The Company’s shareholders will vote on whether to approve the spin-off of two of the Company’s wholly-owned subsidiaries, SkyPeople Foods Holdings Limited (BVI) (“SkyPeople BVI”) and FullMart Holdings Limited (BVI) (“FullMart”), through a pro rata distribution of the ordinary shares of each of SkyPeople BVI and FullMart to holders of the Company’s common stock (the…
Police Scotland is looking into reports it has received about Royal Bank of Scotlands treatment of small business customers. The Scottish police force did not reveal how many reports it had received or the nature of the complaints but it is reported to be related to the banks now defunct global restructuring group (GRG). GRG…
Concordia International Corp., stumbling under debt that the Canadian drugmaker piled on during a takeover spree, is seeking to restructure its finances and cut borrowings by at least $2 billion after missing an interest payment Monday on some unsecured bonds. Management is pursuing a plan under the Canada Business Corporations Act, according to a statement…
XI’AN, China, Oct. 20, 2017 /PRNewswire/ — Future FinTech Group Inc. (NASDAQ: FTFT) (“Future FinTech” or “the Company”), a financial technology company and integrated producer of fruit-related products, today announced that it filed a proxy statement that includes, among several proposals, a proposal for a corporate restructuring to be voted on by proxy or in…
By Gareth Vaughan A failed Russian bank, an oligarch who fell out of favour with President Vladimir Putin, a descendant of War and Peace author Leo Tolstoy, five New Zealand trusts, a series of NZ companies and an Auckland lawyer. These are among the key ingredients in a British court judgment that concludes the NZ trusts were…
Police are looking into a complaint against the Royal Bank of Scotlands controversial business restructuring division. The complaint is understood to have been made by an individual over alleged misconduct at the bank’s under-fire Global Restructuring Group. The division, set up to help ailing business customers, has previously been accused of helping push firms under…
KOLKATA: ArcelorMittal, the world’s largest steel company, has joined the bidding race for stressed steel assets in the country by expressing interest to acquire Bhushan Steel. Top banking sources told ET that LN Mittal-led ArcelorMittal has submitted an expression of interest (EoI) for Bhushan Steel, which has been referred to National Company Law Tribunal (NCLT)…
Police in Scotland are looking into allegations a controversial division of Royal Bank of Scotland (RBS), set up to restore struggling companies to health, broke the law in its dealings with them. More than 90% of the firms put into RBS’ Global Restructuring Group (GRG), established after the financial crisis, are understood to have suffered…
PPG Industries Inc. PPG reported net earnings from continuing operations of $1.52 per share for the third quarter of 2017, as against the year-ago net loss from continuing operations of 79 cents. The results were in line with the Zacks Consensus Estimate. Net sales in the quarter increased 3.2% year over year to $3,776 million.…
Cabot Credit Management is seeking to list on the London stock market at an expected valuation of about £1bn, with the debt management group hoping to benefit from the rise in consumer credit. The UK company, which collects debts after buying defaulted or distressed loans from banks, on Friday said it would seek to raise…