By RNZ New Zealand Steel is to restructure its business with the likely loss of up to 200 jobs, but maintain steelmaking at its Glenbrook mill. The Australian owner of the mill, Bluescope, signalled in May it was reviewing the future of the loss-making business because it was not paying its way. Chief executive Gretta…
Photo courtesy of FSGBy The Maritime Executive 09-02-2020 04:29:23 Germanys smaller shipbuilder Flensburger Schiffbau-Gesellschaft (FSG), which in recent years has specialized in ro-ros and ferries, took a key step forward with its restructuring. The purchase agreement for the assets of the shipyard along with 350 of its employees was completed by investment companies belonging to…
A thorough debt restructuring process awaits several Dutch companies As the economic downturn ensues, more companies are struggling to meet their financial obligations whilst lenders are seeking alternatives to secure their outstanding financial claims. In this article, the authors will reiterate some of the recent short-term Dutch tax measures to improve tax liquidity, which may…
Dubai: In line with the restructuring process, Clean & Hygiene Centre will re-align and adapt itself as a business vertical under the flagship of C&H Global FZC. Shanavas Madathil Shanavas Madathil, Head Of Finance, C&H Center UAE, is now appointed as Chief Finance Officer (CFO) of C&H Global FZC. Shanavas, a finance expert, has been…
In the first India Super 50 Lawyers list, ALB puts the spotlight on standout private practitioners in the country when it comes to client service. These lawyers were selected based on client recommendations sent directly to ALB. The list is in alphabetical order, and certain key lawyers have been profiled below. Vineet Aneja, managing partner,…
In This Issue: Eighth Circuit Rules that Bankruptcy Code’s Cap on Lease Damage Claims Applies to Fraudulent Transfer Judgment In Lariat Cos. v. Wigley (In re Wigley), 951 F.3d 967 (8th Cir. 2020), the U.S. Court of Appeals for the Eighth Circuit reversed a bankruptcy appellate panel decision and held that an individual debtor’s joint…
Over 1,700 sub-investment grade mid-size companies (those with turnover of Rs 300-1,500 crore) will need debt restructuring to withstand the Covid-19 onslaught, said CRISIL Ratings on Monday. A total of 1,754 sub-investment grade firms (BB+ or lower) and 589 investment grade entities (BBB- and above) had opted for moratorium on repayment of dues during March-August…
HAMILTON, Bermuda, Aug. 31, 2020 /PRNewswire/ — Certain of the new secured noteholders (the “NSNs”) approached Seadrill Limited (the “Company”) to discuss the possibility of extinguishing the outstanding NSNs in exchange for certain secured collateral. The attached slide details the Company’s response to the proposal from the NSNs. FORWARD LOOKING STATEMENTS This release includes forward…
A report issued by one of Australias leading credit agencies is warning COVID-19 insolvency relief measures will cause a domino effect of business shutdowns. CreditorWatch says the safe harbour moratorium that is relaxing insolvency rules will dent business confidence and plunge the country into a deeper recession, as government assistance mechanisms are propping up businesses…
Ground-handling firm Swissport is set to be taken over by a group of creditors under a 1.9 billion ($2.3 billion) debt-for-equity swap as part of an extensive financial restructuring. Once the process is completed, seven institutions a group collectively known as AHG will control more than 75% of Swissports equity, unless a third party is…