by Tiffany Kary and Emma Orr Gibson Brands filed for bankruptcy with a turnaround plan that gives some of the company’s lenders equity ownership of the iconic American business that’s supplied guitars to B.B. King, Elvis Presley and Pete Townshend. Support from senior secured noteholders will help Gibson repay bank loans while going through a “change…
ROHNERT PARK, Calif., May 1, 2018 /PRNewswire/ — Paying down student loans can be difficult for borrowers who only have federal loans. However, many borrowers must contend with both federal and private loans. While private loans have less flexibility than federal loans, both can be dealt with for a favorable repayment outcome. Ameritech Financial, a…
by Paula Mints Oh, what a tangled web you weave when vying for an exclusion from tariffs via strategic ac-quisition. In April, SunPower (SPWR) announced it had acquired (subject to regulatory approval) So-larWorld US, subsidiary of the company that kicked off the solar tariff dispute with a petition in 2012, focused on China as the…
ROHNERT PARK, Calif., April 30, 2018 /PRNewswire/ — In the past decade, the U.S. has seen an increase in college attendance which has helped fuel the student debt problem. Meanwhile, trade jobs are underfilled as high school students are pushed toward a four-year college path, potentially doomed to deal with student debt for decades. Ameritech Financial,…
The Mumbai Bench of the NCLT has directed commencement of corporate insolvency resolution process for EPC Constructions India Pvt Ltd, formerly known as Essar Projects (India) Ltd, on a petition filed by IDBI Bank to recover outstanding loans of 969 crore. As per the submissions made by IDBI Bank before the Tribunal, the account of…
Calcutta: Maithan Alloys Limited has earmarked an investment of Rs 275 crore to expand capacity in Bengal and is eyeing assets referred for corporate insolvency and liquidation. The company informed the BSE that its board has approved a greenfield plant with an estimated capacity of 1,20,000 tonnes per annum ferro alloy in the state. The…
I took out a loan and borrowed on credit cards to help pay for the delivery of my twins in April 2013 as maternity was not covered in my insurance at that time. The same year, my husband and I lost our jobs and I could not afford to pay the instalments, stopping the payments…
Following the release of the Q1 2018 Insolvency Service insolvency statistics today, Richard Haymes, Head of Financial Difficulties at TDX Group, an Equifax company, calls for stricter rules when promoting insolvency services online: The figures released by the Insolvency Service today, showing an increase in both company and personal insolvencies, support our expectation that the…
The National Company Law Appellate Tribunal (NCLAT) on Tuesday ordered status quo in the insolvency process of Electrosteel Steels India Pvt Ltd. The NCLAT has also directed the steering committee, if any appointed, not to spend any amount except as required for the day-to-day operations of Electrosteel. A bench headed by S.J. Mukhopadhyay was hearing…
It was an interview she would almost certainly come to regret. In early 2003, Catherine Brenner, then a director of corporate finance for ABN AMRO discussed her beauty regime with the women’s magazine, Vogue. In the article “Groomed for Success”, Brenner revealed that she spends as much as $600 a month on beauty accessories, and…