Debt

National Bankruptcy Services Expands Partnership with Epiq AACER

Tuesday, July 27, 2021 - 1:00pm

NEW YORK, July 27, 2021 (GLOBE NEWSWIRE) -- Epiq, a global technology-enabled services leader to the legal services industry and corporations, today announced that National Bankruptcy Services (NBS) has expanded its use of the AACER Platform to support the management of its bankruptcy cases.

Key Points: 
  • NEW YORK, July 27, 2021 (GLOBE NEWSWIRE) -- Epiq, a global technology-enabled services leader to the legal services industry and corporations, today announced that National Bankruptcy Services (NBS) has expanded its use of the AACER Platform to support the management of its bankruptcy cases.
  • Were pleased to increase the level of service we receive from Epiq AACER, said Brad Cloud, CEO of NBS.
  • National Bankruptcy Services, LLC (NBS) is a leading provider of technology enabled default management and bankruptcy processing solutions to our colleagues at financial institutions, credit unions, automobile lenders and mortgage servicers.
  • Our AACER bankruptcy information services platform is built with superior data, technology and expertise to create insight and mitigate risk for businesses impacted by bankruptcies.

Zip Discusses Buy Now, Pay Later vs. Credit Cards

Tuesday, July 27, 2021 - 12:07pm

Unlike credit cards, Buy now pay later (BNPL) plans are often interest free.

Key Points: 
  • Unlike credit cards, Buy now pay later (BNPL) plans are often interest free.
  • As BNPL giant Zip explains, both services give shoppers a way to pay for what they want, then pay off purchases over time, but there are key differences between the two.
  • According to Zip, a significant difference is that most credit cards charge interest when there is an unpaid balance, whereas BNPL services, like Zip Pay, offer interest free transactions.
  • Depending on the type of credit card, users can be charged high annual fees and ongoing interest rates, whereas many buy now pay later (BNPL) accounts, like Zip Pay, only charge minimal monthly account fees if there is an outstanding balance.

 Purdue Pharma L.P. Announces Preliminary Voting Results on Plan of Reorganization

Tuesday, July 27, 2021 - 5:05am

Purdue Pharma L.P. today announced preliminary voting results that show overwhelming support for its chapter 11 plan of reorganization (The Plan).

Key Points: 
  • Purdue Pharma L.P. today announced preliminary voting results that show overwhelming support for its chapter 11 plan of reorganization (The Plan).
  • Out of almost 5,000 state and local governmental creditors, almost 97% voted to accept the plan.
  • The preliminary voting results demonstrate a broad consensus among every organized creditor group in these proceedings, and we will continue to work for even greater consensus ahead of the confirmation hearings.
  • Purdue expects to make public the final voting results by August 2, but the tally is not expected to change materially from these preliminary results.

Calgary Startup Yr Plans Announces Pilot Partnership with Sun Life

Monday, July 26, 2021 - 2:00pm

One of the first insurers in Canada participating in the pilot to help Canadians repay student debt

Key Points: 
  • Calgary, Alberta--(Newsfile Corp. - July 26, 2021) - Yr Plans Inc. announced a pilot partnership today with Sun Life to help Canadians repay student debt and take control of their financial future.
  • Yr Plans is the first platform in Canada offering this service, which allocates part of employees' retirement savings contributions to repay student loans.
  • We provide a relevant tool to help organizations support and attract skilled talent," said Sangita Prasad, CEO, Yr Plans.
  • Sun Life and Yr Plans' pilot partnership is one way we're helping Canadians take charge of their financial future," said Eric Monteiro, Senior Vice-President, Group Retirement Services, Sun Life.

DSG Global, Inc. Updates Financing Strategy to Support Sales Growth Initiatives

Monday, July 26, 2021 - 1:45pm

The Company and its Board of Directors will delay the reverse split and instead seek to strengthen the Companys cash flow and balance sheet.

Key Points: 
  • The Company and its Board of Directors will delay the reverse split and instead seek to strengthen the Companys cash flow and balance sheet.
  • The Company is in negotiations to secure available debt (rather than equity) financing to bolster expansion, increase inventory and accelerate sales.
  • With all the positive developments and strong growth in sales we are currently experiencing, our Board and management decided that securing debt financing and deferring a reverse split are favorable actions we can currently undertake.
  • DSG Global is an emerging global technology company with an array of interconnecting businesses in some of the fastest growing market sectors.

