title to Nepa Storage Solutions, LLC offers full equity interest in a self-storage facility located at 537 Stock Farm Road in Lake Ariel, PA.
  • The stock interest in the corporation holding title to Clement Holdings Owner Inc. offers equity interest in a home in the Hamptons, located at 150 Deerfield Road in Watermill, NY.

MONTGOMERY CAPITAL PARTNERS III, LP TO AUCTION THE PERSONAL PROPERTY OF P3 PURE LLC VIA PUBLIC SALE

Retrieved on: 
Mercoledì, Maggio 1, 2024
Sale, Accounts receivable, Creditor, Intellectual property, FF&E, Potential, FF, Uniform Commercial Code, Bank statement, Confidentiality, Fixture, Telephone, Security (finance)

The Inventory, Accounts Receivable, FF&E, Intellectual Property, and Intangibles are collectively referred to as the "Public Sale Collateral".

Key Points: 
  • The Inventory, Accounts Receivable, FF&E, Intellectual Property, and Intangibles are collectively referred to as the "Public Sale Collateral".
  • The Public Sale of the Public Sale Collateral, if made, shall be to the highest and best bidder.
  • The Secured Party reserves the right to credit bid on any or all of the Public Sale Collateral at the Public Sale.
  • The Secured Party reserves the right to reject all bids, adjourn or cancel the Public Sale.

VantageScore CreditGauge™ March 2024: Delinquencies Declined Month-over-Month for First Time Since 2021 Across all Days Past Due Categories as the Average VantageScore Credit Score Increased to 702

Retrieved on: 
Lunedì, Aprile 29, 2024
Credit card, VantageScore, Creditor, Health, Car, Digital, Debt-to-GDP ratio, Pressure, DPD, Credit

The average VantageScore 4.0 credit score rose from 701 to 702 in March.

Key Points: 
  • The average VantageScore 4.0 credit score rose from 701 to 702 in March.
  • The lowest VantageScore 4.0 credit score is 300, while the highest score is 850.
  • For the first time since May 2021, delinquencies fell across all Days Past Due (DPD) categories and all loan products (Credit Card, Personal Loan, Auto Loan and Mortgage) on a month-over-month basis.
  • That development was also true in the 60-89 DPD and 90-119 DPD categories, where Auto Loan delinquencies declined month-over-month by 0.13% and 0.3%, respectively.

ORIGENCE ANNOUNCES LENDING TECH LIVE SPEAKERS TO INCLUDE LEADERS FROM MICROSOFT, EXPERIAN, CATALYST, AND MORE

Retrieved on: 
Martedì, Aprile 23, 2024
AI, Creditor, Credit union, NADA, Research, Microsoft, Marketing, Risk assessment, Knowledge

Irvine, California, April 23, 2024 (GLOBE NEWSWIRE) -- Origence , the leading lending technology solutions provider for credit unions, announces breakout session speakers for its Lending Tech Live ’24 conference will include Microsoft, Experian, Catalyst, Messick Lauer & Smith and NADA leaders during its event held June 25-27, 2024 at the Marriot Marquis in San Diego, California.

Key Points: 
  • Irvine, California, April 23, 2024 (GLOBE NEWSWIRE) -- Origence , the leading lending technology solutions provider for credit unions, announces breakout session speakers for its Lending Tech Live ’24 conference will include Microsoft, Experian, Catalyst, Messick Lauer & Smith and NADA leaders during its event held June 25-27, 2024 at the Marriot Marquis in San Diego, California.
  • “As we prepare our agenda for Lending Tech Live, we always look for leaders who can spur collaboration and drive innovation among participants.
  • Lending Tech Live ’24 includes interactive workshops to improve credit union lending programs, build borrower journeys that enhance member relationships, and highlight crucial regulations for 2024, along with other key discussions.
  • Attendees will learn about the state-of-the-art tools and technologies shaping the lending landscape, lending strategies, emerging trends, research, and more.

iLearningEngines, Inc. Announces Additional Funding in Connection With Its Business Combination; Brings Gross Proceeds to Approximately $92.8 Million

Retrieved on: 
Mercoledì, Aprile 17, 2024
Creditor, Business analyst, ILe, Security

This facility brings the total gross funds raised in connection with the business combination with Arrowroot Acquisition Corp. (the “Business Combination”) to approximately $92.8 million.

Key Points: 
  • This facility brings the total gross funds raised in connection with the business combination with Arrowroot Acquisition Corp. (the “Business Combination”) to approximately $92.8 million.
  • Following the successful completion of the Business Combination, the Company’s wholly owned subsidiary, iLearningEngines Holdings, Inc. (“iLE Holdings”), entered into a Loan and Security Agreement with the Lender pursuant to which the Lender provided iLE Holdings with a new senior secured revolving credit facility in a principal amount of up to $40 million (the “Revolving Facility”).
  • The Revolving Facility also provides for an uncommitted accordion allowing iLE Holdings to increase the revolving commitments by an additional principal amount of $20 million at iLE Holdings’ option and upon Lender’s approval.
  • iLE Holdings drew the full $40 million at closing, a portion of which was used to repay in full iLE Holdings’ term loan credit facilities with Venture Lending & Leasing IX, Inc. and WTI Fund X, Inc.
    “We are pleased to have raised approximately $92.8 million in gross proceeds during our successful go public process, and this additional funding will help us to execute on our growth plans going forward,” said iLearningEngines CEO Harish Chidambaran.

Statement of Oi Creditors Regarding Fallback Bid

Retrieved on: 
Venerdì, Aprile 19, 2024
Telecommunications, Networks, Internet, Finance, Professional Services, Technology, VoIP, Mobile, Wireless, Sale, Creditor

Creditors support a robust sale process for ClientCo, including Oi’s efforts to achieve a successful cash sale of the business in accordance with the restructuring plan.

Key Points: 
  • Creditors support a robust sale process for ClientCo, including Oi’s efforts to achieve a successful cash sale of the business in accordance with the restructuring plan.
  • This bid would be submitted only in a subsequent round of bidding in the event that an approved cash sale does not occur in the initial round.
  • Oi is not a party to any agreement with respect to this bid at this time.
  • This statement is made on behalf of the Ad Hoc Group of Oi Noteholders.