Lenders to Essar Steel will be meeting on Wednesday to discuss restructuring of company’s long-term debt of Rs 40,000 crore. The meeting will discuss various options including conversion of portion of loan into instruments carrying specific interest rates. The proposal coming up for discussion has been on the table for the…
Hong Kong boutique Howse Williams Bowers (HWB) has hired a team of restructuring and insolvency lawyers from Ashurst, led by partner Bertie Mehigan. Mehigans appointment continues a year of key partner hires for HWB, which has added Janet Lee from the Hong Kong governments Lands Department, Antony Yung from JP Morgan and Christopher Yu from…
Healthcare major Apollo Hospitals Enterprise Ltd (AHEL) is expecting the six-member committee it formed to look into restructuring existing businesses to come out with its decisions in a year’s time. The company on Thursday said its Board of Directors has deliberated the possibility of various options to restructure the businesses by…
BLOOMFIELD HILLS, Mich.–(BUSINESS WIRE)–Mackinac Partners, a leading financial advisory and turnaround management and restructuring firm, is pleased to announce the addition of highly accomplished turnaround, restructuring and M&A executives Michael Nowlan and Craig Boucher to the firm. Michael Nowlan, based in Boston, has over 25 years of strategic, financial, turnaround management and restructuring advisory experience…
Navigating Uncertainty: Loaded cargo ships docked at the Port of Long Beach. Photo by Courtesy Photo Hanjin Shippings creditors have moved up their meeting to consider whether the cargo carriers restructuring plan is enough to prevent the company from facing bankruptcy and court receivership. According to The Korea Times, the…
SKÄRHAMN, Sweden–(BUSINESS WIRE)–Regulatory News: With reference to previous communication related to the ongoing financial restructuring of Viking Supply Ships A/S (VSS A/S): The company has now reached an agreement with the committee representing a majority of the outstanding bonds. Subject to approval of the proposal at a bondholders meeting, this finalizes the total financial restructuring of…
SYDNEY (AP) Qantas Airways Ltd. posted a record full-year profit of 1.53 billion Australian dollars ($1.1 billion) on Wednesday, after undergoing a cost-saving restructuring amid steep losses just two years ago. The airline’s result for the fiscal year through June is a 57 percent boost over last year’s profit of AU$557 million, and prompted Qantas…
When the restructuring is complete, current holders of Keys senior notes are expected to own about 95 percent of the reorganized companys common stock, and Keys current common equity holders will own the remaining 5 percent. Los Angeles-based investment firm Platinum Energy is expected to become Keys largest shareholder. In a statement, Platinum Equity Partner…
Tata Global Beverages (TGBL) is exploring multiple options, including restructuring or sale, for its China operations. TGBL chairman, Cyrus Mistry, acknowledged that the company has had challenges in China operations. We continue to have those challenges and the reason was from a production perspective, he said, responding to a shareholder query on the…
Tata Global Beverages (TGBL) is exploring multiple options, including restructuring or sale, for its China operations. TGBL chairman, Cyrus Mistry, acknowledged that the company has had challenges in China operations. We continue to have those challenges and the reason was from a production perspective, he said, responding to a shareholder query on the…