FTI Consulting Enhances Company-Side Restructuring Presence with the Appointment of Global Restructuring Expert … – GlobeNewswire (press release)

Restructuring

WASHINGTON, Feb. 20, 2018 (GLOBE NEWSWIRE) — FTI Consulting, Inc. (NYSE:FCN) today announced the appointment of Keith McGregor as a Senior Managing Director in the Corporate Finance & Restructuring segment, continuing to deepen the firms global company-side restructuring capabilities. Mr. McGregor, who joins FTI Consulting from EY, will be based in New York. In his…

Essar Sale Advisers Are Said to Recommend Disqualifying All Bids – Bloomberg

Bankruptcy

Advisers evaluating the offers for Essar Steel India Ltd. are recommending that both bids for the insolvent company be disqualified, according to people with knowledge of the matter. Legal and accounting advisers expressed concerns to the interim resolution professional, which is overseeing the Essar Steel sale process, about the eligibility of ArcelorMittals offer as well as a separate…

Egypt, Israel sign gas export deal for $15 billion – Palestine News Network

Bankruptcy

Nathan Schmidt / Bethlehem Israeli gas fields in the Mediterranean will soon be providing gas exports to Egypt as a part of a 10-year, $15 billion deal announced on Monday. Israeli gas excavation companies Delek Drilling and Noble Energy will export roughly seven-billion cubic-meters of gas annually from drilling platforms in the Mediterranean, namely the…

Steinhoff Asia Pacific secures $300m debt deal – The Australian Financial Review

Restructuring

Retailer Steinhoff’s local unit has secured a new $300 million loan from its existing banking syndicate.  Steinhoff Asia Pacific announced on Tuesday morning that the new loan was struck on normal commercial terms and was based on the operating performance of its local business.  Six banks, including domestic and offshore names, tipped into the offer. King &…

Evolution Of Law Of Corporate Insolvency [Part- IV] Dimension Of Role Of Resolution Professionals Final Balance … – Live Law

Liquidation

IRPs/RPs/Liquidators form the fifth pillar of the ecosystem under IBC. Unlike the previous regime under Companies Act, they are professionals with expertise in accounting/law/Secretarial practice/ relevant experience in the field. Criticality of their role can be gauged from the fact that on admission of application by NCLT,  IRP assume power of managing the affairs of…