Daily News View All News 16 May 2019 Wise Group (WISE:SS), the Swedish staffing firm reported revenue yesterday for the first quarter ending 31 March 2019 of SEK 244.1 million (22.7 million), an increase of 7.3% compared with the same quarter last year. (SEK millions) Q1 2019 Q1 2018 Change Q1 2019 ( millions) Revenue…
COLUMBUS, Ohio–(BUSINESS WIRE)–May 15, 2019– Hexion Inc. (Hexion or the Company) today announced that the U.S. Bankruptcy Court for the District of Delaware (the Bankruptcy Court) has approved the Companys assumption of the Restructuring Support Agreement (RSA). Craig A. Rogerson, President and CEO of Hexion, stated: Todays approval of the RSA signifies another significant step…
Volkswagen workers backed a restructuring of the worlds largest carmaker on Tuesday after Chief Executive Herbert Diess pledged to spend 1 billion ($1.1 billion) on a new battery cell production plant near its headquarters in Lower Saxony. Diess needs the support of Volkswagens powerful unions as he attempts to slim down and simplify the German…
The High Court of England and Wales has recognized Singapores new moratorium law for companies unable to pay their creditors. The ruling is positive for debt workouts across different jurisdictions and a boost to the city-states ambition to become Asias debt restructuring hub. Rajah & Tann Singapore and the London office of US law firm…
By World Oil Staff on 5/13/2019 Photo: Weatherford President and CEO Mark McCollum. HOUSTON One of the worlds largest oilfield services companies filed for Chapter 11 Bankruptcy protection on Friday, and the move may finally give Weatherford International plc enough room/time to turn around its struggling operations. The firm announced…
Laxman Pai May 13, 2019 Image: Weatherford International Irish-domiciled multinational oil and natural gas service company Weatherford International has entered into an agreement with its top creditors that will allow the company to file for a “prepackaged” Chapter 11 bankruptcy – after more than four years without making a profit. Weatherford expects…
() has entered into an agreement to sell part of its Infusion business to a subsidiary of BTC Health Ltd () for $6.3 million. This will complete the first phase of the Infusion business divestiture. Completion of the sale is subject to certain conditions being satisfied with the sale expected to complete in…
Australian coal producerTerraCom (ASX:TER)has rolled out a A$63 million (about $44m) restructuring plan, consisting of a A$35-million capital raise and a $20-million convertible bond to support its growth ambitions. The company, which has two operating mines in Queensland and Mongolia, is launching a fully underwritten entitlement offer priced at 58c per share to raise an…
Debenhams redesigned beauty hall in its new-look Watford store Debenhams is set to embark on a store closure and business restructuring programme after it won backing from its landlords for a CVA programme that will see it close 22 stores next year. The vote to approve the CVA arrangements was passed yesterday by more than…
Debenhams redesigned beauty hall in its new-look Watford store Debenhams is set to embark on a store closure and business restructuring programme after it won backing from its landlords for a CVA programme that will see it close 22 stores next year. The vote to approve the CVA arrangements was passed yesterday by more than…