UCI Concludes Financial Restructuring Process and Emerges from Chapter 11 – Business Wire (press release)

BANNOCKBURN, Ill.–(BUSINESS WIRE)–Today, UCI International, LLC (UCI or the Company) announced it has completed its financial restructuring and has officially completed its Chapter 11 reorganization. The Company is now owned by its former creditors led by funds and accounts under the management of Blackrock Financial Management, Inc., Credit Suisse Asset Management, LLC, and J.P. Morgan…

New Private-Company Stock-Based-Pay Rules: Analysis – CFO Magazine

As part of its simplification initiative, the Financial Accounting Standards Board last March issued new stock-based compensation guidance. The update provides private companies, when granting stock to employees, with a one-time election to switch from measuring all liability-classified awards at fair value to measuring them at intrinsic value. In contemplating whether to make such an…

Pacific WebWorks Bankruptcy Liquidation Plan Effective – Bankrupt Company News (press release) (blog)

Pacific WebWorks Chapter 11 Plan of Liquidation became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on November 28, 2016. BankruptcyDatas Plan Summary notes, General Unsecured Claims will receive 80% of the amount of their Allowed General Unsecured Claims, in cash, on the Initial Distribution Date; and…

CEE MARKETS-Debt upgrade, peace with banks help Hungary outperform region – Reuters

By Marton Dunai BUDAPEST, Dec 30 Hungarian markets far outperformed regional peers in 2016 as ratings agencies restored the country’s investment grade status and its improving economic outlook lifted shares and the forint, while regional peers battled waning market confidence and political problems. Against a jittery international backdrop that included the surprise vote by Britain…

Senior positions affected in Inchcape’s restructuring – AsiaOne

Vehicle distribution giant Inchcape is restructuring its Singapore operations, a move that will result in one of the biggest downsizing exercises the local motor industry has ever witnessed. The Straits Times understands that some 120 employees across Toyota agent Borneo Motors and Suzuki agent Champion Motors will be retrenched within the next several weeks. The…