Tyler P. Evans In light of a recent swell of bankruptcies in Oklahoma and surrounding areas predominantly triggered by the turbulent energy market directors should fortify their understanding of fiduciary duties owed to companies in times of financial distress. As a general rule, directors are charged with maximizing the value of the company…
Managing director Lindsay Partridge said he thought real estate prices in Sydney wouldn’t increase much higher for this particular cycle. Jessica Hromas The managing director of Australia’s biggest brick supplier says real estate prices in Sydney are close to their peak in this cycle, and there’s not much more upside. Brickworks runs the Austral Bricks business…
Travis Hornsby Early in our relationship, my girlfriend let me know she had $124,000 in medical school loans. I never had to deal with student loans myself, as I had an undergraduate scholarship and did not have to go to graduate school. While helping her navigate through a myriad of options, I realized that choosing…
22 September 2016 Lara Bullock Herbert Smith Freehills has created a new guide to help companies and lenders navigate the various insolvency regimes in the Asia-Pacific region. The Restructuring, Turnaround and Insolv… Read the full…
Halcon Resources Corp. (HK) has exited from its prepackaged chapter 11 bankruptcy agreement after completing its financial restructuring. Voluntary Bankruptcy Filing Halcon filed for voluntary Chapter 11 bankruptcy and entered a pre-packaged restructuring support agreement with stakeholder. The restructure was intended to eliminate approximately $1.8 billion of the companys debt, leaving it with around $1.09…
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…
Fears 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…
September 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…
Chinas 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…
BBJ 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…