(Adds details on results, context on restructuring, accounts review) March 9 (Reuters) – SIG Plc on Friday posted a 4.3 percent rise in full-year pretax profit, helped by strong demand in Europe amid a restructuring turnaround in several of its businesses. SIG, which supplies insulation and roofing products, said underlying pretax profit rose to 79.2…
Shares of GTL Infrastructure slumped as much as 20 per cent in morning trade today after it said the impact of Aircel’s insolvency will be materially adverse for the company. Shares of the company plunged 19.85 per cent to a low of Rs 3.11 on the BSE. On the NSE, the…
Melanie Gerlis March 9, 2018 Potential shenanigans involving art in the spotlight once again. London art dealer Matthew Green is among the defendants in the case against Beaufort Securities, three other corporations and five other individuals, accused by the US Department of Justice of a multiyear $50m-plus securities fraud and scheme to launder money, partly…
by Rigzone Staff | Friday, March 09, 2018 Aberdeen-headquartered energy services firm Proserv enters into a restructuring agreement with its principal lenders, which it says will ‘strengthen the long term financial structure of the company’. Aberdeen-headquartered energy services firm Proserv has entered into a restructuring agreement with its principal lenders, which it says will strengthen…
Joan Verdon and Charisse Jones, The (Bergen County, N.J.) Record and USA TODAY Published 6:43 a.m. ET March 9, 2018 CLOSE Toys R Us plans to shutter about 20% of its U.S. store fleet, saying “tough decisions” are needed to reinvent their brands. USA TODAY Empty shopping trolleys outside a closing Toys R Us store…
The endless trials and tragic tribulations of Liepja’s shuttered KVV Liepajas Metalurgs steelworks are continuing with news that the insolvency administrator supposed to be taking care of the company’s assets has lost his license after flunking a re-certification exam, the LETA news agency reported March 9. Guntars Koris told LETA that he lost his license on March 1 because…
IFCI, a government company, is enthused over the Insolvency and Bankruptcy Code (IBC) process, stating that its experience so far has been “encouraging”. This company is now making “judicious use” of the IBC to address corporate restructuring issues, which includes recovery, V Satya Ventakata Rao, Executive Director, IFCI told BusinessLine here. As on date, IFCI…