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Recent Editions
Risk Channel
North America
BAE Systems has experienced a cybersecurity incident that has disrupted the federal Bankruptcy Noticing Center since October 9th, preventing U.S. bankruptcy courts from distributing official case notifications, hearing schedules, and discharge orders. The outage has forced courts nationwide to introduce emergency measures to protect affected parties and manage procedural delays. The Eastern District of New York has ruled that parties will not lose legal rights or face penalties for missed deadlines caused by the disruption, while the Eastern District of Texas has extended certain debt collection protections by 30 days. Meanwhile, the Western District of North Carolina is addressing delays individually. BAE Systems said the incident was isolated to the bankruptcy-noticing system, with no other systems affected, but has not provided an estimated timeline for restoring services.
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Risk Channel
UK/Europe
KKR has been formally accused by the European Commission of providing misleading information during the regulatory review of its €22bn acquisition of Telecom Italia’s fixed-line network, which received EU approval in 2024. Following a year-long investigation prompted by complaints from rival operators, regulators allege that KKR misrepresented its ability to change wholesale network access terms, with competitors claiming prices subsequently increased. KKR strongly disputes the allegations, maintaining that its original disclosures were accurate and emphasizing that the charges are preliminary and do not affect the transaction’s existing approval. The US private equity firm could face a fine of up to 1% of its annual global turnover if found to have breached EU rules, with a final decision expected following further proceedings.
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