Distressed Chinese developer Powerlong Real Estate Holdings unveiled the preliminary terms of a restructuring agreement with an ad hoc group (AHG) of creditors late on Thursday, a deal which is expected to give the Shanghai-based company a brief respite from the ongoing debt crisis. The builder said it had agreed with the AHG on restructuring…
The International Supply Chain (ISC) business will be demerged into a separate entity, Allcargo ECU Limited and will include the India part of International Supply Chain business along with the international subsidiaries and Contract Logistics business would come under Allcargo Logistics. In Q2FY24, Allcargo Logistics reported a revenue of Rs 3,307 crore, a 35 percent…
Allcargo Logistics share price jumped 9.5% on Friday’s session after Allcargo Logistics Ltd and Allcargo Gati boards approved business restructuring on Thursday, as per the company’s exchange filing. Allcargo Logistics share price today opened at 299.55 apiece on BSE today. Allcargo Logistics stock price touched an intraday high of 312.05 and an intraday low of…
BURLINGTON, ON, Dec. 21, 2023 /CNW/ – Element Nutritional Sciences Inc. (CSE: ELMT) (OTC: ELNSF) (FRANKFURT: 93X) (the “Company” or “Element”) announces it has entered into an agreement to extend the engagement of an arm’s-length corporate advisor (the “Service Provider”) for an additional 12-month term. Pursuant to the terms of the agreement, the Service Provider will…
The boards of Allcargo Logistics Ltd and Allcargo Gati Ltd have approved the composite scheme of arrangement for restructuring of businesses under Allcargo Ltd and Allcargo Gati Ltd (formerly Gati Ltd). As per the scheme, the International Supply Chain (ISC) business will be demerged into a separate entity, Allcargo ECU Limited. This would include the…
Bird Global, Inc., an environmentally friendly electric transportation company, has announced its entry into a financial restructuring process aimed at strengthening its balance sheet and better positioning the company for long-term, sustainable growth. Bird will operate as usual during this process, maintaining the same service for its riders and upholding its commitments to partner cities,…
Agilent Technologies has begun implementing a plan to cut approximately 400 jobs and close a number of its facilities by the end of the 2024 fiscal year, according to a 10-K form the company filed with the U.S. Securities and Exchange Commission (SEC). In the SEC report, available on the firms website, the company said…
[embedded content] For In-house Counsel or HR professionals in Asia, what are some key issues to be aware of when implementing a business restructure? There are some key areas you will want to focus on when restructuring a business operation in the APAC region. First, consider the jurisdiction and its challenges. People often think that…
Restructuring and consulting firm Interpath Advisory has suffered its second consecutive annual loss. Rising interest rates have pushed more firms into financial distress, but Interpath has not seen that drive an avalanche of activity, according to its leaders. Even as rate hikes squeeze company finances, many companies which might consider restructuring are somehow avoiding it.…
SAN FRANCISCO With a large investor calling for Corbion NV to explore strategic alternatives, the company is committed to moving forward on a far-reaching restructuring program. While Amsterdam-based Corbion first announced the restructuring plan in October, launching it in response to soft weak financial results, details about the plan were shared in response to a…