US firm Houlihan Lokey parts ways with Rajiv Kochhar’s Avista Advisory Group – Economic Times

Restructuring

MUMBAI: Houlihan Lokey, the California-headquartered financial restructuring giant, called off its partnership with Avista Advisory Group, a debt-restructuring and advisory firm controlled by Rajiv Kochhar, brother-in-law of ICICI Bank CEO Chanda Kochhar. The move ends an eight-year-old partnership amid increasing scope for business in India under the Insolvency and Bankruptcy Code. The US firms profile…

Nine West Holdings Files for Chapter 11 Reorganization to Focus on Strong Business Units – PR Newswire (press release)

Restructuring

In conjunction with the restructuring, the Company received $300 million in debtor-in- possession financing and the Company has entered into a Restructuring Support Agreement (RSA) with parties that hold or control over 78% of its secured term debt and over 89% of its unsecured term debt. Such financing, combined with cash generated from the Company’s operations, will…

Kevin O’Leary Taps ‘Sharks’ To Help Pay Back Tory Leadership Debt – HuffPost Canada

Debt Help

Casa Loma, an audacious 180,000-square-foot castle in Toronto built by a tycoon who died penniless, seemed the right place to talk about the burdens of big dreams. But that wasn’t Kevin O’Leary’s focus as he worked the marble floors of its glass-domed conservatory Thursday night. Decades earlier, O’Leary had hoped to hold his wedding reception…

UK Government Publishes Guidance on Corporate Governance in Insolvency – JD Supra (press release)

Bankruptcy

Following a number of corporate governance failures in situations of insolvency, the Government has published a consultation paper (located here) aimed at cracking down on directors and employers behaving irresponsibly.  These reforms will give the regulatory authorities much stronger powers to come down hard on abuse and to make irresponsible directors bear the consequences of their…

Nine West Holdings Files for Chapter 11 Reorganization to Focus on Strong Business Units – Markets Insider

Restructuring

NEW YORK, April 6, 2018 /PRNewswire/ — Nine West Holdings, Inc. (“the Company”), a leading footwear, accessories, women’s apparel, and jeanswear company with a portfolio of brands that includes Nine West, Anne Klein, and Gloria Vanderbilt, today announced that it has filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. This action…

UK Government Publishes Guidance on Corporate Governance in Insolvency – JD Supra (press release)

Bankruptcy

Following a number of corporate governance failures in situations of insolvency, the Government has published a consultation paper (located here) aimed at cracking down on directors and employers behaving irresponsibly.  These reforms will give the regulatory authorities much stronger powers to come down hard on abuse and to make irresponsible directors bear the consequences of their…