In addition to its many other devastating human consequences, Hurricane Maria left the island of Puerto Rico with its power grid in ruins. Power was knocked out throughout the island, with an estimated 80 percent of its transmission and distribution wires incapacitated. When hospitals and other critical users could not get backup power and water…
With the continual development of new technology, rapid changes in the global economy, the constant threat of competition and a slowing local market, many companies are faced with the challenge of restructuring their business operations in China in order to cope with these new changes. Such restructurings may include: converting a Sino-foreign joint venture into…
A user works out with the Samsung Gear Sport through a fitness program connected to a TV. SAMSUNG ELECTRONICS Digital health care is possibly a new sector where Samsung could find a sea of new business opportunities in a world with tech-savvy, aging populations. Moving beyond providing electronic parts and devices, Samsung Electronics with a…
A file photo of Sanjay Lalbhai, chairman and managing director, Arvind Ltd. Photo: Jaydip Bhatt/Mint Mumbai: Arvind Ltd will demerge and publicly list its branded apparel and engineering businesses to focus better on its core textiles business, the company said on Wednesday. Once the restructuring is complete, Arvind Ltd will hold the textiles business, Arvind…
Australia has been criticised for having punitive insolvency laws that snuff-out directors enthusiasm to save companies facing financial and operational headwinds for fear of falling on the wrong side of an insolvent trading claim. The Australian Government has addressed the apparent lack of a turnaround culture (relative to other comparable jurisdictions) by introducing a safe…
WASHINGTON (Reuters) – The U.S. Consumer Financial Protection Bureau said on Wednesday it filed a lawsuit against Freedom Debt Relief, the largest U.S. debt-settlement services provider, and its co-Chief Executive Andrew Housser, alleging that they deceived consumers. The CFPB said its suit alleges that Freedom charges consumers without settling their debts as promised, makes customers…
As Royal Bank of Scotland has been buffeted by outrage from politicians and victims of its scandal-hit restructuring unit in recent weeks, it has at least seen a thin silver lining. A summary of a regulatory report into the Global Restructuring Group published last month revealed the intentional mistreatment of thousands of small and medium-sized…
REUTERS/Carlos Garcia Rawlins President Nicolas Maduro announced Venezuela will look to restructure its US$89 billion worth of debt to be able to continue servicing it. Forecasts about what will happen next are all pessimistic. By the end of next year, the government and state-owned PDVSA must repay debt obligations to the tune of $13 billion,…
WASHINGTON (Reuters) – The U.S. Consumer Financial Protection Bureau said on Wednesday it filed a lawsuit against Freedom Debt Relief, the largest U.S. debt-settlement services provider, and its co-Chief Executive Andrew Housser, alleging that they deceived consumers. The CFPB said its suit alleges that Freedom charges consumers without settling their debts as promised, makes customers…
WASHINGTON (Reuters) – The U.S. Consumer Financial Protection Bureau said on Wednesday it filed a lawsuit against Freedom Debt Relief, the largest U.S. debt-settlement services provider, and its co-Chief Executive Andrew Housser, alleging that they deceived consumers. The CFPB said its suit alleges that Freedom charges consumers without settling their debts as promised, makes customers…