Sun Art Retail Group, controlled by Alibaba Group Holding, has appointed a new chief executive as the e-commerce giant continues to consolidate its retail assets amid a restructuring and rising market competition. Hong Kong-listed Sun Art, a hypermarket business, said in a stock exchange filing on Tuesday that Lin Xiaohai, fomer chief executive officer and…
What is the Small Business Restructuring process? Australias Small Business Restructuring (SBR) process is a formal insolvency process introduced by the Federal Government in 2021 to give small businesses the opportunity to restructure their debts while directors remain in control of the business, under the supervision of a restructuring practitioner. The SBR process involves a…
Mar 28, 2024 10.45am Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? Embattled pathology group Healius has stepped up internal restructuring and cost-cutting in a push to lift its financial performance as investment bankers UBS oversee a strategic review. Two top…
Zev Shechtman has joined Saul Ewing as a partner in Los Angeles, the firm said Wednesday. Shechtman represents clients in complex business bankruptcy, restructuring, and insolvency matters in and out of court, according to Saul Ewing. Some areas of expertise of his include representing debtors in regular Chapter 11 and subchapter V bankruptcy reorganization cases,…
Companies must approach HMRC with suitable care when proposing a restructuring plan, mindful of lessons learned from recent case law. Ever since unpaid taxes due to HMRC were crammed down pursuant to a restructuring plan that it voted against but did not actively oppose in Houst,[2022] EWHC 1941 (Ch). HMRC has challenged restructuring plans and…
(Bloomberg) — Atos SE gave itself until the week of April 8 to present creditors with a refinancing framework as it aims to head off a looming repayment crisis. Most Read from Bloomberg The ailing French IT company has expanded its restructuring talks to include bondholders as it seeks a comprehensive agreement on its debt…
Alibaba scraps Hong Kong IPO plan for logistics unit Cainiao as it tweaks restructuring Alibaba Group Holding has decided to withdraw the initial public offering (IPO) for its logistics operation Cainiao in Hong Kong, and has offered to buy all remaining shares in the unit, in another major change to its original restructuring plan. The…
:Atos, the crisis-hit French IT consulting firm whose shares have plummeted over the last two years, said it was aiming to restructure its debt by July, paving the way for a potential capital increase to shore up its balance sheet. The technology giant, which manages data and cybersecurity for France’s nuclear industry and the upcoming…
(Bloomberg) — Ailing French IT company Atos SE expanded talks with creditors to include bondholders, with a goal of reaching a debt restructuring agreement by July to head off a looming repayment crisis. Most Read from Bloomberg The process will last four months and can be extended by one month according to French law, Atos…
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…