Winter around the corner, Bucharest’s heat distributor files for insolvency, electricity&heat producer is next – Romania-Insider.com

Bankruptcy

Bucharests thermal energy distributor RADET filed for insolvency after a decision made by the Bucharest General Council on Wednesday, September 22. RADETs main supplier Electrocentrale Bucuresti (ELCEN) may also file for insolvency on Thursday, September 23. The two state-owned companies have been quarreling over overdue payments in recent years, threatening to stop providing heat to Bucharests…

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Double the Debt Could Mean More Than Headaches for Current Student Loan Borrowers – TWC News

Debt Help

ERIE COUNTY, N.Y. — The clients who sit across from Noelle Carter are looking for help. Sometimes it’s help dealing with student loan debt close to the state average, more than $32,000 according to a report from the state comptroller’s officer. Other times, that sum can reach north of $100,000. “They can’t afford to move out…

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Indigenous contractor into liquidation – Business News

Liquidation

Guildford-based BYAC Contracting has been placed into liquidation after losing a long-running contract at the Murrin Murrin nickel project and failing to establish itself as a training provider. The liquidation does not affect parent company Burnna Yurral Aboriginal Corporation, which is owned by members of the Laverton-based Tucker family. The contracting arm was established about…

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China state-owned non-ferrous metals group declared bankrupt – Global Times

Bankruptcy

State-owned Guangxi Non-ferrous Metals Group Co. in south China’s Guangxi Zhuang Autonomous Region has been declared bankrupt, despite a nine-month restructuring push. According to an announcement published by the intermediate people’s court of Nanning City on Sept. 12, the company had neither submitted a restructuring plan within six months of the court’s initial ruling, nor…

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Gavel to Gavel: The insolvency dilemma for directors – Journal Record (subscription)

Bankruptcy

Tyler P. Evans In light of a recent swell of bankruptcies in Oklahoma and surrounding areas predominantly triggered by the turbulent energy market directors should fortify their understanding of fiduciary duties owed to companies in times of financial distress. As a general rule, directors are charged with maximizing the value of the company…

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Brickworks boss says Sydney real estate prices close to peak – The Australian Financial Review

Restructuring

Managing director Lindsay Partridge said he thought real estate prices in Sydney wouldn’t increase much higher for this particular cycle. Jessica Hromas The managing director of Australia’s biggest brick supplier says real estate prices in Sydney are close to their peak in this cycle, and there’s not much more upside. Brickworks runs the Austral Bricks business…

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Halcon Emerges from Bankruptcy Restructure (HK) – Investopedia

Restructuring

Halcon Resources Corp. (HK) has exited from its prepackaged chapter 11 bankruptcy agreement after completing its financial restructuring. Voluntary Bankruptcy Filing Halcon filed for voluntary Chapter 11 bankruptcy and entered a pre-packaged restructuring support agreement with stakeholder. The restructure was intended to eliminate approximately $1.8 billion of the companys debt, leaving it with around $1.09…

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