by Cristiane Lucchesi, Fabiola Moura and R.T. Watson Samarco bondholders hired US law firm Hogan Lovells for help with debt-restructuring talks as the stalled Brazilian iron-ore miner runs out of money, according to people with knowledge of the matter. With a coupon payment looming, Hogan Lovells is seeking a Brazilian law firm to work with it…
Massachusetts Attorney General Maura Healey. (Image courtesy of the Attorney Generals office.) As part of her ongoing effort to address abuses in the student lending industry, Attorney General Maura Healey has announced action against a so-called debt relief company that allegedly charged hundreds of Massachusetts borrowers unlawful upfront fees and misled consumers about its affiliation…
In the context of US capitalism, corporate bankruptcy has become less an admission of failure or a final chapter than a kind of R&R, a chance to shed some flab and come back stronger. As anyone who has followed Donald Trumps career knows, a big company declaring Chapter 11 bankruptcy is like Lindsay Lohan checking…
Business news: German publishing house Gestalten has entered into voluntary insolvency after losing money on a concept store in Berlin. The company, which publishes books about architecture, design and other creative disciplines, made the declaration after failing to secure an extended credit line from its bank. “I had to apply for insolvency otherwise I could have…
The Massachusetts Attorney General has settled with a California student loan debt relief company that allegedly misled borrowers and charged them illegal upfront fees. Libre Technology Inc., a San Diego company, will refund $160,000 to more than 400 Massachusetts borrowers who were seeking help consolidating their federal student loans or applying for new repayment options.…
New data released by Vision-Net.ie shows that this August saw an average of just under two companies being declared insolvent each day – down slightly on the previous August when 70 companies ceased trading. The professional services sector was hardest hit this August and accounted for 14 (23%) of the insolvencies recorded. The construction sector…
Groovefest (Photo : via Goorvefest) Festival season is one of the most exciting times for music fans around the world. They get to see some of their favorite acts on big stages almost every weekend. Traveling and camping becomes part of the adventure. Even with the proliferation of festivals globally, there is a downside sometimes…
Healthcare major Apollo Hospitals Enterprise Ltd (AHEL) is expecting the six-member committee it formed to look into restructuring existing businesses to come out with its decisions in a year’s time. The company on Thursday said its Board of Directors has deliberated the possibility of various options to restructure the businesses by…
Nigeria: Restructuring & Insolvency Practice Area Review 2016 September 2016 By Etigwe Uwa, Streamsowers & Köhn In legal parlance, restructuring of a corporate entity is effected upon a declaration of insolvency or to avert insolvency or in some cases for the expansion of the business base of such organisation. In the case of statutory…
Photo courtesy of Michael Miller/Groovefest Just three days before it was scheduled to kick off its annual weeklong festival in the Dominican Republic, Groovefest has canceled its 2016 event. According to a Facebook post published around 10 AM PST, the promoters cite being unable to hit ticket sale targets as the reason for cancellation, thus…