In this article PL Follow your favorite stocksCREATE FREE ACCOUNT Traders work on the floor of the New York Stock Exchange (NYSE) on December 08, 2021 in New York City. Spencer Platt | Getty Images Satellite-imagery and data-analysis company Planet is restructuring and laying off 117 employees, it announced on Tuesday. The layoffs affect about…
The legislation, introduced in September 2022, aims to facilitate the sale of business units and streamline often lengthy restructuring processes by essentially giving creditors more powers. One of its key innovations was the possibility for debt holders to unilaterally present a plan in court, without this implying an insolvency proceeding or the suspension of payments.…
BUSINESS RESTRUCTURING REVIEWVOL. 22 NO. 4 JULYAUGUST 20231IN THIS ISSUE1 Second Circuit Green Lights Purdue Pharma Chapter 11 Plan Containing Nonconsensual Third-Party Releases2 Lawyer Spotlight: Tom Wearsch6 Illinois Bankruptcy Court: Whether Dispute Is Core or Non-Core Not Bright Line in Determining Enforceability of Arbitration Clause9 California Bankruptcy Court Examines Chapter 15 Discovery Rules12 U.S. Supreme Court Bankruptcy…
The board of Fino Payments Bank has approved the transition into a Small Finance Bank (SFB) subject to necessary approvals. We intend to supplement payments bank business with lending to known customers through enhancement of license. Our opportunity to grow by transiting to SFB is significant on the back of optimal leveraging of our widespread network…
Companies NAK Naftohaz Ukrainy PAT Follow KYIV, July 28 (Reuters) – Ukraine’s Naftogaz said on Friday that holders of its 2022 and 2026 bonds had approved debt restructuring proposals, opening the way to ending a months-long default. “The outstanding success of this consent solicitation, which was supported by over 85% of the holders, will allow…
Cineworld said on Friday that it will suspend its listing on the London Stock Exchange as part of plans to restructure its business and accounts to reduce heavy debt. The company revealed last month that it would file for administration in the UK. The worlds second-biggest cinema chain, which owns Regal in the U.S., filed…
One of Chinas largest-ever debt restructurings is starting to take shape. China Evergrande Group was declared to be in default in late 2021, the highest-profile casualty of a broader crisis in the countrys property development industry. The government has stepped in to oversee the rescue, quelling fears of a disorderly collapse that could have jolted…
The retailer said it is working with employees to identify new roles for them within the company, and those who do not find another position will be given severance pay. / Photo courtesy: Heather Lalley Less than a week after closing three of its stores in the U.K., Amazon Fresh laid off hundreds of its…
Its pretty easy to write about everything thats going wrong in todays cannabis industry. Today, I want to change gears and talk about some of the strategies weve seen work for distressed cannabis businesses in the past. Yes, some of these strategies may seem obvious at first. But pulling them off correctly especially in a…
Heron Therapeutics, a San Diego biotechnology company that makes cancer and pain-management therapies, is cutting a quarter of its workforce and taking measures to save money. The goal is to run a lean operation that can achieve profitability in late 2024, according to Mondays announcement. The latest cost-saving measures are projected to save the company…