(Adds details in paragraph 3 and 6) Dec 18 (Reuters) – Crop protection products maker FMC said on Monday it has initiated layoffs in its Brazil business and a global restructuring plan, in response to the unprecedented global downturn in the sector. Worries over supply chain disruptions following the pandemic had prompted distributors to stock…
Akin financial restructuring partner Liz Osborne has been quoted in Legal Business article A new era of stress: Perspectives from City restructuring partners and what to expect from 2024. The article explores some of the key themes of restructuring in 2023 and looks ahead to the coming year. Reflecting on the activity of the past…
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…
The system for managing corporate insolvency varies in fundamental ways between countries, with important effects on economic outcomes. Chapter 11 of the U.S. Bankruptcy Code forms the legal basis of the successful American regime, which can handle distress in a formal process without liquidating assets, closing businesses, and with limited job losses. Many countries aim…
The board of London-listed energy services company Petrofac has selected Moelis & Company and Teneo as advisors to its major restructuring overhaul. Petrofac, a company that offers services related with oil and other energy infrastructure, recently announced that it is exploring the sale of non-core assets in order to address a reduction in cash flow.…
New Delhi: B2B e-commerce platform Udaan has laid off 100-120 employees, people aware of the developments told ETRetail. The layoffs come post-consolidation of Udaans two business verticals essentials and discretionary. In September, the e-commerce major announced organisational changes in an attempt to drive efficiency by merging and consolidating its essentials business with the discretionary business.…
Instafreight has filed for insolvency with a court in Germany but its founder remains confident that restructuring could see the business continue. Having filed at the Berlin-Charlottenburg bankruptcy court on Wednesday, it was reported that while its 3PL forwarding division had been temporarily discontinued, its 4PL transport management unit would operate as normal. Yesterday, The…
WELCOME As the 2023 calendar year rapidly draws to a close, chances are you have people in your business and personal circles that are feeling the financial pinch – its been a tough year for many. The fast-approaching festive season can also bring heightened emotions and additional financial pressures for some. In a recent statement,…
File photo. Photo: 123rf Employers and Manufacturers Association (EMA) is seeing increasing demand from employers looking for advice on restructuring and redundancy, as they look to cut costs. EMA head of advocacy Alan McDonald said requests had been steadily rising through the year, with a sharp increase over the past four months. EMA head of…
This section is Partnership Content supplied The content in this section is supplied by Business Wire for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content. by Business Wire Breadcrumb Trail Links PMN Press Releases Business Wire News Releases santec Leverages Rimini Consult to Comprehensively Restructure its…