A key offshore bondholder group of China Evergrande plans to join a petition to liquidate the developer at a hearing in a Hong Kong court on Monday, Reuters reported this week. The bondholder group owns more than $2 billion in offshore notes guaranteed by Evergrande and its support to a winding-up petition against the world’s…
The Melbourne Rebels have denied that they have entered voluntary administration, but the move is potentially on the table for the cash-strapped Super Rugby Pacific outfit. According to an AAP report, the Rebels chief executive Baden Stephenson spoke to the teams players ahead of training on Friday after it was reported earlier in the week…
Jan 26, 2024, 09:47 AM Open Extended Reactions Melbourne Rebels are on the brink of collapse just weeks out from the Super Rugby Pacific season, with the franchise having entered voluntary administration amid mounting debts. Rumours of the Rebels’ fraught financial position have circled since late last year, despite chief executive Baden Stephenson doing his…
Separately, Teleperformance Business Services Ltd, the Indian unit of the French multinational, too filed an insolvency petition against Byjus on Thursday, a person with knowledge of the development said. It invoked insolvency as an operational creditor. Both petitions were filed before the Bengaluru bench of before the Bengaluru bench of the National Company Law Tribunal…
The US-based lenders of Byjus have approached the National Company Law Tribunal (NCLT) at Bengaluru to initiate corporate insolvency proceedings against the beleaguered edtech company. The ad hoc group of term loan lenders (the Ad Hoc Group) of Byjus $1.2 billion term loans (Term Loans), said that GLAS Trust Company LLC (as administrative agent and…
The TDR Three Key Takeaways: 1. Acquisition Indicator: The Tangible Liquidation Value % Ratio serves as a straightforward tool to identify potentially undervalued companies. When the ratio exceeds 100%, it indicates that a companys tangible assets are worth more than its market price, marking it as a potential acquisition target due to the opportunity to…
Normal text sizeLarger text sizeVery large text size The Melbourne Rebels have entered into voluntary administration as the debt-ridden Super Rugby club continues its desperate bid to survive past this year. Executives from the Rebels called in insolvency firm Wexted Advisors on Thursday as administrators as the collapse was confirmed by the state government and…
Spain Legal updates: case law analysis and intelligence The case involved a dispute between former partners in a company in liquidation, who started new businesses providing the same services following the dissolution of the company. To read more Register for limited access Register to receive our newsletter and gain limited access to subscriber content. Register…
The Melbourne Rebels will reportedly go into voluntary administration as they seek AU$500,000 assistance to pay players and staff in addition to their existing AU$9 million debt. This throws the futures of key Wallabies Andrew Kellaway and Taniela Tupou amongst others in doubt. The club has appointed Sydney-based firm Wexted as an external financial advisor…
A Set small text size A Set the default text size A Set large text size The Rebels will take to the field in 2024 but their long-term future is on a knifes edge, with voluntary administration looming for the Melbourne-based Super Rugby franchise. It can be confirmed Rebels powerbrokers met with Wexted Advisors, who…