By David Lawder WASHINGTON, April 26 (Reuters) – China’s massive corporate debt problem could be eased through debt-to-equity conversions or securitization of non-performing loans, the International Monetary Fund said on Tuesday, but only if these apply to viable firms that undergo restructuring. The IMF said in a blog posting on its website that it welcomes…
SEJONG, April 26 (Yonhap) — South Korean trade minister said Tuesday that the government will support market and creditor-led corporate restructuring efforts amid rising public calls for stricter action to sort out marginal companies. “We encourage creditors to take the lead in carrying out restructuring processes based on the market system,” Trade Minister Joo Hyung-hwan…
Australian fashion designer Johanna Johnsons label has been placed into liquidation today after going into voluntary administration last week. The business, which has dressed the likes of Madonna, Christina Hendricks and Australia foreign minister Julie Bishop, owes the Australian Tax Office (ATO) more than $1 million, which includes $300,000 in superannuation charges the company failed…
Furious brides have lashed out at celebrity fashion designer Johanna Johnson, after discovering they could lose their wedding gowns when the business was placed into liquidation. Key points: Johanna Johnson fashion label liquidated Company owes $1.1m to tax office, thousands to creditors Multiple brides fear they will not receive dresses before weddings The…
Ahead of todays Q1 2016 earnings release and call, Intel has announced that they are going to be cutting a significant number of jobs over the next year. The job cuts come as part of Intels larger and ongoing restructuring efforts, as the company grapples with an overall soft PC market and continued struggle to…
Desert Rug Co. is about to roll up and roll out. The Persian rug retailer will could close by the end of May after 12 years of business in State College, according to manager Amin Rahnama. The shop was opened in 2004 by Masood Arjmand, who was a long-time Penn State professor and businessman. He…
Updated April 26, 2016 2:34 p.m. ET Sports Authority has abandoned hope of reorganizing and exiting bankruptcy and instead will count on buyers to save parts of its sprawling retail chain, company lawyer Robert Klyman told a judge Tuesday. It has become apparent that the debtors will not reorganize under a plan but instead will…
Aberdeen firm SeaEnergy in insolvency talks as shares are suspended By Douglas Fraser Business/economy editor, Scotland 26 April 2016 From the section Scotland business Image copyright Google Aberdeen-based firm SeaEnergy has announced it is in talks with insolvency advisers, and has had trading in its shares suspended. The offshore energy company has tried to find…
The shareholders and directors of D.A. Holdings Limited, the owners of the Daniels shopping complex in Hamrun, have said they will appeal the court order that has declared the company insolvent… Read the full article at: http://www.maltatoday.com.mt/business/business_news/64479/hamrun_shopping_mall_owners_to_appeal_insolvency_order
The shareholders and directors of Daniels Shopping Complex have appealed a court order which declared the company insolvent, claiming a breach of their right to a fair hearing and their right not to be discriminated against. “It results from the acts of the case instituted by Panta Contracting Limited that the shareholders, the directors and…