Manchester-based fintech Open Money has issued an official statement following reports over the bank holiday weekend that staff wages would be going unpaid as the company enters a CVA and undergoes large scale restructuring under its new owners. The statement confirms that payment of salaries for a number of members of staff across the business…
Ample Liquidity to Fund Day-to-Day Operations During Court-Supervised Process ORLANDO, FL & AUSTIN, TX, May 01, 2023 (GLOBE NEWSWIRE) — DeCurtis Corporation (DeCurtis or the Company), the leading provider of location and proximity enabled solutions in complex environments, has entered into an agreement with Invictus Global Management, its largest prepetition secured lender, on a sale…
Restructuring Support Agreement Supported by Holders of More Than 80% of the Company’s Senior Secured Notes and 100% of the Company’s Second Lien Term Loans Transaction Will Significantly Strengthen the Company’s Financial Position by Eliminating Approximately $511 Million of Secured Debt Through Conversion into Equity Operations to Continue Without Interruption Through and Following the Process…
Vice Media Group, the company behind popular media websites such as Vice and Motherboard, is preparing to file for bankruptcy, the New York Times reported on Monday, citing people with knowledge of its operations. The report comes days after Vice shuttered its Vice News Tonight program, and amid waves of media layoffs and closures, including…
Linklaters has announced the appointment of Rebecca Jarvis, partner in the firms London office, as its new global co-head of banking. Rebecca succeeds Philip Spittal as he retires from the firm and will join existing global co-head Ben Crosse, who is based in Madrid. Rebecca becomes the first female lead of the global Banking practice,…
Piper Sandler Companies (NYSE: PIPR), a leading investment bank, is pleased to announce the addition of Sam Karotkin as a managing director to its restructuring investment banking team.We are very excited to welcome Sam to the team. His strong leadership skills and extensive background in restructurings, both in and out of court, will be a…
JHVEPhoto Company Profile Newell Brands Inc. (NASDAQ:NWL) is a company founded in 1903 with a diverse portfolio of products that includes many household brands and operates in various segments such as writing, home solutions, commercial products, baby and parenting, outdoor and recreation, and process solutions. Business segments (Company’s filing) Key Takeaways from Q1 2023 Earnings:…
Global consultancy firm Ankura has brought one of its powerhouse lines of business turnaround and restructuring to the Middle East. Based out of Dubai and the recently launched Riyadh office, Ankura advises clients on a wide range of management consultancy, financial advisory and technology topics. In the region, most of its work focuses on mergers…
Weil advised an ad-hoc group of noteholders in relation to the consensual recapitalization and financial restructuring of Frigoglass S.A.I.C. and the group of companies formerly controlled by it (the Frigoglass Group). The Frigoglass Group is a Greece-based manufacturer of commercial refrigerators as well as a leading manufacturer of frozen packaging, with operations in Europe, the…
Cascades, a Kingsey Falls, Quebec-based paper and packaging producer, is restructuring its Tissue Papers platform, closing two underperforming plants as well as shutting down a virgin paper tissue machine in a move that will impact 300 employees in the U.S. Beginning in July, the company will progressively close what it says are underperforming plants in…