Akin has been shortlisted by Legal Business in the category Restructuring Team of the Year as part of the publications annual Legal Business Awards. Akins shortlisted submission highlighted the firms lead role in the successful global chapter 11 restructuring of $6 billion in financial indebtedness of Nordic Aviation, the largest lessor of regional aircraft in…
DetailsA surprise month-on-month fall in the number of corporate insolvencies in England and Wales does not reflect current tough trading conditions, with the number of struggling businesses in the region likely to rise significantly over the next year. This is according to the Midlands branch of the UKs insolvency and restructuring trade body R3 and…
DetailsA raft of barely used kit belonging to a bankrupt Dutch printer is currently up for auction. The entire inventory of Drukkerij Schuttersmagazijn is being auctioned via Troostwijk Auctions online platform. The business, also known as SMG Group, was declared bankrupt in June. The company was founded in 1952, first under the name Schuttersmagazijn, later…
DetailsKatie Price wants to “relaunch her career” by going to prison. The 45-year-old former glamour model – who was once worth an estimated 45 million – was declared bankrupt in 2019 and her mother Amy has reportedly wanted her to “eat humble pie” amid her multiple court appearances, but the Page 3 legend is said…
DetailsDomestic Debt Restructuring (DDR) is necessary and viable. The term debt restructuring includes three possibilities extension of maturities (re-profiling), coupon resets or reduction of the principal. There is no fourth option. Principal haircuts are generally avoided, and they are not necessary. Re-profiling and coupon resets are sufficient to achieve policy goals. Why restructure domestic debt?…
DetailsThe Adjudicating Authority, Mumbai Bench, Court III, admitted an application No. 4065/MB/2018, filed under Section 7 of the Code against the Corporate Debtor on 25.04.2019. The Interim Resolution Professional caused a public announcement calling claims from the creditors. He received the claims, verified the same and constituted the Committee of Creditors. Religare Finvest had 69.02%…
DetailsTradies are raging over the collapse of the lead contractor on a multimillion dollar government project which has left them tens of thousands of dollars out of pocket. Rubbing salt in the wound is the fact that the liquidated company pocketed a hefty payment from the government for completing the project but this was never…
DetailsGRAND RAPIDS, Mich. A recent study from the Better Business Bureau (BBB) found companies that promise to reduce a persons debt or improve their credit often fail those consumers. These companies are supposed to be following federal regulations, and a lot of them are slipping under the radar, said Katie Grevious, marketing and communications manager…
DetailsU.S. trucking giant Yellow Corp. has announced that it has declared bankruptcy following a tense standoff with the Teamsters Union and after a massive pandemic-era federal loan failed to stave off the company’s mounting debt. Announced Sunday, the move was long foreshadowed after Yellow Corp. halted its operations late last month and news of layoffs…
DetailsIris Gonzales – The Philippine Star August 21, 2023 | 12:00am MANILA, Philippines Snack food giant Monde Nissin Corp. has completed the restructuring of its meat alternative business, cautiously optimistic of the growth of this business segment in the coming quarters. The previously announced restructuring of our meat alternative business has been substantially completed and…
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