Dubais Drydocks World has returned to the courts to push through a $2.1bn debt restructuring, clearing the path for the troubled ship-repair business sale to a sister company, DP World, the emirates port operator. The maritime engineering business, a unit of the government-owned Dubai World conglomerate, in 2012 had to use bespoke insolvency legislation to…
SEATTLE–(BUSINESS WIRE)–Due to reduced expectations for single family loan origination volume in the Mortgage Banking segment, HomeStreet, Inc. (Nasdaq:HMST), parent company of HomeStreet Bank, today announced a restructuring of that segment, including: A reduction in force of 60 full time equivalent employees HomeStreet Banks second reduction in force this year in its Mortgage Banking segment,…
CLEVELAND, Oct. 2, 2017 /PRNewswire/ — McDonald Hopkins LLC has announced the election of four attorneys to the firm’s membership. McDonald Hopkins, with offices in Cleveland, Columbus, Detroit, Chicago, West Palm Beach and Miami, named Alexa Guevara (West Palm Beach), Joshua Gadharf (Detroit), Jason Harley (Columbus) and Ilirjan Pipa (Cleveland) members, effective October 1, 2017. “This…
Dallas, Texas, Oct. 02, 2017 (GLOBE NEWSWIRE) — Thompson & Knight LLP is pleased to announce Patrick J. Trostle has joined the Firm as a Partner in its New York office in the Bankruptcy and Restructuring Practice Group. With 25 years of experience, Patrick will add immediate depth to our nationally recognized Bankruptcy and Restructuring…
NEW YORK, Oct. 2, 2017 /PRNewswire/ — Thompson & Knight LLP is pleased to announce Patrick J. Trostle has joined the Firm as a Partner in its New York office in the Bankruptcy and Restructuring Practice Group. “With 25 years of experience, Patrick will add immediate depth to our nationally recognized Bankruptcy and Restructuring Practice. He…
LEWISVILLE, Texas, Oct. 2, 2017 /PRNewswire/ — Adeptus Health Inc.,(the “Company”), the largest operator of freestanding emergency rooms in the U.S., today announced that the Company has successfully completed its financial restructuring and emerged from Chapter 11. In accordance with the Plan of Reorganization, reorganized Adeptus Health, formerly owned by the Company is now owned by…
6.57pm AEDT18:57 Spanish stock market falls after Catalonia chaos Over in Madrid, shares have fallen following yesterdays referendum in Catalonia, and the violent clashes between Spanish police and those trying to take part. Catalonian president Carles Puigdemont has indicated that the region could declare independence after Sundays poll, even though the vote had already been…
Dalian Wanda a fortnight ago began restructuring its business, which includes two $1 billion Australian apartment projects. Ratings agency Moody’s Investor Services has taken the knife to the massive China developer Dalian Wanda’s credit rating, cutting it to Ba1 amid concerns of the company’s weakened liquidity position. The agency said this was “due to inadequate…
The Company expects to continue operations as usual and has obtained a commitment for $85 million in new debtor-in-possession (“DIP”) financing from a group of its first lien lenders. Subject to Bankruptcy Court approval, this DIP financing, combined with cash generated by the Company, is expected to provide more than adequate liquidity to support ongoing…
APPLETON, Wis., Oct. 1, 2017 /PRNewswire/ — Appvion, Inc. (the “Company”) today announced that it and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware to facilitate a balance sheet restructuring and better position the business for…