Jan 25, 2024 1.45pm The Melbourne Rebels is expected to fall into voluntary administration as early as Thursday afternoon, adding to a long list of companies chaired by businessman Paul Docherty that have collapsed in the last two months. The Australian Financial Review revealed last month that the rugby union club had outstanding tax bills…
This article attributes to the entire Australian Restructuring team. Overview There has been a growing appetite for corporate insolvency law reform in Australia in the last 18 months. In 2021, public consultations were completed on improvements to creditors schemes of arrangement and the treatment of insolvent trusts, and there was an independent review of the…
Westpac NZ has updated its bankruptcy policy to improve access to basic banking services for Kiwis going through tough times. The Westpac NZ Access to Banking in Aotearoa Report, released last year, found New Zealanders who had been made bankrupt often had their bank accounts closed and subsequently struggled to open a new account. The…
By Sabela Ojea Mativ is putting in place a restructuring plan to reduce costs by $40 million by the end of 2026 as it reorganizes its business structure and lays off senior employees. The specialty materials company on Wednesday said the cost-cutting plan will help it increase cashflow and reach mid-teen earnings, before interest, taxes,…
If you feel trapped by credit card debt, there are strategies you can use to pay your debts off faster. Mark Evans / Getty Images If you carry credit card debt from month to month, you may feel trapped. After all, credit cards generally come with high interest rates, and when you make minimum payments…
Jason DeJonker, partner at Seyfarth Shaw LLP (Photo: Business Wire) Scott Olson, partner at Seyfarth Shaw LLP (Photo: Business Wire) Richard White, partner at Seyfarth Shaw LLP (Photo: Business Wire) Corporate partners Jason DeJonker, Scott Olson and Richard White join in Chicago, San Francisco and Atlanta CHICAGO, January 24, 2024–(BUSINESS WIRE)–Seyfarth Shaw LLP continues the…
The worlds poorest countries face ballooning debt service payments, record high refinancing costs, limited access to markets, and severely reduced capital inflows. Without action, 2024 will see a further rise in debt vulnerability potentially leading to reversals in development outcomes. In this context, the current global debt relief architecture has focused mostly on countries with…
As 2024 starts, the good news is that there havent been any notable requests by a low-income country for comprehensive debt relief since Ghanas, more than a year ago. Despite this, vulnerabilities remain, with high debt servicing costs a growing challenge for low-income countries. Financing pressures due to relatively high interest payments and the pace…
Sportradar Chief Finance Officer Gerard Griffin and Chief Strategy Officer Ulrich Harmuth are leaving the company, according to a Wednesday morning announcement, which also detailed a restructuring of its business. The sports data companys stock (Nasdaq: SRAD) was relatively flat when the market opened Wednesday. Griffin, who joined Sportradar less than a year ago, is…
One of Europes biggest tech companies is restructuring 8,000 jobs in an effort to shift their focus to AI. ADVERTISEMENT SAP shares jumped more than 9% on Wednesday and hit record levels after the software giant announced restructuring plans affecting thousands of jobs, as the company prepares for generative AI to fundamentally change its business.…