Todd Wolynski, Partner at White & Case, and Oliver Althoff, Managing Director North America at Seabury Securities, explain what aviation companies need to do to restructure. As former General Counsel and Chief Administrative Officer (Wolynski) and MD, Capital Markets and Treasury (Althoff) at Waypoint Leasing, the large helicopter lessor that filed for Chapter 11 in…
Woolworths expects full year earnings could be 2.7 per cent lower after it outlined one-off charges worth $591 million for restructuring and staff underpayments and incurs additional costs related to COVID-19. The retail giant said it expects full year earnings before interest and tax (EBIT) to be in the range of $3.2 billion to $3.25…
The registration of Ms Amanda Young as a liquidator has been cancelled following a decision by a disciplinary committee that she was not a fit and proper person to be registered as a liquidator. The Committee concluded that Ms Young had improperly used her position, falsified books and misappropriated funds totalling $238,502.23 from four liquidations.…
They were once the giants of Australian retail. The only places to shop. Everything you wanted, all under the one roof. Key points: QBE is Australia’s largest provider of trade credit insurance, and it will no longer cover contracts with Myer and David Jones This is because the risk of the big department stores defaulting…
Mayfair 101 has appointed Barry Wight, Darryl Kirk and Rachel Burdett of Cor Cordis as voluntary administrators to protect the IPO Wealth Fund investors from the liquidation of assets. The decision to undergo a voluntary administration process is centred on providing IPO Wealths investors with the opportunity to convene a unitholder meeting and vote on…
Morgan Stanley on Monday lowered its base case for Hertz to $US0 from $US2, citing risks of de-listing or a potential liquidity shortfall. The firms base case is now equal to its bear case. Morgan Stanley also lowered its bull case for Hertz to $US3 from $US8. The updated price target reflects the banks view…