Anxiety continues to mount over Ezion Holdings’ chunky debt numbers, with trading in the stock still on hold amid news that the firm is planning to restructure a staggering US$1.48 billion (S$2 billion) in loans. A report by Debtwire on Thursday said that Ezion has appointed RSM Singapore as financial adviser for a planned restructuring…
DetailsTata Steel group executive director Koushik Chatterjee played a key role in negotiating the pension deal that was signed on Friday. As part of the arrangement, the deal will impact 125,000 members of the pension scheme. Chatterjee said the agreement ends months of negotiations and brings finality to Tata Steel’s year-and-a-half long UK business restructuring…
DetailsTo guide, or not to guide that is the question. One week into the 2017 profit reporting season and this old chestnut about whether companies should provide earnings guidance is, with apologies to William Shakespeare, firmly back on the agenda. Lukewarm guidance issued this week by top performing retailer Nick Scali prompted a near 10…
DetailsTWO dozen bankruptcies were filed in Bundaberg during the last quarter. The 24 bankruptcies represented almost half of the 49 insolvency cases in the area during the three months to June. Insolvencies in Bundaberg were up 26.5% on the previous quarter and up 10% on the June quarter last year. Seven of the insolvencies were…
DetailsThe Insolvency and Bankruptcy Code, 2016 was enacted with the intention of improving the ease of doing business in India, a country perceived to have a weak insolvency framework and where defaulting debtors abuse the law. At the outset, the Code appears to have the interests of business at heart: it aims to overhaul laws…
DetailsHoulihan Lokey On of the biggest challenges for Scott Beiser, the CEO of $2.4 billion boutique global investment bank Houlihan Lokey, is making sure the company’s employees stay engaged and energized. The firm which specializes in corporate finance business, restructuring, and financial advisory services has grown significantly since it went public two years ago, boosting revenue…
Detailsduring Left rule (Eds: Recasting story) Kolkata, Aug 11 The Trinamool Congress-led West Bengal government has sought six months’ time from nine banks to repay the principal amount of a loan taken during the Left front rule over a decade ago for supplying iron ore to a China-based company. “We will only be able to…
DetailsTata Steel has reached an agreement over its £15bn pension scheme, in a move that the pensions regulator hopes will help secure jobs at the Indian-owned company that employs more than 8,000 people across the UK. The 130,000 members of the scheme one of the UKs largest are to be contacted by the trustees to…
DetailsLONDON: A 58-year-old Indian-origin director of a pizza company in the UK has been banned for seven years for making payments totalling at least 205,000 pounds to a company in which he had a personal interest. Balwinder Singh’s Charnwood Foods Ltd in the WestMidlands region of England had the franchise for Papa John’s Pizza in…
DetailsNEW YORK (GenomeWeb) NantHealth on Thursday announced it is laying off about 300 employees as part of a restructuring of its business. The firm also reported a 17 percent drop-off year over year in revenues for the second quarter. In a statement, the company said that the restructuring follows “a series of methodically analyzed actions,…
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