Profits have halved at one of Britains biggest brick makers as rising interest rates hit demand for new homes. Forterra said it expects pre-tax profits of 18 million for the first half of this year down from 37.3 million. As a result the business which recently opened Europes biggest brick factory in Desford, Leicestershire said…
Hello and welcome back to Max Q! I hope everyone had a wonderful July 4. In this issue: Astras corporate reorganization News from Pulsar Fusion and more Astra is carving out its spacecraft engine business as a wholly owned subsidiary, a corporate restructuring that will provide greater flexibility in hiring and financing, according to documents viewed by…
July 10, 2023 Practices: Business Restructuring Global law firm Ropes & Gray announced today that Natasha S. Hwangpo, a restructuring partner who has guided notable restructurings has joined the firms 500-lawyer New York office. Natashas addition continues to enhance Ropes & Grays rapidly expanding restructuring and liability management practice. Natasha has an extensive track record…
Eversheds Sutherland is pleased to announce that Rene Dailey has joined the US Finance Practice Group as partner. Ms. Dailey advises institutional investors in US, Australian and cross-border debt finance and financial restructuring matters. Her practice also includes advising insurance companies on their front-end investment structures, intercreditor arrangements and workouts. I am thrilled that Rene…
The Non-Standard Finance group (NSF) has completed a financial restructuring, which involved the sanction of a scheme of arrangement to provide certainty as to the extent of its liability for historical redress liabilities and culminated in the transfer of its operating business to a newly-incorporated group owned by its secured lenders. The scheme of arrangement,…
HONG KONG, July 8 (Reuters) – Ant Group on Saturday announced a surprise share buyback that values the fintech giant at $78.54 billion, well below the $315 billion touted in an abandoned IPO in 2020, in a move that may let some investors exit after a lengthy regulatory overhaul of the firm. The news came…
HANGZHOU, CHINA – OCTOBER 27: A logo of Ant Group is seen at the company’s headquarters on October 27, 2020 in Hangzhou, Zhejiang Province of China. Vcg | Visual China Group | Getty Images Ant Group on Saturday announced a share repurchase plan that values the fintech giant at 567.1 billion yuan ($78.54 billion), as…
Burlington, Ont.-based Tiptap and Laval, Qu.s Omnirobotic are restructuring after both startups were unable to secure the financing necessary to support their existing operations and obligations. The two companies are the latest in a growing list of Canadian tech startups to restructure after facing difficulty securing venture capital (VC) during the downturn as rising interest…
Wilko, one of Britains biggest discount retailers, is racing to secure a cash injection as it prepares to launch a financial restructuring aimed at securing its future. Sky News has learnt that Wilko, which is owned by its founding family and employs about 12,000 people, is working with advisers to raise tens of millions of…
8VI Holdings Limited announced the commencement of a comprehensive corporate restructuring initiative as part of measures aimed at securing long-term survival and sustainability of the Group. While a series of intervention had been implemented before this current financial year, the Group experienced greater than anticipated headwinds within the first quarter of FY2024, prompting further strategic…