The government will order three warships worth 3.2 trillion won ($2.7 billion) next month to help shipbuilders survive plunging global demand. It also vowed to prepare detailed action plans to strengthen the competitiveness of the shipbuilding, shipping, steel and petrochemical industries. “Corporate restructuring is a difficult process that takes a long time. We can reach…
BOULOGNE-BILLANCOURT, France–(BUSINESS WIRE)–Regulatory News: SoLocal Group (Paris:LOCAL): Q3 2016 results: Internet revenues of 156 M (representing 79% of total revenues), up +3%1 EBITDA2: 60 M, down -24%1, EBITDA/revenue margin3 of 30% Outlook for 2016 confirmed: Internet revenue growth rate between 0% and +2% EBITDA/revenue margin2: 28% Conquer 2018 plan postponed by 6 months due to…
Communication solutions provider ShoreTel has announced four major internal appointments to its ANZ business as the company focuses on scaling up its cloud services while maintaining its onsite business. The four appointments will form the basis of the organisation’s restructuring into four business units: Channels, Client Sales, Customer Success and Service Design and Activation. Each…
Wednesday, November 23, 2016 The European Commission is for the first time presenting a set of European rules on business insolvency this Tuesday. Well-functioning insolvency and restructuring systems are key to supporting economic growth and job creation. This initiative will increase the opportunities for companies in financial difficulties to restructure early on so as to…
BOULOGNE-BILLANCOURT, France–(BUSINESS WIRE)–Regulatory News: SoLocal Group (Paris:LOCAL): Creditors (funds managed or advised by Paulson & Co., Monarch Alternative Capital (Europe) Ltd and Amber Capital UK Holdings Ltd) representing approximately 37% of the outstanding debt and parties to the agreement with the Company on the revised financial restructuring plan announced on 3 November 2016, have sent…
NEW DELHI: Not-for-profit companies having a minimum net worth of Rs 10 crore will be eligible to act as an insolvency professional agency under the Insolvency and Bankruptcy Code. Moving ahead with implementation of the Code, two sets of regulations have been notified by the Insolvency and Bankruptcy Board of India (IBBI). The Model Bye-Laws…
Airbus’s logo is seen during Japan Aerospace 2016 air show in Tokyo Thomson Reuters PARIS (Reuters) – Restructuring plans at planemaker Airbus could result in 780 job cuts, French business newspaper Les Echos reported on Wednesday, citing an estimate from the CFTC trade union. Airbus Group in September announced it would merge with its planemaking…
Author: European Commission. The following press release was issued by the European Commission on November 22, 2016 16:50. Well-functioning insolvency and restructuring systems are key to supporting economic growth and job creation. This initiative will increase the opportunities for companies in financial difficulties to restructure early on so as to prevent bankruptcy and avoid…
WASHINGTON, Nov. 22, 2016 (GLOBE NEWSWIRE) — FTI Consulting, Inc. (NYSE:FCN) today announced that Carlyn Taylor, Global Co-Leader of the Company’s Corporate Finance & Restructuring segment, has been named the 2016 Woman of the Year in Restructuring by the International Women’s Insolvency & Restructuring Confederation (“IWIRC”). A photo accompanying this announcement is available…
DALLAS–(BUSINESS WIRE)–Jacobs Engineering Group Inc. (NYSE:JEC) today announced its financial results for the fourth quarter and fiscal year ended September 30, 2016. Fiscal 2016 Highlights: Q4 2016 U.S. GAAP net earnings of $30M, or $0.24 per diluted share, and fiscal 2016 U.S. GAAP net earnings of $210M, or $1.73 per share; Q4 2016 adjusted net…