The Chinese electric car start-up Byton, once launched with great ambitions, is going bankrupt. One may be tempted to say finally since the danger of going out of business was on the horizon for nearly two years. Yet, we look back at what could have been a great story as well. The news of a…
Several mechanisms of enforcement are in place to allow commercial landlords to recover rent arrears from a commercial tenant. Often these are based in the contract and governed by the terms of the specific lease (forfeiture or damages for breach of contract). Some are found in statute such as the Commercial Rent Arrears Recovery (CRAR)…
Delays in developing an enhanced framework for sovereign debt restructuring are preventing distressed countries from ensuring sustainable sovereign debt stocks and regaining access to international capital markets, leaving their sovereign credit ratings in default or near a default grade for longer periods. This adds to the human costs of default, contributing to risk of a…
Embracer Group has issued 80 million new B shares. The raised funds will help the Swedish holding company achieve certain goals as part of its restructuring program. According to the official announcement, Embracer Group will receive SEK 2 billion ($183 million) through the direct share issue. The subscription price is SEK 24 per B share,…
Astra is carving out its spacecraft engine business as a wholly owned subsidiary, a corporate restructuring that will provide greater flexibility in hiring and financing, according to documents viewed by TechCrunch and a person familiar with the matter. The new subsidiary, Astra Spacecraft Engines, Inc., was incorporated in Delaware on June 5 and filed with…
Seven lessors have secured access to their aircraft after the High Court of Delhi ordered Go Air India Ltd, trading as Go First (G8, Mumbai International), to grant the lessors immediate and ongoing access to their aircraft for maintenance and inspection purposes. It is a partial victory for the lessors, who had been seeking to…
Reading Time: 2 minutes Happy Valley Nutrition has gone into voluntary administration, appointing Andrew Grenfell and Kare Johnstone of restructuring and advisory firm McGrathNicol. The announcement, made on the Australian Stock Exchange, takes effect on July 5. The statement said that the administrators are undertaking an urgent review of HVN. HVN chair Kevin Bush said…
Jul 6, 2023 1.08pm Newly appointed McGrathNicol partner Tony Barnes says big organisations are still struggling to protect themselves from cyber threats and that complacency in cybersecurity will hurt the sale value of otherwise attractive businesses. Tony Barnes joins McGrathNicol from Cyber Partners Australia After making the unusual transition from journalism to consulting via a…
Astra is carving out its spacecraft engine business as a wholly owned subsidiary, a corporate restructuring that will provide greater flexibility in hiring and financing, according to documents viewed by TechCrunch and a person familiar with the matter. The new subsidiary, Astra Spacecraft Engines, Inc., was incorporated in Delaware on June 5 and filed with…