One of Australia’s largest container companies, SCF Group, will be restructured after its main backer appointed receivers to the parent companies. British investment giant Intermediate Capital Group appointed receivers from McGrath Nicol to Popeye Holdco and Popeye Bidco, the entities that own SCF Group. SCF Group is one of Australia’s largest shipping container companies. Photo: SeongJoon Cho…
SIENA Monte dei Paschi di Siena is still negotiating with the European Commission how many jobs to cut in a radical restructuring plan that is a condition for a state rescue of the Italian bank, Chief Executive Marco Morelli said on Wednesday. Continue Reading Below The world’s oldest bank, whose troubles date back several years,…
SCOTTSDALE, Ariz., April 12, 2017 /PRNewswire/ — Nuverra Environmental Solutions, Inc. (“Nuverra” or the “Company”) (NESC) announced today that it has entered into a Restructuring Support Agreement (“RSA” or the “agreement”) with the holders of more than 80% of the Company’s outstanding 12.50%/10.0% Senior Secured Second Lien Notes due 2021 (the “2021 Notes”) to complete…
A logo of Monte dei Paschi di Siena bank is seen on the ground in Siena Thomson Reuters By Silvia Aloisi and Stefano Bernabei SIENA, Italy (Reuters) – Monte dei Paschi di Siena is still negotiating with the European Commission how many jobs to cut in a radical restructuring plan that is a condition for…
Unilife Corporation today announced that it has commenced a formal proceeding to restructure its balance sheet or to sell its assets as a going concern in order to better position the business for the future. To facilitate this restructuring or sale, the company filed voluntary petitions under chapter 11 of the U.S. Bankruptcy Code in the United…
The Australian sharemarket defied offshore caution but early gains were halved as profit taking hit miners on fading global reflation hopes. Wall Street stocks closed flat last night on rising geopolitical risks, but after opening slightly negative, the S&P/ASX 200 index ramped 0.6 per cent to a fresh two-year. However, the index dropped back and…
A.M. Castle & Co. CEO Steve Scheinkman By CRAIN’S CHICAGO BUSINESS For A.M. Castle & Co., the only real question at this point is whether the struggling metals distributor will restructure its $299 million in debt in bankruptcy court, or out of it. Oak Brook, Ill.-based Castle, which has a 155-employee operation in Bedford Heights, …
The share market remains at a two-year high after a third straight day of gains, thanks to strong demand for financial and energy companies. The benchmark S&P/ASX200 index rose 0.3 per cent, after rising 0.9 and 0.1 per cent in the previous two trading sessions. CMC Markets chief market analyst Ric Spooner said the financial…
Cyprus Semiconductor and Its Cypress 3.0 Model: Earnings Driver? PART 4 OF 16 By Paige Tanner | Apr 10, 2017 1:14 pm EDT Cypress restructures business segments In the previous part of this series, we saw that Cypress Semiconductor (CY) is restructuring its business to align with its renewed focus and strengthen its go-to-market strategy.…
ZAGREB (Croatia), April 10 (SeeNews) – Croatia’s government has named financial and economic expert Ante Ramljak as receiver of troubled food and retail concern Agrokor, the prime minister said on Monday. “This is a political decision that will stabilise the current economic situation in Croatia”, Andrej Plenkovic said during an extraordinary session of the government…