Nufarm has tapped three investment banks to help the company raise fresh debt worth $US450 million. It is understood UBS, Deutsche Bank and JPMorgan were in the market overnight, drumming up interest among US investors for the raising. Nufarm was seeking to raise $US450 million via the sale of senior unsecured notes. Proceeds were expected…
DetailsThe allocation is “fair to all shareholders,” said founder Richard Elman. Noble Group will provide all shareholders with 15% in aggregate of the equity in New Noble provided the resolutions to approve the restructuring are passed at the special general meeting. “This simplified structure replaces the previous proposal to provide shareholders with 10% equity in New…
DetailsAUSTIN, Texas, April 16, 2018 (GLOBE NEWSWIRE) — Ideal Power Inc., (NASDAQ:IPWR), an innovative power conversion technology company, has announced new executive management team changes as part of a strategic restructuring to support operational progress with the companys two primary technologies. Effective today, Ideal Power has realigned into two separate operating divisions: Power Conversion Systems…
DetailsCreditors of The Bon-Ton Stores are looking to buy and liquidate the regional department store chain, which employs 20,000 workers. A rival investor group that includes two mall owners also hopes to buy The Bon-Ton Stores in a bankruptcy court-supervised auction Monday and keep the business alive, but faced a setback in court last week.…
DetailsThe Insolvency and Bankruptcy Code (IBC) introduced by the Narendra Modi government in December 2016 to fix the banking sectors bad loans problem has over the last 16 months been a mixed bag, with borrowers and disgruntled bidders increasingly exploiting vagueness in some key provisions of the code to stall bankruptcy proceedings.…
DetailsA rival investor group that includes two mall owners also hopes to buy The Bon-Ton Stores in a bankruptcy court-supervised auction today and keep the business alive, but faced a setback in court last week. U.S. Bankruptcy Judge Mary Walrath in Delaware decided the investment group alternative asset manager DW Partners, commercial real estate investment…
DetailsMobility solutions developer and consulting firm, Airdata, has gone into administration after more than a decade in operation. The Sydney-based company, which makes a range of software solutions for mobility and Internet of Things (IoT) applications, claims Motorola, Microsoft, Apple and Datalogic among its vendor partners. The company entered into voluntary administration on 9 April,…
DetailsJamie Olivers dream of buying back the farm in Australia is over. The Jamie Oliver Restaurant Group (Australia) Pty Ltd collapsed on Monday, with the company being placed in the hands of voluntary administrators less than 12 months after the British celebrity chef visited Australia to relaunch the six local restaurants bearing his name. Oliver…
DetailsCanadians Increasingly Feeling the Impact of Higher Interest Rates The MNP Consumer Debt Index is now at an all-time low, dropping four points since December. MNP Ltd. CALGARY, Alberta, April 16, 2018 (GLOBE NEWSWIRE) — The latest MNP Consumer Debt Index research foreshadows trouble ahead for indebted Canadians underlining widespread concern over rising interest rates.…
DetailsBesieged department store Myer has brought in high-profile restructuring and insolvency administrator Mark Korda to help it try to squeeze out from under suffocating leases. It is understood Mr Korda, a partner at KordaMentha who has worked on collapses spanning from Ansett to last year’s Network Ten administration, was brought in about three weeks ago to…
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