IDB Bank (IDB), a New York-based private and commercial bank, has closed up to a $100 million asset-based revolving credit facility for Dwight Funding, a New York-based lender to modern brands and platforms. Dwight Funding was one of the first capital providers to focus on high growth, digitally native brands.

IDB was the sole lead arranger and administrative agent for Dwight's facility, signaling the Bank's growing position in the Lender Finance industry. 

The new Company Stabilisation and Restructuring Act (StaRUG for short) entered into force on January 1, 2021. It is based on a European directive on the introduction of a pre-insolvency restructuring procedure, which was adopted in June 2019.

The intention is to facilitate early restructuring of companies and in any case before insolvency occurs. The idea is to avoid the disadvantages of insolvency - a possible loss of reputation and high costs for the affected company, disruption to trade and to safeguard employment.