Former Goldman Sachs executive Bruce Mendelsohn has joined Perella Weinberg Partners as a partner in its advisory business, the firm has announced. Mendelsohn will be based in New York and will lead the companys restructuring practice. He will work closely with partner Kevin Cofsky and the other members of the restructuring team, according to a…
By Claire McNeilly Published 08/01/2016 Spiralling debts are becoming a major problem in Northern Ireland Almost 250,000 people in Northern Ireland are facing a debt time bomb – but are doing little or nothing about it, the Belfast Telegraph can reveal. Families account for 62% of those currently in serious financial difficulty and, in over…
The national carrier of Estonia has been formally declared bankrupt, following a European Commission (EC) decision that it received illegal government aid. The Baltic states airline closed its doors on Nov. 8, following the EC decision the previous day. This made it liable to repay 85 million ($92 million) it had received in state aid.…
Share this: Bulgarias Commission for Protection of Competition (CPC) has approved the sale of Bulgarian telecom firm Vivacom, one of the countrys three major carriers. The regulators decision was taken on December 22 2015, but the text of the ruling was not posted until January 8. Vivacom was put for sale after its parent company,…
U.S. Steel is using the L word again liquidation. The American former parent to U.S. Steel Canada says it opposes a new process to sell the Canadian icon, now independent and under creditor protection, unless it also considers the liquidation value of the company. U.S. Steel Canada goes to court on Monday…
GlaxoSmithKline should be split, star investor Woodford says 8 January 2016 From the section Business Image caption Neil Woodford (left) tells the BBC’s Adam Parsons that his biggest mistake may have been not investing more in tobacco The UK’s biggest drugs company should be split up, says one of Britain’s most successful and influential investors.…
With Dick Smith entering receivership and home furnishings company Laura Ashley Australia appointing administrators this week, you might be forgiven for thinking that January is a particularly bad time for corporate collapses. Receivers were appointed to Dick Smith on Tuesday, with the electronic retailers 393 Australian and New Zealand stores no longer honouring outstanding gift…
by Patrick Hatch and Sally Rose Dick Smith has gone into voluntary administration, with receivers appointed to try to claw back debt owed to the company’s creditors. The electronics goods chain entered a share trading halt on Monday, pending an announcement about its “funding position and debt financing covenants”, and on Tuesday morning it announced that advisory firm McGrath Nicol…