Toys R Us is expected to tumble into administration next week after last ditch talks to find a buyer faltered. The move will put 3,200 jobs at risk and follows the recent decision by its bankrupt American parent to try to sell the loss-making UK business as well its other European stores. Members of the…
DetailsThe Seychelles is building two gigantic marine conservation areas to help save turtles, dolphins, and other sea animals. It has done so in exchange for a large chunk of its national debt being paid off. The deal is the first debt swap agreement of its kind. The Seychelles is stepping up its efforts to protect…
DetailsThe cost of a significant internal restructuring project contributed to Gildan Activewear Inc. reporting Thursday a 26.1 percent decline in fourth-quarter net income to $54.9 million. The Montreal apparel manufacturer took $11 million in restructuring and acquisition charges in the quarter. Chief among the restricting initiatives was combining its printwear and branded apparel businesses into…
DetailsNEW DELHI: The Insolvency and Bankruptcy Board of India (IBBI) has sought comments on contents of Request for Proposal (RFP) document for applicants to bid for business insolvency resolution process. RFP, here means an invitation for resolution plans from prospective resolution applicants who wish to bid for business of a corporate debtor going through Corporate…
DetailsdRMMs 2017 Stirling Prize Winner Hastings Pier Seeks New Owner After Charity Folds Courtesy of dRMM Just four months after winning the 2017 Stirling Prize, the UKs top honor for architecture, dRMMs Hastings Pier is now up for sale, as the charity that owned and operated the structure was declared insolvent for failing to reach self-funding…
DetailsBy Jarrett Renshaw NEW YORK (Reuters) – U.S. President Donald Trump has called a meeting early next week with key senators and Cabinet officials to discuss potential changes to biofuels policy, which is coming under increasing pressure after a Pennsylvania refiner blamed the regulation for its bankruptcy, according to four sources familiar with the matter.The…
DetailsThe Seychelles is building two gigantic marine conservation areas to help save turtles, dolphins, and other sea animals. It has done so in exchange for a large chunk of its national debt being paid off. The deal is the first debt swap agreement of its kind. The Seychelles is stepping up its efforts to protect…
DetailsOverview In May 2016 the UK government published its Review of the Corporate Insolvency Framework – A Consultation on options for reform. Brexit may have taken over the economic and political landscape, but in the meantime other nations are reforming their insolvency laws. This article asks the question if the UK does not, does it…
Details* CBL insurance is largest division of CBL Corp * Central banks in NZ, Ireland probing CBLs French unit * CBL shares in trading halt since Feb. 5 (Adds CBL statement) SYDNEY, Feb 23 (Reuters) – New Zealands High Court placed insurance firm CBL Insurance Ltd, the main subsidiary of CBL Corporation Ltd, in interim…
DetailsVeritas Technologies has hired a corporate restructuring specialist in the face of business difficulties. El Reg was told by Veritas insiders that CEO Greg Hughes has engaged Alix Partners to look at the company structure. He discussed cost pressures, initiatives and possible actions being considered at a 15 February all-hands meeting that was beamed direct…
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