The coronavirus (COVID-19) pandemic was a black swan event that caused huge disruption and distress for many companies. Though it has receded, companies have been forced to contend with other financial and geopolitical challenges. Inflation, higher interest rates and wars in Ukraine and the Middle East have contributed to the squeeze. At the same time,…
KakaoEntertainment’sheadquartersbuilding(CourtesyofYonhap) South Korea’s Kakao Entertainment Corp., a unit of mobile platform giant Kakao Corp., is seeking renewed growth through corporate restructuring and closer ties with its global webtoon platform operator Kakao Piccoma. In a town hall meeting with employees on Friday, Kakao Entertainments two new co-chief executives Kisu Kweon and Joseph Chang said they will…
HanwhaOcean’sdockyardinGeoje,SouthGyeongsangProvince Hanwha Corp., the holding company of South Koreas chemicals-to-defense conglomerate, will hive off wind power and offshore plant building operations to Hanwha Ocean Co., while separating its solar panel manufacturing business into Hanwha Solutions Corp., as part of the groups management efficiency efforts. The transfer of the businesses, worth 440 billion won ($327 million),…
Last year we presented on the falling away of COVID measures for businesses, and the introduction of new and updated legislation for rescue processes across Europe. One year we are seeing steep rises in inflation, and in the UK we have just recorded negative growth in Q3 which means the UK is already in recession, and…
Apr 2, 2024 1.09pm Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? Citigroups Australian business has banked a heavy loss for 2023 as its US headquarters works through a comprehensive restructuring that will slash thousands of jobs around the world. The…
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 Rank-and-File Committee at Sydneys Macquarie University is hosting an online forum on April 10 to discuss the serious implications of the Labor governments Universities Accord final report, released last month. The forum is open to all educators and working people, because the Accord will have repercussions for every level of education. Education Minister Jason…
Please see full publication below for more information. BUSINESS RESTRUCTURING REVIEWVOL. 23 NO. 2 MARCHAPRIL 20241IN THIS ISSUE1 Singapore International Commercial Court Issues First Decision on Recognition of Cross-Border Bankruptcy Cases under Model Law2 Lawyer Spotlight: Dan B. Prieto8 Texas Bankruptcy Court: Debtors Non-Economic Rights Under LLC Agreement Are Estate Property Protected by Automatic Stay11…
Avion Express, one of the largest ACMI (Aircraft, Crew, Maintenance, and Insurance) operators globally, has successfully completed corporate restructuring process initiated in 2021 due to the impact of the Covid-19 pandemic. Avion Express UAB fulfilled its obligations to creditors almost two years ahead of schedule and became the first airline in Lithuania to successfully complete…
Listen to this podcastEnjoy more audio and podcasts on iOS or Android. Your browser does not support the <audio> element. Restructuring advisers are often the first on the scene when a business starts to teeter. To some, that makes these bankers, consultants and lawyers capitalisms emergency surgeons, rescuing companies from death. To others, the steep…