TSL Express Daily Articles & News

John Socknat—who advises mortgage and consumer finance companies across the country in compliance and enforcement actions—has been named Co-Leader of Ballard Spahr’s top-ranked Consumer Financial Services Group, firm Chair Mark Stewart announced today. Daniel JT McKenna—who represents clients in individual and class action litigation in the CFS space and who has led the litigation arm of the national powerhouse practice—now becomes Co-Leader of the Group.

TIAA Bank today announced that its Commercial Real Estate (CRE) business enjoyed a record year in 2021, as its customized financing solutions and growth focus spurred an 83% increase in the bank's overall CRE volume.

Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced that on February 2, 2022 it renewed its two-year revolving credit agreement with Ares Agent Services, L.P.

Revolution Capital, the leading provider of factoring and cash-flow financing in Canada and the United States has further broadened their expansion in the US with a new office in Fort Worth, Texas, expected to become one of the largest and most reputable ones in the area.

Michael is a skilled executive with extensive operating, turnaround, restructuring and M&A experience. He has served in advisory capacities as well as independent director, investment banker, Chief Restructuring Officer, Receiver, and Liquidating Trustee for more than 375 Phoenix clients in a wide variety of industries.

Lafayette Square, an impact investment platform, announced that its affiliates have entered into a new credit facility with Sumitomo Mitsui Banking Corporation ("SMBC"), one of the largest global financial firms. The facility will be used to support Lafayette Square's regionally focused middle market lending activities, consistent with its mission to achieve impact in local communities. The credit facility will initially provide the Lafayette Square affiliates with the ability to borrow up to $10.6 million based upon unused capital commitments from their investors, and is expected to grow through an uncommitted accordion feature expandable up to $1 billion.

JLL Capital Markets announced today that it has arranged $12.5 million in acquisition financing for 380 Communipaw, a 40-unit luxury apartment community currently under construction within a Qualified Opportunity Zone in Jersey City’s rapidly expanding Bergen-Lafayette neighborhood. JLL worked on behalf of the borrower, Golden Glades Capital Management, to secure a two-year, floating-rate acquisition bridge loan through Sound Point Commercial Real Estate Finance, a unit of Sound Point Capital Management, LP.

Blank Rome LLP is pleased to welcome three partners to the firm’s national Corporate, M&A, and Securities group in New York: Leslie Marlow, Hank Gracin, and Patrick Egan. Widely known and respected for their work in corporate and securities law, the team also brings two securities paralegals with them and joins Blank Rome from Gracin & Marlow, LLP.

BlueVine today announced it has increased the size of its BlueVine Line of Credit warehouse debt facility with Atalaya by two new lenders, both advised by 20 Gates Management, and increasing the committed amount to $150M, with the ability to upsize the facility to $300M.

Audax Private Debt announced that, as Administrative Agent and Sole Lead Arranger, it provided an incremental Second Lien Credit Facility to support add-on acquisitions by Metalmark Capital’s portfolio company, Innovetive Petcare (“Innovetive” or the “Company”), a leading operator of veterinary practices.

Mallinckrodt plc (OTCMKTS: MNKKQ) ("Mallinckrodt" or the "Company") today announced that its Plan of Reorganization (the "Plan") has been confirmed by the U.S. Bankruptcy Court for the District of Delaware, paving the way for the Company to begin the next stage in its reorganization process.

Epiq, a global technology-enabled services leader to the legal services industry and corporations, released its January 2022 bankruptcy filing statistics from its Epiq Bankruptcy AACER Platform. Overall, January new filings were 26,194 across all chapters, down 6.4% from December 2021, which had 27,980 new filings. Total commercial filings across all chapters were 1,492, down 11.2% over December 2021, which had 1,681 new filings.

Big Shoulders Capital is excited to announce an enhanced focus on equity investments in distressed manufacturing businesses, with the hiring of Brian Schroeder as Vice President of Equity Investments. Brian brings financial and operational expertise in distressed situations, having been awarded both the small and large turnaround of the year awards from the Turnaround Management Association in 2020 and 2021 for his contributions to Midwest Paper Group and Hobie Cat Company respectively.

Vivid Seats Inc. (NASDAQ: SEAT) (“Vivid Seats” or the “Company”), a leading marketplace that utilizes its technology platform to connect millions of buyers with thousands of ticket sellers across hundreds of thousands of events each year, today announced the successful completion of the refinancing (the “Transaction”) of its existing credit facility.

Great Elm Capital Corp. (“we,” “us,” “our,” or “GECC,”) (NASDAQ: GECC), a business development company, today announced that it has acquired a majority equity interest in Sterling Commercial Credit, LLC (“Sterling”) a leading asset-based lender. Established in 2004, Sterling provides asset-based loans to middle market companies throughout the United States. The Sterling team has been active in the commercial finance industry for over 30 years.

PKF O’Connor Davies, LLP, one of the nation’s largest accounting, tax and advisory firms, today introduced PKF Clear Thinking, LLC, a subsidiary of the Firm specializing in business advisory services for companies at any stage of their life cycle. Formally known as Clear Thinking Group, LLC, the award-winning national bankruptcy and restructuring consultancy now operates as PKF Clear Thinking, LLC, with an enhanced digital presence and expanded network to better connect clients with strategic insights and actionable solutions that drive growth and preserve value.

Alleon Healthcare Capital ("Alleon"), a specialty finance company focused on providing healthcare accounts receivable financing, medical accounts receivable factoring, and cash flow solutions to medical providers in the U.S., recently closed a $6,000,000 medical accounts receivable financing facility with a primary care provider network based in New Jersey.

A&G Real Estate Partners announced that the U.S. Bankruptcy Court has approved the sale of Barclay Tower, a recently-constructed, 23-unit residential building in this densely populated section of Queens.

CC Industries, Inc. (“CCI”) recently announced that it has acquired CIE. Headquartered in Marion, Indiana, CIE operates a world-class, commercial-scale distillery, which serves customers from Fortune 500 spirit, food and fragrance brands to niche artisan craft distilleries. Ocean Park acted as exclusive financial advisor to CIE on the transaction. Financial terms of the transaction were not disclosed.

Huntington Business Credit announced it closed a new $20,000,000 credit facility with Atlas Wire, LLC on December 31, 2021. Proceeds of the facility were used to assist in the acquisition and to provide ongoing working capital growth financing.