Remington Outdoor Company Proposes Comprehensive Prepackaged Financial Restructuring Plan – Business Wire (press release)

Restructuring

MADISON, N.C.–(BUSINESS WIRE)–Remington Outdoor Company (Remington or the Company), one of the worlds leading designers and manufacturers of firearms, ammunition, and related products, today announced achievement of a significant milestone in its comprehensive financial restructuring process. The Company today announced that it has filed a prepackaged plan of reorganization with the United States Bankruptcy Court…

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Myer rules out using voluntary administration to exit leases – The Australian Financial Review

Bankruptcy

Myer has ruled out placing the beleaguered retailer into voluntary administration to hasten the exit or renegotiation of $2.7 billion in leases. While Myer has only $19.9 million in net debt and gearing about 3 per cent, the retailer is moving closer to breaching fixed charges cover covenants in banking agreements after a 24 per cent fall…

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Project Group residential, commercial builder goes into administration – The Australian Financial Review

Liquidation

Project Group Constructions, a Melbourne-based builder working on residential and commercial projects with a contract value of about $190 million, has gone into voluntary administration. Burnley-based Project Group, a company with about 100 staff, went into administration on Friday with a preliminary estimate, excluding employee entitlements, of $22 million in debts $7 million of that…

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The Insolvency And Bankruptcy Code: Some Fundamentals And Issues – Live Law

Liquidation

The Insolvency and Bankruptcy Code, 2016 (Code) was conceived as a path-breaking legislation to consolidate and amend the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals, in a time bound manner. The avowed objective was also to secure maximization of the value of assets of such persons, to promote…

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Noble Group says board to seek insolvency protection if restructuring fails – euronews

Bankruptcy

HONG KONG (Reuters) Noble Group Ltd <NOBG.SI> warned on Monday that it would begin insolvency proceedings if the beleaguered commodity traders $3.4 billion (£2.4 billion) debt restructuring proposal was not approved by shareholders. Nobles debt restructuring process is seen as critical for the firms survival. But the deal has been opposed by some bondholders and…

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