A committee set up to look into strengthening Singapore as an international centre for debt restructuring has made a slew of recommendations and is asking the public for their views on these proposals. These recommendations focus on three main areas: enhancing Singapore’s legal framework for debt restructuring, creating a restructuring-friendly ecosystem and addressing a perception…
CONTROVERSIAL underground coal gasification company Linc Energy has gone into voluntary administration. In a statement to the ASX, the companys board said it was in the best interests of the company to make the move. It comes a month after Linc was charged with causing serious harm to the environment at its UCG pilot site…
By Sridhar Ramachandran The buzzword now is the bankruptcy law. It is seen as a panacea for the problem of nonperforming loans, but it is a lot more than that provided the execution matches the intent. That workers claim is above the dues to state and any dubious transaction two years prior to bankruptcy with…
An award-winning product development company that has been operating for 10 years has collapsed into voluntary administration. E3 Style, which is still trading, called in external managers on April 15, with Domenic Calabretta from Mackay Goodwin appointed voluntary administrator. A creditors meeting is scheduled for April 28 in Brisbane. E3 Style has designed and made private-label…
WOODBRIDGE, N.J., April 19, 2016 — EMRISE CORPORATION (formerly traded on OTCQB under the symbol EMRI) (EMRISE or the Company), announced today that it has instructed its paying agent, VStock Transfer, LLC (Paying Agent), to begin the process of sending the previously announced second liquidation distribution of $0.36 per share (the Distribution) to its stockholders…
WOODBRIDGE, N.J., April 19, 2016 (GLOBE NEWSWIRE) — EMRISE CORPORATION (formerly traded on OTCQB under the symbol EMRI) (EMRISE or the Company), announced today that it has instructed its paying agent, VStock Transfer, LLC (Paying Agent), to begin the process of sending the previously announced second liquidation distribution of $0.36 per share (the Distribution) to…
MUMBAI: Expecting the proposed enactment of Bankruptcy Act to be a “defining event”, RBI Deputy Governor HR Khan said the law will help develop corporate bond market in India. “Enactment of the Bankruptcy Act will be a defining event as regards the development of the corporate debt market,” he said at the 17th Annual Conference…
OKLAHOMA CITY–(BUSINESS WIRE)–Seventy Seven Energy Inc. (the Company), today announced that it has entered into a Restructuring Support Agreement (the Agreement) with certain lenders (the Incremental Term Loan Lenders) representing 92.0% of the outstanding principal amount under the Companys Incremental Term Supplement (Tranche A) loan and certain noteholders (the Consenting 2019 Noteholders) collectively owning or…
WOODBRIDGE, N.J., April 19, 2016 (GLOBE NEWSWIRE) — EMRISE CORPORATION (formerly traded on OTCQB under the symbol EMRI) (EMRISE or the Company), announced today that it has instructed its paying agent, VStock Transfer, LLC (Paying Agent), to begin the process of sending the previously announced second liquidation distribution of $0.36 per share (the…
Related Story: Cheap steel glut discussed on international stage ahead of Arrium creditors’ meeting Less than a week into Australia’s most complex corporate restructure, the administrator of failed iron and steel firm Arrium has said the company’s future hangs on the fate of its Whyalla steelworks. The insolvency firm KordaMentha said,…