LAS VEGAS (FOX5) — Cirque du Soleil plans to restructure the company and “restart business” by filing for protection against creditors, a company spokesperson confirmed Monday. Due to “immense disruption” caused by the COVID-19 pandemic related to canceled performances and economic hardship, Cirque du Soleil Entertainment Group seeks to settle its debts and “restart business”…
FILE PHOTO: International Monetary Fund Chief Economist Gita Gopinath takes questions at the annual meetings of the IMF and World Bank in Washington, U.S., October 18, 2019. REUTERS/James Lawler Duggan WASHINGTON (Reuters) – Private sector participation will be essential to ensuring the success of a debt relief initiative launched by the Group of 20 major…
Wayne Beck brings a wide range of high-level experience to client engagements, including acting for creditors, creditor committees, debtors, insolvency practitioners, banks and other financial institutions, and purchasers of distressed assets in cross-border, multijurisdictional and domestic insolvency, corporate reorganization, recovery, turnaround and litigation matters. Wayne has also assisted with the restructuring of a number of…
Should Student Loan Debt Be Easier to Discharge in Bankruptcy? Pro 1 Denying student loan debtors the benefits of bankruptcy is unfair. The US Supreme Court said in 1915 that the benefits of bankruptcy allow debtors to start afresh free from the obligations and responsibilities. Famous business leaders from Henry Ford to President Donald Trump…
The man said he’d accrued a gambling debt abroad in 2017. The man inherited 98,000 after a home he jointly owned, but did not live in was sold in 2018, a report by the Local Government Ombudsman revealed. Within weeks he’d used used the cash to settle a debt he’d built up abroad. He had…
Fox News senior judicial analyst Judge Andrew Napolitano breaks down the Supreme Court’s ruling calling for a restructuring of the Consumer Financial Protection Bureau. WASHINGTON — TheSupreme Courton Monday ordered changes to a government consumer-finance watchdog created in the wake of the 2008 financial crisis, ruling the agency’s structure was unconstitutional because its director held…
Lawmakers and businesses are pushing the U.S. government to offer debt relief to hundreds of small hotel owners who borrowed with the help of bond markets. But the biggest beneficiaries of any assistance could be large real estate owners affiliated with properties that owe troubled hotel debt, according to an analysis by hotel union Unite…
The enactment of the new Corporate Insolvency and Governance (CIG) Actinto law on 26 June 2020 will have significant impact on the restructuring of distressed companies, and in particular those affected by the coronavirus pandemic. This will have a knock-on impact on the way DB pension schemes are funded and influence the actions trustees can…
The Act is the largest change to the UKs corporate insolvency regime in more than 20 years. It introduces new corporate restructuring tools and temporary easements to give distressed businesses the breathing space they need to get advice and seek a rescue. One of its key provisions is the introduction of the new role of…
Date published: June 29 2020 Great news from McLaren with Zak Brown saying their financial problems have been solved with an announcement coming before the week is out. Earlier this month reports emerged claiming that McLaren was looking to sell a minority stake in its Formula 1 team to raise much needed capital. Days later…