Two industrial companies owned by a Kettering-headquartered specialist investment firm have fallen into administration, Insider can reveal. Hughes Armstrong Industries, which acquires or invests in underperforming British manufacturing companies, has been hit by the administration of Brighouse-based BCI Brewchem Ltd, a manufacturer of steelwork structures used in the food, beverage and water industries, and Halifax…
The number financial restructuring and insolvencies is on the rise in the Asia Pacific region and despite low interest rates helping to cushion borrowers, depressed commodity prices have taken the number of global corporate defaults to their highest levels since 2008. For lawyers, an increase in work with respect to distressed situations is only likely…
Tervita Corp., the Canadian oilfield services company focused on waste management, is planning a debt-for-equity swap to reduce its total leverage by about C$2 billion ($1.5 billion). Holders of 63 percent of its senior unsecured notes and 90 percent of its subordinated unsecured notes have agreed to the proposal, according to a statement on Wednesday…
Clive Palmer’s absent nephew has weighed into the Queensland Nickel collapse controversy from the other side of the world, announcing plans to launch court action against the company’s liquidators. Previous slide Next slide Clive Palmer: ‘you’ll be sorry’ Clive Palmer threatens a photographer outside court in Brisbane, saying “you hit my wife again mate and…
OAKLAND, Calif. (KGO) — There will be two ships arriving at the Port of Oakland from Hanjin, which declared bankruptcy two weeks ago. One of them, The Hanjin Greece, made its way under the Golden Gate Bridge just after 4 p.m. Wednesday with 450 containers for eager businesses that have been anxiously awaiting their arrival.…
THE ongoing fall-out from tough trading conditions has ensured that many members of Greater Manchesters legal community have had ample opportunity to hone their capabilities when it comes to insolvency and corporate restructuring. Whats more, theyre regularly acting on behalf of the big four accountancy firms. TIER ONE – Addleshaw Goddard is noted for its…
British artist Rebecca Moss thought she was going to spend a few weeks crossing the Pacific Ocean as part of a artists residency, but now the freighter she boarded on August 23rd is stuck floating off the coast of Japan and theres no end in sight for her voyage. The residency, which is sponsored by Access Gallery in Vancouver,…
With the government of South Korea unwilling to rescue the country’s largest shipping line, liquidation seems the most likely outcome for Hanjin Shipping. Shipping restructuring specialists speaking at the Capital Link New York Maritime Forum on Sept. 13 predicted that Hanjin Shipping will ultimately be liquidated, not rehabilitated. Hanjin will likely be liquidated rather than…
Staff report 12:55 p.m. EDT September 14, 2016 North Jersey Media Group, publisher of the Bergen Record, announced Wednesday an ambitious restructuring designed to make its newsroom and sales department more responsive to the growing digital demands of readers and advertisers.(Photo: BananaStock, Getty Images) North Jersey Media Group, publisher of the Bergen Record, announced Wednesday…
Nicholas Jermyn placed into liquidation Save Wednesday, 14 September 2016 Retailer of business shirts Nicholas Jermyn has been placed into liquidation, with administrators saying workplaces becoming less formal and increased competition from online retailers led to its demise. The 10-year-old New Zealand retailer was in the hands of voluntary administrators since May when it shut…