ByHT News Desk | Written by Aryan Prakash May 02, 2023 05:28 PM IST Share Via Copy Link Go First said it has been forced to ground 25 aircraft, which is approximately 50 per cent of its Airbus A320neo aircraft fleet as of 1 May 2023. Air Carrier Go First Airways on Tuesday filed for…
May 2, 2023 Practices: Business Restructuring, Capital Solutions & Private Credit, Private Equity, Finance, Tax Industries: Private Equity Ropes & Gray represented Rodan + Fields in securing consent from nearly all its lenders to the companys non-pro-rata uptier debt exchange. With the help of Ropes & Gray, Rodan + Fields negotiated and launched a cutting-edge…
Company insolvencies increased by nearly 20% in the first three months of 2023 compared with the same period last year. R3, the insolvency and restructuring trade body for Dorset has said that the figure of 5,747 corporate insolvencies in January, February and March were the highest for any first quarter of a year in England…
Go First (G8, Mumbai International) has filed for insolvency at the National Company Law Tribunal in Delhi, blaming Pratt & Whitneys defective and failing engines for a cash-flow crisis, it said in a two-page statement on May 2. According to local media, it has suspended its flights for May 3 and 4. The low-cost carrier…
Manchester-based fintech Open Money has issued an official statement following reports over the bank holiday weekend that staff wages would be going unpaid as the company enters a CVA and undergoes large scale restructuring under its new owners. The statement confirms that payment of salaries for a number of members of staff across the business…
Ample Liquidity to Fund Day-to-Day Operations During Court-Supervised Process ORLANDO, FL & AUSTIN, TX, May 01, 2023 (GLOBE NEWSWIRE) — DeCurtis Corporation (DeCurtis or the Company), the leading provider of location and proximity enabled solutions in complex environments, has entered into an agreement with Invictus Global Management, its largest prepetition secured lender, on a sale…
Wadia group-owned Go First on Tuesday filed an application for voluntary insolvency resolution proceedings before the National Company Law Tribunal (NCLT), said CEO Kaushik Khona. The airline has informed the government about the developments and will also be submitting a detailed report to aviation regulator Directorate General of Civil Aviation (DGCA). “Go First has had…
Restructuring Support Agreement Supported by Holders of More Than 80% of the Company’s Senior Secured Notes and 100% of the Company’s Second Lien Term Loans Transaction Will Significantly Strengthen the Company’s Financial Position by Eliminating Approximately $511 Million of Secured Debt Through Conversion into Equity Operations to Continue Without Interruption Through and Following the Process…
Vice Media Group, the company behind popular media websites such as Vice and Motherboard, is preparing to file for bankruptcy, the New York Times reported on Monday, citing people with knowledge of its operations. The report comes days after Vice shuttered its Vice News Tonight program, and amid waves of media layoffs and closures, including…
China on Monday urged the United States to earnestly shoulder its responsibilities and make greater efforts to address debt issues in African countries. Chinese Foreign Ministry Spokesman Wang Wenbin made the call at a press conference in Beijing when responding to accusations from some U.S. and World Bank officials that China is an obstacle in…