January 7, 2018 - Insolvency Guardian

First retail collapse of 2018 prompts expert warnings that more fashion pain to come – SmartCompany.com.au

BankruptcyBy Insolvency Guardian January 7, 2018

Insolvency and retail experts have warned fashion brands should expect to be crunched for yet another year, with womenswear brand Maggie T the first high-profile Australian retailer to enter administration in 2018. An insolvency notice from the Australian Securities and Investments Commission confirms Maggie T Corporation appointed voluntary administrators Cameron Gray and Justin Holzman of…

Capital restructuring eyed to address PT&T debt woes – Inquirer.net

RestructuringBy Insolvency Guardian January 7, 2018

Listed Philippine Telegraph & Telephone Corp. (PT&T) is poised to implement a capital restructuring plan that would settle long-running obligations ahead of the entry of a foreign strategic partner. A key feature of the plan, according to PT&T chief operating officer Miguel Bitanga, is the conversion of its creditors into preferred shareholders, which was outlined…

The fastest way to wipe credit card debt in 2018 – NEWS.com.au

Debt HelpBy Insolvency Guardian January 7, 2018

MANY Australians will have arrived in 2018 armed with hefty credit card debt that could cause financial heartache if not reined in. The damage from the festive season has already been done, but the full extent may not be realised until credit card statements begin to roll in. Starting a brand new year off in…

Bankrupts enjoy ‘lavish lifestyles’ – BBC News

BankruptcyBy Insolvency Guardian January 7, 2018

Image caption Barry Hughes owed £10m when he declared himself bankrupt Criminals and dishonest debtors are exploiting weaknesses in the bankruptcy system to keep hold of their assets and wealth, a BBC investigation has revealed. The BBC team found former millionaires enjoying lavish lifestyles, seemingly untouched by insolvency. Convicted fraudster Barry Hughes, who declared himself…

Capital restructuring eyed to address PT&T debt woes – Inquirer.net

RestructuringBy Insolvency Guardian January 7, 2018

Alnylam and Sanofi Enter into Strategic Restructuring of RNAi Therapeutics Rare Disease Alliance – Business Wire (press release)

RestructuringBy Insolvency Guardian January 7, 2018

CAMBRIDGE, Mass. & PARIS–(BUSINESS WIRE)–Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, and Sanofi announced today a strategic restructuring of their RNAi therapeutics alliance to streamline and optimize development and commercialization of certain products for the treatment of rare genetic diseases. Specifically, Alnylam will obtain global development and commercialization rights to its investigational…

Airbus prepares for generation shift at the top in landmark year – Financial Times

RestructuringBy Insolvency Guardian January 7, 2018

Peggy Hollinger, Industry Editor January 7, 2018 A joke has been doing the rounds in Toulouse, cradle of Frances aerospace expertise and home to Europes industrial champion, Airbus. What does Airbus do? It makes cars that fly and jets that stay on the ground. The jest neatly encapsulates concerns that have been voiced inside and…

Calls for farmers to get unique finance restructuring solutions to avoid being ‘destroyed’ – Independent.ie

RestructuringBy Insolvency Guardian January 7, 2018

David Hall wrote in today’s Sunday Business Post that the Irish farming community faces ‘farmageddon’ if more farm-related debt is passed on to vulture funds. He says that banks currently control much of Ireland’s farm-related debt, but that many of these loans may be sold to vulture funds, “with disastrous consequences for rural families and…

Caltex sees fuel supply skills opening doors in overseas markets – The Australian Financial Review

RestructuringBy Insolvency Guardian January 7, 2018

Caltex Australia has its eye on more Asian investments and supply contracts as it looks to take advantage of the skills in its Ampol fuel sourcing and trading business and prepares for an expected peaking of local demand for petrol and diesel in 10 to 15 years. Chief financial officer Simon Hepworth said Caltex’s recent…

Somalia calls for accelerated debt relief to fight terrorism – Financial Times

Debt HelpBy Insolvency Guardian January 7, 2018

David Pilling January 7, 2018 Somalias prime minister has called on multilateral lenders to accelerate the debt-forgiveness process so that the country can access funds to fight terrorism and its underlying causes. Somalia owes around $4bn, most of it interest and penalties on nearly three-decades-old loans made to the former military government of Mohamed Siad…

Daily Archives: January 7, 2018