DSG Global, Inc. Updates Financing Strategy to Support Sales Growth Initiatives

Monday, July 26, 2021 - 1:30pm

The Company and its Board of Directors will delay the reverse split and instead seek to strengthen the Companys cash flow and balance sheet.

Key Points: 
  • The Company and its Board of Directors will delay the reverse split and instead seek to strengthen the Companys cash flow and balance sheet.
  • The Company is in negotiations to secure available debt (rather than equity) financing to bolster expansion, increase inventory and accelerate sales.
  • With all the positive developments and strong growth in sales we are currently experiencing, our Board and management decided that securing debt financing and deferring a reverse split are favorable actions we can currently undertake.
  • DSG Global is an emerging global technology company with an array of interconnecting businesses in some of the fastest growing market sectors.

KBRA Assigns Preliminary Ratings to Sonic Capital LLC Series 2021-1 Senior Secured Notes

Monday, July 26, 2021 - 10:01pm

Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to two classes of notes from Sonic Capital LLC Series 2021-1, a whole business securitization.

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns preliminary ratings to two classes of notes from Sonic Capital LLC Series 2021-1, a whole business securitization.
  • KBRA also anticipates affirming the ratings on the Series 2020-1 A-1 and A-2 Notes.
  • The transaction is a master trust, and the Series 2021-1 Class A-2 Notes (the Series 2021-1 Notes) represent the Master Issuers sixth securitization within the trust, which was created in May 2011.
  • Sonic Industries LLC, a wholly owned subsidiary of the Master Issuer, is the franchisor and operator of restaurants under the Sonic brand.

Province of La Rioja Bondholders File for Summary Judgment Against the Province

Monday, July 26, 2021 - 2:15pm

The action, filed in the U.S. District Court for the Southern District of New York, began the process of obtaining formal money judgments against the Province.

Key Points: 
  • The action, filed in the U.S. District Court for the Southern District of New York, began the process of obtaining formal money judgments against the Province.
  • The petition for summary judgment is based upon uncontested facts against which the Province has no valid defenses.
  • Despite its acknowledgment of default, the Province has failed to constructively engage with its bondholder representatives to negotiate a consensual debt restructuring.
  • During the pendency of the Province's default, nine other Argentine provinces have successfully concluded debt restructuring agreements with their international bondholders through good faith negotiations.

More Than Half of Families Plan to Use Student Loans to Help Pay for College

Monday, July 26, 2021 - 1:00pm

More than half (55%) of families will use student loans, according to a recent national College Ave Student Loans survey of 1,045 parents conducted by Barnes & Noble College Insights.

Key Points: 
  • More than half (55%) of families will use student loans, according to a recent national College Ave Student Loans survey of 1,045 parents conducted by Barnes & Noble College Insights.
  • To help manage the extra expenses, 48%took on student loans to cover the gap while 30% relied on parent loans.
  • With student or parent loans from College Ave Student Loans, families can stress less about financing and focus on their child's bright future ahead."
  • Federal student loans do have borrowing limits, which is where private student or parent loans can help cover the gap.

KBRA Assigns Ratings to Silvergate Capital Corporation

Thursday, July 22, 2021 - 9:40pm

Kroll Bond Rating Agency (KBRA) assigns a senior unsecured debt rating of BBB, a preferred stock rating of BBB-, and a short-term debt rating of K3 to Silvergate Capital Corporation (NYSE: SI) (Silvergate or the company).

Key Points: 
  • Kroll Bond Rating Agency (KBRA) assigns a senior unsecured debt rating of BBB, a preferred stock rating of BBB-, and a short-term debt rating of K3 to Silvergate Capital Corporation (NYSE: SI) (Silvergate or the company).
  • In addition, KBRA assigns deposit and senior unsecured debt ratings of BBB+, a subordinated debt rating of BBB, and short-term deposit and debt ratings of K2 to lead subsidiary, Silvergate Bank.
  • Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO.
  • KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.