The Morrison Government continues to implement its economic recovery plan with the commencement of the most important changes to Australias insolvency framework in 30 years. From today, eligible businesses experiencing financial distress can access a new, simplified debt restructuring process that allows them to restructure their existing debts while remaining in control of their business.…
Yiren Digital Ltd Enters Into Definitive Agreements In Relation To Business Restructuring With Creditease Holdings Published: 12/31/2020 19:07 GMT Yirendai Ltd (YRD) – Yiren Digital Ltd – Entered Into Definitive Agreements in Relation to a Business Restructuring With Creditease Holdings.Yiren Digital Ltd – Agreements to Streamline Cos Service Lines & Reposition Co As Comprehensive Personal…
SO PAULO, Dec. 31, 2020 /PRNewswire/ — Ita Unibanco Holding S.A. (“Ita Unibanco” or “Company”), in accordance with Article 157, paragraph 4, of Law No. 6,404/1976 (“Brazilian Corporate Law”), and CVM Instruction No. 358/2020, both as amended, and Article 3 combined with Attachment 3 to CVM Instruction No. 565/2015, announces to its stockholders and the…
The sudden rush to provide remote access to employees by restructuring network and security systems during the lockdown made India vulnerable to ransomware attacks in the third quarter of current year, according to cyber security firm Check Point Software Technologies. Due to the immediate push, several IT companies were unable to scale up their cloud…
Friday, December 18, 2020 Restructurings are ideally carried out early, quietly and quickly. Efficient tools for out-of-court restructurings play a decisive role in value preserving restructurings. The Coronavirus (COVID-19) pandemic has had a huge impact on the global economy and most businesses. Thousands of companies currently have urgent restructuring needs and every jurisdiction has responded…
Last week, as part of the Australian Governments ongoing response to the pandemic-induced economic crisis, the Senate passed reforms to insolvency arrangements for small businesses with liabilities less than $1 million. From 1 January 2021, these businesses will be able to avail themselves of: A new debtor-in-possession, debt-restructuring process to improve the prospects of business…
Cans produced for Coca-Cola Co.’s Coke drink move along the production line. Chris Ratcliffe | Bloomberg | Getty Images Coca-Cola will cut about 2,200 jobs in its global workforce as part of a broader restructuring plan that was accelerated by the coronavirus pandemic. In the United States, Coke will use layoffs and buyouts to eliminate…
The Board of Sunedison Infrastructure at its meeting held on 15 December 2020 have accorded their approval for capital contribution to be made by the Company amounting to Rs 18.66 crore in Sherisha Solar LLP, under the provisions of the Limited Liability Partnership Act, 2008 (LLP Act) by way of execution of a limited liability…
By PRIYA VASU AIRASIA X Bhd (AAX) has revised its corporate exercise to reduce its issued share capital by 99.9% from 90% proposed earlier. In a statement yesterday, the cash-strapped carrier stated that this comprised a reduction of the issued share capital of RM1.53 billion to RM1.53 million. The credit arising from the proposed share…
A little less than a month after Pfizer’s Upjohn unit and Mylan successfully merged to create generics business Viatris, the company is already looking at ways to slash costs. Newly mintedViatris Friday laid out detailed plans for a global manufacturinginitiative that could put thousands of jobs on the line. By 2024 at the latest, the…