TSL Express Daily Articles & News

Vinson & Elkins LLP announced today that Paul E. Heath, an accomplished partner in the firm's Restructuring and Reorganization practice group, has relocated from Dallas to Houston.

J. Jill Inc. has just 10 days to get permission from the vast majority of its lenders for a deal that would extend the struggling retailer’s debt maturities, excuse it from financial covenants and give it fresh cash. The company said in a statement Tuesday that it plans to file for bankruptcy if it fails to get lenders holding 95 per cent of its term loans on board with the plan by Sept. 11. It’s struck a deal with lenders holding 70 per cent of the debt to extend certain debt maturities to 2024, grant a financial covenant holiday and provide for at least US$15 million of new cash in the form of a junior term loan.

Brighton Marine, a Veteran network community in Brighton, announced the official opening of a facility. The City of Boston is committed to connecting Boston's military families with the resources and assistance they are entitled to. In 2015, Mayor Walsh released "An Action Plan to End Veteran and Chronic Homelessness In Boston: 2015 - 2018", which outlines the City's strategies to transform Boston's homeless response system in order to end veterans homelessness by 2015 and chronic homelessness by 2018. Since the start of the plan the City has housed more than 1,291 veterans experiencing homelessness.

Winston & Strawn LLP is pleased to announce the addition of James T. Bentley, an experienced and respected bankruptcy and restructuring attorney, as a partner in the firm’s New York office. James has considerable experience in corporate restructurings, representing numerous constituencies in bankruptcy and out-of-court workouts. He has represented hedge funds, private equity funds, alternative asset managers, trustees, and other stakeholders in every aspect of the restructuring process. James has experience across a broad range of industry sectors, including retail, automotive, energy, healthcare, restaurants, radio and television, real estate, and securities.

WeedMD Inc. (TSX-V:WMD) (OTCQX:WDDMF) (FSE:4WE) (“WeedMD” or the “Company”), a federally-licensed producer and distributor of cannabis, is pleased to announce that it has entered into a binding term sheet for a credit facility (“Credit Facility”) with an affiliate of the LiUNA Pension Fund of Central and Eastern Canada (“LPF”). The $30 million Credit Facility, maturing in August 2022, will be used for general working capital purposes, capital expenditures and general corporate requirements, and will provide the Company with significant financial capacity to drive commercial initiatives during its next stage of growth.

Directed Capital, a national opportunistic real estate finance firm that acquires and strategically repositions commercial mortgage loans, today announced it has closed its tenth flagship fund, raising $92 million in equity commitments that will be deployed to purchase commercial real estate debt. The firm will seek to acquire more than $500 million in commercial mortgage loans, then work to successfully resolve the assets, creating value for the partnership, while also providing borrowers with the flexibility to work out their debt, and in many cases help to continue their business operations.

SB360 Capital Partners, one of North America’s leading asset disposition specialists, announced that it commenced store closing sales in an additional 23 Justice stores located in 13 states. Justice is a destination store for tween girls and the store closing sales in the 23 Justice stores will feature great deals on all products. Justice customers can expect initial discounts of up to 50% off the original price on a full selection of clothing, shoes, accessories, toys, and more.

Republic approved a scalable and non-dilutive growth orientated facility that provided availability on their account receivables. The natural food ingredient manufacturing company was looking to accelerate their growth across their products lines. Republic is a proud supporter of the natural food trade shows, including its regional associations.

Heritage Global Inc. (NASDAQ: HGBL) (“Heritage Global,” “HGI” or “the Company”), an asset services company specializing in financial and industrial assets, today announced key senior executive promotions in the Company’s Financial Assets and Industrial Assets divisions.

Beginning on Tuesday, small and medium-sized businesses that sell on the retail giant’s Marketplace will see invites to apply for business lines of credit offered by Marcus, Goldman’s online consumer banking unit. It’s part of a new partnership between the big-box retailer and the Wall Street giant.

TAB Bank is pleased to announce it has provided a $2.5 million asset-based revolving credit facility for manufacturing trucking based in Florida. The new facility is extended through a multi-year agreement and will provide for the ongoing working capital needs for the company.

Stonebriar Commercial Finance announced the closing of a $30 million sale and leaseback with an industry leading producer and marketer of agricultural, mining and industrial chemicals. The lease proceeds, based on an in-place and in-continued-use fair market valuation, supported the retirement of prior indebtedness and created incremental liquidity to be used by the lessee for general corporate purposes. This closing represents the third capital commitment by Stonebriar to the lessee.

The Secured Finance Network (SFNet) named Theresa Driscoll and Julia Gavrilov, attorneys at Moritt Hock & Hamroff (MH&H), to its Top Women In Commercial Finance List for 2020 in recognition of their outstanding achievements and leadership in the commercial finance industry.

Southeast-based consumer credit and identity solutions software-as-a-service provider, majority owned by founder & CEO Ed Margolin. Visit Fraud Protection Network's website to learn more.

This year marks the 20th anniversary of Tradewind Finance, whose financial services have supported small and medium-sized businesses globally for two decades. It has been an honor for the company to work with their clients across industries as their trusted financial partner. In addition to a solid foundation of years in operation, the milestone signifies the company’s growth – in offices, business relationships, and capabilities.

Timbercreek Financial Corp. (TSX: TF) (“Timbercreek Financial” or the “Company”) is pleased to announce that it has entered into an amendment to its existing revolving credit facility (“Credit Facility”) in order to, among other things, exercise a portion of the accordion feature of the Credit Facility. The exercise of the accordion feature has increased the total revolving commitment of the lenders under the Credit Facility by $35,000,000, bringing the aggregate limit under the Credit Facility to $535,000,000. General terms of the Credit Facility remain unchanged.

CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance group, part of the company's Commercial Finance division, provided a $20 million senior secured credit facility for Protech Home Medical Corp. (TSXV: PTQ) (OTCQX: PTQQF), a leader in the home medical equipment industry focused on end-to-end respiratory care. Based in Cincinnati, Ohio, Protech Home Medical provides clients with a broad range of in-home monitoring and disease management services, including end-to-end respiratory solutions for patients in the United States healthcare market.

Katten announced today that the firm has added a new partner, Michaela Crocker, to its Insolvency and Restructuring practice in Dallas. She is the tenth attorney to join the practice this year and the third this month. Crocker, who helps clients navigate some of the most complex Chapter 11 cases, also is the latest partner addition to Katten's Dallas office, which opened in 2018 with seven partners and has since expanded to more than 40 attorneys.

TAB Bank is pleased to announce it has provided a $2.5 million asset-based revolving credit facility for manufacturing trucking based in Florida. The new facility is extended through a multi-year agreement and will provide for the ongoing working capital needs for the company.

Alvarez & Marsal Taxand, LLC (A&M Taxand), an affiliate of leading global professional services firm Alvarez & Marsal (A&M), strengthened its energy-focused mergers and acquisitions (M&A) tax advisory services with the appointment of Houston-based Kyle Seipert as a Managing Director. This appointment further enhances A&M’s robust offerings to the oil and gas industry and reflects the firm’s commitment to help energy company clients navigate challenges and maximize value as the industry undergoes major transformation.