Opus Business Advisory Group has purchased SKSI and its subsidiary MLM CPS. The insolvency specialists will join the specialised Opus Restructuring of the company. Founded in 2013, London headquartered Opus Business Advisory Group offers up restructuring, corporate finance, forensic accounting, turnaround, investment and rescue planning services to clients across the UK. The firm has over 60…
(Bloomberg) — At its height, the empire of luxury retail and real estate tycoon Rene Benko appeared to have no limits. It extended from Europe to the US, boasting a trophy case that included stakes in some of the worlds most recognizable properties, including the Chrysler Building in New York and the UK department store…
From 1 January 2021, Australias insolvency framework for small businesses changed. The purpose of the change was to assist small businesses, with debts under AUD $1 million, to survive specifically, by providing these businesses with simpler, more flexible restructuring options outside the existing one size fits all voluntary administration and scheme of arrangement processes available…
In times of economic uncertainty, SME businesses are generally squeezed harder than larger ones, with fewer levers to help them navigate financial distress. This is particularly relevant for manufacturing businesses, which have faced headwinds in recent times caused by high inflation, increasing interest rates, supply chain issues and challenges sourcing skilled people. This uneven playing…
Air Methods Corporation (Air Methods or the Company), the leading air medical service provider in the U.S., announced today that it has successfully emerged from Chapter 11 with significantly reduced debt and increased liquidity that positions the Company for long-term success. Air Methods is moving forward as an industry leader in air medical services and…
Taeyoung E&Cs Office Building in Yeouido, Seoul. [Photo by Kim Ho-young] South Koreas mid-tier builder Taeyoung Engineering & Construction Co. on Thursday applied for a debt workout amid fears over liquidity shortage sparked by troubled real estate project financing (PF) deals. Taeyoung E&C filed for a workout today morning, said a financial industry official on…
The anticipated completion of Yandex’s restructuring, a Nasdaq-listed Russian tech company is likely to be postponed until early 2024, Reuters reported. Often dubbed Russia’s Google, Yandex has been in talks with the Kremlin for over a year to separate its Russian businesses from its Dutch parent company, Yandex NV. The restructuring, initially set for December, is…
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MOSCOW: The completion of Nasdaq-listed Russian tech company Yandex’s restructuring is expected to be delayed into next year, two sources familiar with the negotiations told Reuters on Monday.Dutch holding company Yandex NV has been working on a restructuring for months, as it tries to ensure some of its businesses retain access to Western markets despite…
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…