Epiq, a global technology-enabled services leader to the legal services industry and corporations, released its April 2021 bankruptcy filing statistics from its AACER bankruptcy information services business. Total April new filings exceeded the forty thousand threshold for the second straight month with 40,886 across all chapters. The new filings were driven by 38,813 new non-commercial or individual filings, down from March’s 41,156, but up 16% over the average in the prior 7-month period.

SPAR Group, Inc. (NASDAQ: SGRP), a leading global provider of merchandising and marketing services, announced that it has increased and extended the terms of its current line of credit. Under the more favorable terms of the amendment, the maximum amount of the line of credit increased by $2 million to $18 million and the length of the term was extended by 18 months to October 2023. In addition, the minimum interest rate decreased by 150 basis points to 5.25% and facility and early termination fees were substantially reduced.

Hertz Global Holdings Inc. (OTCPK:HTZGQ) ("Hertz" or the "Company") confirmed today that it has received a revised proposal from affiliates of Knighthead Capital Management LLC, Certares Opportunities LLC, and Apollo Capital Management, LP to provide equity capital required to fund Hertz's exit from Chapter 11.

Bridge Bank today announced its Boston-based Technology Banking Group has extended a $15,000,000 growth capital term loan to Examity, a technology company concentrating in the online proctoring market. Examity has partnerships with hundreds of enterprise-testing organizations, corporations and universities.

Founded in 2013, BondIt has posited over $150 million of capital into over 325 film, TV and other media projects. These include “Honest Thief” (starring Liam Neeson), “Midway” (a Roland Emmerich-directed WW2 film), “Loving Vincent” (the 2018 Oscar-nominated animated film) and “Street Gang: How We Got to Sesame Street” (an upcoming documentary on HBO Max).

IDS, a leading provider of enterprise mission-critical solutions for secured finance, announced today it added four new customer wins during first quarter of 2021. They include two start-up equipment finance operations; Metropolitan Capital, a universal bank expanding into asset-based lending (ABL); and a top five U.S. bank, which implemented IDS | ABL. The company is also on record pace to complete 14 go lives by the end of the first half representing a 40% increase over 2020.

Crestmark is pleased to announce that David Menoian has been promoted to Government Guaranteed Lending (GGL) business unit president. Menoian is based in Troy, Michigan and will oversee the company’s growing SBA and USDA lending portfolio. He will report to Division President Christopher Soupal.

Garrett Motion Inc. (“Garrett”) today announced it has emerged from its pending Chapter 11 cases, successfully completing the restructuring process and implementing the Plan of Reorganization (“Plan”) that was confirmed by the U.S. Bankruptcy Court for the Southern District of New York on April 23, 2021. With the support of a significant majority of its stakeholders, led by funds managed by Centerbridge Partners, L.P. (“Centerbridge”) and funds managed by Oaktree Capital Management, L.P. (“Oaktree”), Garrett will remain a publicly traded company and expects to list its common stock on Nasdaq, effective May 3, 2021, under the ticker symbol GTX.

Kirkland & Ellis LLP and Slaughter and May served as legal advisors to Valaris in connection with the restructuring. Lazard Ltd. served as Valaris's investment banker and Alvarez & Marsal North America LLC as its restructuring advisor. Kramer Levin Naftalis & Frankel LLP and Akin Gump Strauss Hauer & Feld LLP served as legal advisors to the Consenting Noteholders, and Houlihan Lokey Inc. served as financial advisor. Shearman & Sterling LLP served as legal advisors to the RCF Administrative Agent, and Perella Weinberg Partners LP served as financial advisor.

BizCap® (Business Capital), a leading commercial finance and advisory firm, is expanding its team with the recent addition of Cooper Brown as an Analyst, assisting the credit and capital markets departments with underwriting, syndication, debt market analysis and reporting.

FrontWell Capital Partners Inc. (“FrontWell”) is pleased to announce the closing of a $15 million CAD senior secured credit facility to a large Canadian manufacturing company with an operating history of more than 150 years. The facility is secured by real estate and working capital and will be used to support the company’s business plan.

Beacon Pointe Advisors ("Beacon Pointe") has just closed another material acquisition, this time heading back to the Carolinas to partner with DMJ Wealth Advisors ("DMJWA"), which has offices located in Greensboro, Durham, Sanford and Wilmington, NC. DMJ Wealth Advisors is unique to other recent Beacon Pointe partnership acquisitions in that the firm originated from the partners of DMJ & Co., PLLC, a leading North Carolina CPA firm.

The National Association of Credit Management’s Credit Managers’ Index for April 2021 reached a high not seen for more than 15 years. The monthly combined index for manufacturing and service sectors broke through the 60-mark with a reading of 60.6 after hovering in the high 50s for several months. The last time the combined score surpassed 60 was March 2006 (60.2). However, April 2004 (62.2) still holds the record for the CMI’s highest combined score.

Citizens announced today that continued economic recovery from the shock of COVID-19 kept the past quarter’s national Citizens Business Conditions Index™ (CBCI) in upbeat territory, with another healthy reading of 53.3. This compares with the fourth quarter reading of 56.0. A reading above 50 is considered expansionary.

Burford Capital Limited, the leading global finance and asset management firm focused on law, today announced the appointment of Kenneth A. Brause as Chief Financial Officer, effective May 3, 2021. Mr. Brause will be based in Burford's New York office. Jim Kilman, Burford's current CFO, was appointed in August 2019 to serve for up to two years, after having previously served as Senior Advisor since 2017. Working with a leading executive search firm, Burford undertook a broad and thorough search for Mr. Kilman's successor late last year.

The Hedaya Capital Group is pleased to announce that Irwin Dayan has joined as vice president of business development and marketing. Irwin, known to many as "ID," has worked for over 30 years in the advisory and turn around sector within various industries including wholesale, retail, real estate, services and e-commerce. Irwin also founded and ran a crisis management company, advising and restructuring medium to large companies by coordinating with law firms, accounting firms, financial institutions, and consulting firms.

CannTrust Holdings Inc. ("CannTrust" or the "Company") (unlisted) announced today that it has obtained approval from the Ontario Superior Court of Justice (Commercial List) under the Companies' Creditors Arrangement Act (Canada) (the "CCAA") for the Company's previously announced "debtor-in-possession" ("DIP") and CCAA Exit Credit Facility ("Credit Facility") arranged and agented by Cortland Credit Lending Corporation.

SLR Business Credit is pleased to announce a $500,000 accounts receivable credit facility to East Coast Components in South Carolina. When current ownership acquired East Coast Components this past fall, the purpose was to have a truss supplier for their own growing Ag building company. That started to change as orders started flowing in due to the high growth of the residential, multifamily, and commercial building in the Southeast.

Ocean Bank announced today Daniel Krasna has joined the bank as vice president, factoring business development officer. Krasna, who has 10 years’ experience in factoring, previously served as vice president at Sallyport Commercial Finance.

Raymond James is expanding its Recapitalization & Restructuring Investment Banking practice with the hiring of Jacob Czarnick as managing director. Czarnick will focus on restructuring and will use his deep knowledge of both company and creditor engagements to assist clients in navigating complex distressed transactions.