Reuters. Trinseo (NYSE: NYSE:), a global materials company, discussed its fourth-quarter earnings, outlining several strategic actions taken to mitigate the challenges of a tough year and setting the stage for a potential rebound in 2024. The company announced restructuring efforts, including the closure of a facility in the Netherlands and the consolidation of its European…
Opinion editor’s note: Editorials represent the opinions of the Star Tribune Editorial Board, which operates independently from the newsroom. Walt Myers recently shared the financial difficulties he endured because of the $135,000 in medical bills he owed to cover his late wife’s breast cancer treatments. At a Feb. 9 State Capitol news conference, the Lakeville…
Wisdom Debt Relief Tustin, CA, Feb. 14, 2024 (GLOBE NEWSWIRE) — Wisdom Debt Relief, a leading advocate for financial empowerment, is proud to announce the launch of its innovative debt resolution program aimed at assisting consumers in overcoming high-interest debts. With credit card debt in the United States soaring to unprecedented levels, Wisdom Debt Relief recognizes the…
Amid declining sales, apparel retailer Express has hired restructuring adviser M3 and law firm Kirkland & Ellis to help restructure nearly $280 million of debt, according to the Wall Street Journal, which cited people with knowledge of the matter. If the company is unable to successfully restructure its debt, a bankruptcy filing could be imminent. Express…
Abu Dhabi Global Market (ADGM) is set to host the 2nd Annual Financial Restructuring Mena Conference from February 19 to 20, 2024, to discuss strategies for addressing corporate insolvencies in the region. Insolvencies are a result of the continued spike in interest rates and inflation. Worldwide, 15% of the corporate bonds and loans trading at…
In a bid to strengthen the resolution process pertaining to personal guarantors, the Insolvency and Bankruptcy Board of India has mandated resolution professionals to provide a copy of its report containing recommendations to both creditors and debtors. Under the Insolvency and Bankruptcy Code, a resolution professional is required to submit a report before the adjudicating…
The company deceived consumers into signing up to a subscription charging them almost 30 a month Paragrim Ltd tricked consumers into signing up to the Mediacraze.net website Consumers were charged a monthly direct debit without their permission and which they were unable to easily unsubscribe from Insolvency Service investigations found no evidence the website provided…
NEW DELHI: Insolvency and Bankruptcy Board of India (IBBI) has made major amendments to strengthen the regulatory framework of the liquidation process under Insolvency and Bankruptcy Board of India Regulations, 2016 and notified the amendment on February 12, 2024. These changes are aimed at facilitating a smoother process for liquidation, ensuring accountability, and bolstering the…
New Delhi: The National Company Law Tribunal (NCLT) on Tuesday extended by 60 days the deadline for completion of Go First airline’s corporate insolvency resolution process (CIRP).Last month, the committee of creditors (CoC) of the budget carrier had directed the resolution professional (RP) appointed for the CIRP to seek an extension of 60 days from…
Glass tableware manufacturer Ritzenhoff has filed for insolvency under self-administration due to economic challenges. The company is well-known for its colourful designs on drinking glasses that can be found in many German households. The company said the move was part of a strategy for the long-term stabilisation of the company amid ongoing business operations. It…