December 17, 2025 - United States Attorney for the Southern District of New York, Jay Clayton, announced today the unsealing of an Indictment charging Daniel Chu, the founder and former CEO of Tricolor Holdings LLC, with orchestrating a years-long financial crimes enterprise that defrauded multiple banks and other private credit providers. Chu and David Goodgame, Tricolor’s former COO, are also charged with bank fraud and wire fraud offenses in connection with schemes to frau

December 19, 2025 - Shareholder Kevin Gordon has filed a lawsuit against Fat Brands in Delaware court, accusing the company—which owns chains like Fatburger and Fazoli’s—of masking severe cashflow problems through short-term borrowing and up to $15 million in high-interest merchant cash advances while funneling money to insiders. The suit alleges that Fat Brands artificially boosted its reported liquidity, approved post-spin-off bonuses, and improperly excluded certain bond t

November 21, 2025 - One of North America’s largest pallet recycling and management companies reportedly is headed toward a major ownership transition, as several of its private credit lenders prepare to exchange a portion of 48forty Solutions’ debt for equity. The development marks a significant escalation in a restructuring process first reported this summer and underscores the strain that high interest rates and cooling freight activity have placed on leveraged firms acros

November 19, 2025 - A BlackRock portfolio of private credit loans has performed poorly, prompting the money manager to waive some management fees. The portfolio's value declined enough to breach an over-collateralization test in October, which was rectified by a fee deferral that included cash from the deal's riskiest tranches. The performance of the portfolio raises questions about the outlook for the broader private credit market, which has shown signs of weakness despite