On 10 November 2020 we held a webinar as part of the IHL series looking at the Corporate Insolvency and Governance Act which came into force in the summer. During the session our panellists outlined the new rules and gave some practical tips for contracts, and other useful steps to think about. You can watch…
Kate Nicholls of trade body UKHospitality says that the sector is facing a “tough winter”, with businesses needing “enhanced grant support to keep venues alive and a solution to the ongoing rent debt problem that continues to linger over the sector”. Of course, the impact is not even across all parts of the market. While…
A Boxborough man accused of holding a man against his will and assaulting him over a three-day period over a purported gambling debt was arraigned in Ayer District Court, the Middlesex district attorneys office announced Thursday. Corey Convey, 34, was ordered held, pending a dangerousness hearing on Nov. 23, at his arraignment Wednesday, prosecutors said…
Joseph R. Biden Jr. will assume the presidency in two months amid dual catastrophes: a raging, once-in-a-century pandemic and a devastated economy. Its a moment that calls for bold and immediate action. And student-debt relief might be one of the big issues the new president moves on quickly. An idea once in the margins enters…
Chinese state owned automaker Huachen Automotive Group has been declared bankrupt and has entered a debt restructuring programme, according to local reports. The company, headquartered in the north eastern Liaoning province, owns four listed companies including Brilliance China Automotive Holdingswhich has a 50:50 joint venture with BMW Group. Huachen Automotive, in a statement on 16November,…
FORT WORTH, Texas–(BUSINESS WIRE)–FTS International, Inc. (NYSE American: FTSI) (FTSI or the Company) today announced that it has successfully completed its fully consensual financial restructuring and has emerged from Chapter 11. Michael Doss, Chief Executive Officer, commented, Today is an important day for FTSI. We have quickly and efficiently completed our financial restructuring and emerge…
By Reuters Staff 3 Min Read FILE PHOTO: Chinese Finance Minister Liu Kun attends a news conference on China’s economic development ahead of the 70th anniversary of its founding, in Beijing, China September 24, 2019. REUTERS/Florence Lo BEIJING (Reuters) – China has extended debt relief to developing countries worth a combined $2.1 billion under the…
One of Australias largest construction companies, Grocon, has gone into administration, leaving thousands of subcontractors at risk of unpaid contracts. Grocon is known for developments such as Melbournes casino, Eureka Tower and the Rialto Towers. Grocons chief executive, Daniel Grollo, blamed its administration on Infrastructure NSW for its handling of the Central Barangaroo project. It…
One of Australia’s best-known builders has declared insolvency and is set to go into administration. Grocon Group has delivered several iconic developments in recent decades, including Melbourne’s casino, Eureka Tower and the Rialto Towers. On Friday after speculation it was in trouble, the company announced it was putting the group’s legacy construction companies into administration.…