Bankruptcy

Germany’s clarified framework for enforcement and recoveries

How the country’s updated auction rules are starting to shape intercreditor dynamics, enforcement strategies and loss-given-default assumptions in deals involving German collateral. By Dagmar Gold of Deutsche Pfandverwertung

Inside the rise of factoring

Receivables financing is tipped to see strong growth through to 2030. PDI examines why – and asks whether the banks can make a comeback.

Ropes & Gray makes fifth senior recent hire from Fried Frank

For complex special situations, liability management and restructuring matters of R&G clients.

Bankruptcy debtors score a win over residential portfolio

US bankruptcy court approves sale of rent-stabilised residential properties, setting aside housing-based objections from New York City.

Carlyle finds value in Europe

‘Europe has always offered a spread pick-up,’ says Taj Sidhu, partner and head of European and Asian private credit at Carlyle.

First Brands founder indicted as new liquidity approved

Bankrupt auto parts firm’s founder and his brother indicted on charges of defrauding banks and investors.

ABF managers emphasise discipline following bankruptcies

Though collapses primarily occurred on bank balance sheets, alternatives managers have sought to get ahead of the problem.

Factors were wary two months before Saks Global’s bankruptcy filing

Burdened by debt, Saks missed a $100m interest payment in late 2025.

Hertz case offers win for bankruptcy creditors of solvent debtors

Supreme Court decides not to decide, leaving in place a Third Circuit decision and boosting a rule for protection of creditors.

Leveraged roll-ups as a red flag: the First Brands case

Silver Point partner writes that serial acquirers can overstate growth and camouflage costs.