Piaggio Declares Insolvency, Seeks Restructuring – Business Jet Traveler

Bankruptcy

Piaggio Aerospace recently declared insolvency, asking for extraordinary administration that would facilitate restructuring, the company confirmed. Under extraordinary administration, the Italian government will appoint a commissar who will work to guarantee business continuity, a spokesman said. The move comes a year after the financially troubled Italianmanufacturer outlined a five-year turnaround plan that included a 255…

Amy Foundation fears more funders may withdraw amid strike – Independent Online

Bankruptcy

File photo: Ayanda Ndamane/ African News Agency (ANA) Cape Town The Amy Foundation fears that more funders may withdraw their support to the organisation facing a number of challenges, including a strike by employees. The foundations managing director, Kevin Chaplin, has confirmed that 13 funders have already withdrawn. This as its employees vowed to intensify…

RCR Tomlinson collapse highlights subcontractor crisis – Australian Mining

Bankruptcy

Latest News The Australian Subcontractors Association (ASA) has called on the federal government to provide greater protection for subcontractors in the wake ofrecent administration woesof engineering firm RCR Tomlinson. Last week, the storied contractor delivereda surprising news that it was appointing voluntary administrators due to financial troubles. In August, RCR raised $84 million on an…

Piaggio Declares Insolvency, Seeks Restructuring – Aviation International News

Bankruptcy

Piaggio Aerospace declared insolvency late last week, asking for extraordinary administration that would facilitate restructuring, the company confirmed. Under extraordinary administration, the Italian government will appoint a commissar who will work to guarantee business continuity, a spokesman said. The move comes a year after the financially troubled Italianmanufacturer had outlined a five-year turnaround plan that…

Piaggio Aerospace Declares Bankruptcy – Aeronautics Online

Bankruptcy

Piaggio Aerospace, the traditional Italian aircraft manufacturer, has filed for insolvency. The company, which was controlled by Abu Dhabi-based investment association Mubadala, declared bankruptcy on 22 November. According to Italian media, the decision wasnt made easy but was necessary for a complete restart. PiaggioAerospace needs to escape ongoing uncertainties stemming from its current financial situation.…