Bradford J. Sandler , partner and co-chair of the creditors’ committee practice group at Pachulski Stang Ziehl & Jones, shared some insight on Saks Global's situation via an email to TheStreet.Additional complaints span winter accessories, garments, and jewelry, with claimed damages ranging from tens of thousands of dollars to more than half a million dollars. Source: The Fashion LawOther suits target Saks Off 5th, including actions by International Trimmings & Labels Inc., which seeks $40,690 for goods sol ...

Core Viewpoint - MSP Recovery, Inc. has entered into a non-binding term sheet for a new secured term loan facility of up to $55 million to enhance working capital and operational funding for future growth [1] Group 1: Loan Facility Details - The term sheet outlines a potential first lien secured delayed draw term loan facility with a principal amount of up to $55 million, maturing 36 months after closing, with two possible one-year extensions [2] - The obligations will be secured by a first-priority security interest in substantially all assets, subject to inter-creditor arrangements with existing creditors [2] Group 2: Warrant Issuance - In connection with the loan advances, the company will issue warrants to purchase shares of its Class A common stock, with an exercise price of $0.01 per share and a term of ten years [3] - Warrant coverage ranges from 3.0% per $1.0 million drawn under the initial portion of Tranche A to 0.35% per $1.0 million drawn under later portions of Tranche B, with a maximum potential coverage of approximately 46.0% on a fully diluted basis if fully drawn [3] Group 3: Additional Terms and Conditions - The term sheet includes customary fees, financial reporting requirements, oversight, and approval rights for the lender, as well as the potential appointment of a Chief Restructuring Officer [4] - Certain extensions of credit and warrant issuances may require shareholder approval under applicable Nasdaq rules [4] Group 4: Company Vision and Strategy - The CEO of MSP Recovery stated that the transactions would facilitate a capital infusion and create strategic alignment with partners who share the company's long-term vision [5] - The company remains committed to optimizing its capital structure and pursuing justice for healthcare clients through ongoing litigation strategies [5] Group 5: Company Background - MSP Recovery, founded in 2014, is a leader in Medicare, Medicaid, and commercial reimbursement recovery, utilizing data-driven solutions to secure recoveries from responsible parties [6]