James Packer’s Crown Resorts has ended its 12-year adventure in Macau, selling the remainder of its stake in Melco Crown Entertainment for $1.34 billion. Crown formally announced the sale on Tuesday morning, and said the proceeds from the sale of the 11.2 per cent stake would “initially be used to reduce Crown Resorts’ net debt”.…
By Jessica DiNapoli and Lauren Hirsch Canada’s Hudson’s Bay Co has hired a debt restructuring adviser to review potential options for combining its business with debt-laden U.S. department store operator Neiman Marcus Group, according to people familiar with the matter. The move is the clearest indication yet that Neiman Marcus’ $4.7 billion debt pile poses…
As we predicted back in March, Dragoman Global the consulting company that offers “engagement with senior government and political figures”, but is not a lobbying firm is no longer anything at all. Its two equity partners, former BHP Billiton colleagues Tom Harley and John Fast, have tipped their business into voluntary liquidation, a process overseen…
The fund-raising mode will prove an important tool for development, say analysts Mumbai, May 8: As many as five more infrastructure companies are moving ahead with issue of infrastructure investment trusts (InvITs) after IRB Infrastructure Developers InvIT got oversubscribed 8.5 times. Market analysts project between 15,000 crore and 20,000 crore being raised through the InvITs…
Great-West Life today announced further restructuring to its advisory channel organization. The new structure includes three distinct individual advisor networks, and a wholesaling organization that together will improve efficiency, modernize our approach to distribution and help fuel future growth, said Nick Pszeniczny, Great-West Lifes Executive Vice-President, Advisory Network. Going forward, the companys three individual advisory networks are: Wealth…
Puerto Ricos government recently declared that the country will seek bankruptcy under Title III of Promesa, a federal law enacted by the US Congress to deal with Puerto Ricos debt crisis. The decision triggers the beginning of a debt restructuring process, the largest ever registered in the municipal bond market of the US. It was…
Toronto, Ontario–(Newsfile Corp. – May 8, 2017) – Khan Resources Inc. (CSE: KRI) (“Khan” or the “Company“) is pleased to announce the appointments of interim executive officers and the termination of its liquidation plan. Mr. Marc C. Henderson has agreed to serve as the Company’s interim Chief Executive Officer and Mr. Michael Sadhra will assume…
Lagos, Nigeria: It is announced that on 5 May 2017, the Eastern Caribbean Supreme Court in the High Court of Justice, British Virgin Islands (the Court) placed Sea Trucks Group Limited (the Company) into provisional liquidation, appointing Chad Griffin of FTI Consulting LLP and Ian Morton of FTI Consulting (BVI) Limited as Joint Provisional Liquidators…
Sea Trucks group remains in operation despite liquidators being appointed to the group holding company The Eastern Caribbean Supreme Court in the High Court of Justice British Virgin Islands has placed Sea Trucks Group Limited in provisional liquidation, appointing Chad Griffin of FTI Consulting LLP and Ian Morton of FTI Consulting (BVI) Limited as joint…
by Neil Jerome Morales and Farah Master Kong China and the Philippines have joined forces to tackle illegal gambling, part of Beijing’s broader campaign to curb illicit capital outflows and a pledge by Manila to weed out unscrupulous operators from the country’s booming gaming industry. The coordinated crackdown comes amid warming ties between Chinese President…