By Press Association Published: 23:02 AEDT, 12 January 2018 | Updated: 05:32 AEDT, 13 January 2018 e-mail The crisis at Carillion looks set to deepen after it emerged that lenders to the construction giant effectively rejected a rescue plan proposed by the debt-laden group. The Press Association understands that a business plan tabled by the…
DetailsSHERMAN OAKS, Calif.–(BUSINESS WIRE)–Woodbridge Group of Companies, LLC and certain of its affiliates and subsidiaries (together the Company or Woodbridge), today announced that the Company has taken decisive steps to transition the real estate development business away from an individual investor model to institutional financing sources in support of the restructuring of the business. Specifically,…
DetailsState Bank of India (SBI) has initiated Corporate Insolvency Resolution Process against infrastructure developer IVRCL Ltd. The Bank has initiated the process under the Insolvency and Bankruptcy Code 2016 and filed an application under Regulation 7 of the Code with the National Company Law Tribunal (NCLT). The hearing on the application was held on January…
DetailsGKN is splitting its aerospace and automotive businesses in an effort to resist an unwelcome takeover approach from turnround specialist Melrose Industries that values the company at £8bn including debt. Shares in the FTSE 100 group soared on the back of the approach from Melrose, which has proposed an offer made up of 80 per…
DetailsRare Asset Reconstruction Pvt Ltd.s resolution plan got approval of 14.31 percent of the financial creditors against the minimum requirement of 75 percent. The employees of the company, who feared liquidation and loss of livelihood, sought to repay the secured lenders and address issues of all other stakeholders, the order said. Chief Commercial Officer Pawan…
DetailsUpcoming negotiations over the future of Macaus six casino concessionaires and the special administrative regions links to organized crime may have negative impact on a promising year for the city, risk mitigation expert and business consultant Steve Vickers said earlier this week. Mr. Vickers is CEO of Steve Vickers Associates, a company specializing in risk…
DetailsSAI has branches in Worcester, Hereford and Northampton, while BM operates across London and the South East. The new merged company will be called Benedict Mackenzie. Company director Sanjay Swarup said: The combined entity of BM and SAI brings together more than 20 years of experience of providing insolvency and advisory services. The scale will…
DetailsBinani Cement owes close to Rs3,042.93 crore to a consortium of lenders. Photo: Mint Mumbai: At least two lenders of Binani Cement Ltd, currently undergoing insolvency proceedings, have moved the appellate bankruptcy tribunal after the insolvency resolution professional (IRP) rejected their claims on corporate guarantees worth Rs2,000 crore issued by the company to some subsidiaries…
DetailsSOFIA (Bulgaria), January 12 (SeeNews) – Bulgaria’s central bank said it granted an approval to the local branch of French bank BNP Paribas Personal Finance S.A. to succeed the rights and obligations of Sofia-based BNP Paribas Personal Finance EAD as part of the company’s restructuring plan in Bulgaria. The new branch will succeed the consumer…
DetailsGovernment and stakeholders are meeting over Carillion’s future (PA) Carillion knocked back over business plan as crunch meeting looms Independent.ie The crisis at Carillion looks set to deepen after it emerged that lenders to the construction giant effectively rejected a rescue plan proposed by the debt-laden group. https://www.independent.ie/world-news/carillion-knocked-back-over-business-plan-as-crunch-meeting-looms-36482070.html https://www.independent.ie/world-news/article36482069.ece/25d1e/AUTOCROP/h342/ipanews_c5bf7bf5-ff0a-4e19-85b7-2e7c1d46769c_1 Email The crisis at Carillion looks…
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