China has started a special refinancing bond program to service the outstanding hidden debts of the governments of a number of provincial regions, which analysts said marked a key step forward after the central government proposed a package of debt relief measures. Starting from September, more than 20 provinces participating in the program have issued…
Moving Forward as a Stronger Company With a Significantly Improved Balance Sheet and Increased Financial Flexibility David Stetson and Jon Zinman Appointed to New Board of Directors DUBLIN, Nov. 14, 2023 /PRNewswire/ — Mallinckrodt plc (“Mallinckrodt” or the “Company”), a global specialty pharmaceutical company, today announced that it has completed its financial restructuring, emerged from…
Capital solutions and private credit partner Leonard Klingbaum and business restructuring partner Matthew Roose will present on a panel titled The evolving landscape of lender-on-lender tension at the Debtwire Restructuring Forum in Miami on December 6. The presentation will examine: How bankruptcy judges open market purchase or non-pro-rata debt exchange rulings are impacting creditors and…
The right home equity loan could be the key to getting rid of high-interest credit card debt. Getty Images/iStockphoto Credit card debt can be difficult to manage, even under the best economic conditions. But in today’s inflationary environment, it can be particularly challenging. Many Americans are even turning to their credit cards and taking on…
WeWork Inc. never figured out how to make money. Adam Neumann sure did. The office-leasing business declared bankruptcy this week, two years after finally going public minus its infamous co-founder. It has $19 billion of liabilities and $15 billion of assets. Longtime investors, including Softbank Group Corp. and the Vision Fund, will add to the…
Reuters. NEW YORK – General Electric Co. (NYSE:) has laid out the leadership framework for its impending corporate split, which will see the establishment of two distinct entities, GE Vernova and GE Aerospace, by the second quarter of 2024. In a strategic move to streamline its business, GE announced on Tuesday that Stephen Angel will…
Paylink, a leader in the financial technology sector, is proud to announce its groundbreaking product, ReFi – a unique, safe and secure automated debt consolidation solution which, since its inception has saved Salary Finance customers over 10 million in interest payments. ReFi, piloted by leading financial wellness platform, Salary Finance, is the first True Debt…
Jones Day has strengthened its restructuring practice in Germany with the hire of a partner from Ashurst. Alexander Ballmann specialises in insolvency and restructuring proceedings, as well as distressed M&A transactions, and will join the US-based firms business restructuring and reorganization practice in Munich. Alexander has deep roots here in Munich, and is generally regarded…
Nov 14 (Reuters) – Tech company Yandex’s (YNDX.O) Dutch holding company is considering selling all its Russian assets in one go rather than just a controlling stake, three people close to the matter told Reuters, as parties race to finalise a deal before the end of the year. Yandex, which has been working on a…
Jones Day has strengthened its restructuring practice in Germany with the hire of a partner from Ashurst. Alexander Ballmann specialises in insolvency and restructuring proceedings, as well as distressed M&A transactions, and will join the US-based firms business restructuring and reorganization practice in Munich. Alexander has deep roots here in Munich, and is generally regarded…