{"schema_version":"secwatch.filing_event.v1","accession":"0001641172-25-015450","form_type":"8-K","ticker":null,"cik":"0001014111","company_name":"GlassBridge Enterprises, Inc.","filed_at":"2025-06-17T23:59:59+00:00","discovered_at":"2026-05-14T18:02:47.151079+00:00","generated_at":"2026-05-19T04:03:49.355930+00:00","sec_items":["2.04"],"event_type":"debt","sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"GlassBridge reports $34.1M default by servicer on WAB loan; potential foreclosure on pledged collateral","bullets":["Third-party servicer defaulted on WAB Loan ($34.1M outstanding) due to liquidity, audit, and Fannie Mae suspension.","GlassBridge pledged collateral (mortgage servicing rights) with fair market value at least $61.9M to secure the loan.","WAB may foreclose on collateral; company states default will be cured promptly and no foreclosure anticipated.","No financial impact or acceleration of obligation quantified; company does not expect material adverse effect."],"urls":{"canonical":"https://secwatch.observer/filing/0001641172-25-015450","json":"https://secwatch.observer/filing/0001641172-25-015450.json","markdown":"https://secwatch.observer/filing/0001641172-25-015450.md","text":"https://secwatch.observer/filing/0001641172-25-015450.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1014111/000164117225015450/0001641172-25-015450-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1014111/000164117225015450/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-19T04:03:49.355930+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"fa6f3becdaee9402c080ff133d5c38796fa3d83c","claim":"GlassBridge Enterprises, Inc. reported a default on guarantee of approximately $34.1 million with Western Alliance Bank.","evidence_excerpt":"obligations of its third party servicer under such servicer’s loan agreement with WAB (the “WAB Loan”). As of today, the amount outstanding under the WAB loan was approximately $34.1 million secured by Collateral with a fair market value of at least $61.9 million. On June 11, 2025, the Company received a notice that its third party servicer had defaulted on the WAB","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1014111/000164117225015450/0001641172-25-015450-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"guarantee"},{"label":"Principal","value":"approximately $34.1 million"},{"label":"Counterparty","value":"Western Alliance Bank"},{"label":"Event","value":"default"}],"fact_type":"debt_financing"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}