Stock Exchange Release Talvivaara Mining Company Plc 20 September 2016 Status of Talvivaara’s reorganization proceedings The Company has started preparations for the conversion issue in accordance with the restructuring programme Talvivaara Mining Company Plc (“Company” or “Talvivaara”) announces that today it has received a statement from the Administrator of its corporate reorganization proceedings…
DetailsFears of a fresh debt crisis in developing countries that would send shockwaves through the global financial system have been highlighted by a United Nations report stressing the vulnerability of poor states to falling commodity prices and higher interest rates. The annual report from the UN conference on trade and development (Unctad) said the benefits…
DetailsSeptember 21st, 2016 Holly Birkett Europe, Finance and Insurance, Tankers 0 comments A bankruptcy court in New York has approved Primorsk International Shippings (Prisco) liquidation plan, reports say. Prisco filed a voluntary petition in January for reorganisation under Chapter 11 in the US Bankruptcy Court for the Southern District of New York, saddled with $262.2m…
DetailsChinas great debt restructuring has begun. According to Caixin News, Guangxi Nonferrous Metals Group Corporation was formally declared bankrupt on 12 September after several years of restructuring. China Debt Situation Gets Worse And Other EMs Start To Struggle At first glance this may appear to be somewhat of a non-event, after all, they have…
DetailsBBJ Wednesday, September 21, 2016, 09:50 Retail store operator Palóc Nagykereskedelmi, which announced last week that Hungarian-owned retail chain CBA had canceled its franchise contract for all its 80 stores, reportedly voluntarily filed for bankruptcy at a local court in Balassagyarmat yesterday. Last week the company had said its stores would reopen this week. The…
DetailsComments (0) Management at a green energy technology business say they have completed substantial restructuring after facing financial problems earlier this year. Last March, Loughborough’s Intelligent Energy announced major funding plans had fallen through, with no guarantee future funds would be available. As a consequence the business said at the time it was cutting up to…
DetailsSeptember 21, 2016 | 5:21 PM by A. E. JAMES/[email protected] Majority state-owned Port Services Corporations revenue started declining substantially after the government shifted commercial activities of Muscat port to Sohar port in August 2014. Photo – File Muscat: An extraordinary general meeting of the shareholders of Port Services Corporation, the operator of Muscat port, will…
DetailsCompetitors might have been surprised to see JPMorgan Chase & Co. bankers Ricardo Leoni and Daniel Pombo at the negotiating table earlier this year helping Brazilian mining company Samarco Mineracao SA restructure about $3.8 billion in debt. After all, restructuring advice isnt what the New York-based bank is known for in Brazil. Leoni and Pombo are…
DetailsPictured: Stephanie Carr and Johnston Clark Blackadders has appointed Stephanie Carr to take up the role of leading the firms Glasgow office after 15 years with Harper Macleod, where she served as a partner in the insolvency department specialising in contentious personal and corporate insolvency law. With many years experience in commercial litigation and debt recovery, Ms Carr is a…
DetailsGetting out of debt isnt easy, and while theres plenty of practical advice to help, the psychological toll is a huge, often-overlooked obstacle. When you feel utterly powerless against debt, it only makes the process more difficult. While it takes money to get the job done, shifting your mindset to an empowered one will help…
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