Low-cost carrier AirAsia will lay off 111 flight attendants, 172 pilots, and 50 engineers as part of its restructuring plans, CEO Riad Asmat announced yesterday. Affected employees will be notified within 24 hours via email, Riad reportedly said. He did not elaborate on the details of the compensation the airline would provide to retrenched staff.…
Thursday, June 04, 2020 6:20 p.m. EDT by Thomson Reuters By Sandrine Bradley LONDON (LPC) – The UK government could face hefty losses on loans made to struggling businesses during the Covid-19 pandemic due to its new insolvency law that can force lenders to accept unfavourable terms during a debt restructuring process. The new Restructuring…
Introduction Local business Regulated business International business Comment Introduction Jersey imposed travel restrictions in response to the COVID-19 crisis in March 2020 and has been operating a full lockdown for all residents, apart from essential workers, since 30 March 2020. Most employees in the Jersey financial services industry are now working from home and there…
In the past few years, the firm has structured and invested over $4bn of debt deals Zainab Mansoor Thursday 04 June 2020 Asset management and investment banking platform Shuaa Capital is strengthening its corporate restructuring service to re-energise the business sector, it announced on June 4. Shuaas corporate restructuring solutions facilitate businesses to secure new…
Aston Martin is to cut 500 jobs as the carmaker overhauls its business in response to falling sales of its signature sports cars. The pandemic has deepened the crisis at the luxury carmaker which was already trying to reduce a backlog of cars before the UK government lockdown closed its dealerships and showrooms. Aston Martin…
Shuaa Capital, the asset management and investment banking group, is strengthening its corporate restructuring arm to help firms struggling to access finance. The company said its corporate restructuring business would address “liquidity issues and potential insolvency concerns faced by many businesses that have been impacted by the Covid-19 crisis” by providing access to new credit…
Seadrill Ltd. has hired legal and financial advisers for talks with senior creditors on restructuring the companys $7.5 billion debt load that could lead the offshore contract driller to make its second trip to bankruptcy court in less than three years. In an earnings call Tuesday, Stuart Jackson, the companys chief financial officer, said the…
LITTTLETON, Colo.–(BUSINESS WIRE)–Jun 3, 2020– APC Automotive Technologies, LLC, together with certain of its subsidiaries, (APC or the Company), today announced that it has entered into a comprehensive Restructuring Support Agreement (the RSA) with key stakeholders, including its asset-based lenders, 74% of its term loan lenders that are eligible to vote, and significant financial sponsors…
Published: 2 Jun 2020, 15:28 Leclanch is undergoing a strategic reorganisation of the company and said it has secured funding for its manufacturing and R&D activities while also announcing a pivot towards becoming a green tech software and systems integration company. After first revealing that the reorganisation would be forthcoming in September of last year,…
Italian giant Eni is reportedly considering a major reorganisation of its business in response to the current market that would see it breaking off into two separate units. According to a report by Italian media outlet IlSole24, Enis restructuring plans could see one segment of the business dedicated to oil-related midstream and upstream activities, with…