Sophos plans to cull its workforce by up to 16 percent and close some offices just three months after being acquired by private equity firm Thoma Bravo, according to media reports. Sophos confirmed the restructuring in a statement to CRN, but did not respond to questions about how many workers were impacted and in what…
The Office of the Supervisor of Insolvency (OSI) and Office of the Government Trustee (OGT) are encouraging persons who have been facing financial obstacles as a result of the COVID-19 pandemic to engage the organisations for assistance. Speaking with JIS News, Deputy Supervisor of Insolvency, Fayola Evans-Roberts, said the organisations offer services that can assist…
Sophos plans to cull its workforce by up to 16 percent and close some offices just three months after being acquired by private equity firm Thoma Bravo, according to media reports. Sophos confirmed the restructuring in a statement to CRN, but did not respond to questions about how many workers were impacted and in what…
Executive Summary During the Covid-19 pandemic, many companies have been meeting their cash needs through existing lines of credit. But these will soon run out and those with highly leveraged balance sheets will need to undergo a financial restructuring in which the key contracts with financial stakeholders are renegotiated. This article describes the out-of-court and…
This significant recent decision of the Supreme Court of Canada confirms (i) that a CCAA supervising judg… This significant recent decision of the Supreme Court of Canada confirms (i) that a CCAA supervising judge enjoys broad discretion and the necessary jurisdiction to prevent a creditor from voting on a plan of arrangement when the creditor…
Tuesday, June 9, 2020 As set out in the firstblogin this series, the Corporate Insolvency and Governance Bill (the Bill) introduces a new debtor-in-possession moratorium to give companies breathing space in order to try to rescue the company as a going concern. The first blog outlined how the moratorium will work and the secondblogfocused on…
Passengers wait to get on a Hertz shuttle bus at Los Angeles International Airport. Patrick T. Fallon | Bloomberg | Getty Images To get a slice of one of the market’s most epic rallies, investors are snapping up stocks everywhereincludingshares in bankrupt companies, which in theory will be worth nothing. Hertz, Whiting Petroleum, Pier 1and…
Dufry is making sweeping changes to its business in a bid to accelerate growth and support profitability during the recovery phase of the economic crisis and beyond, it announced today. The changes, in place from 1 September, include: the integration of its headquarters and divisions, as well as rationalising its country groupings from 23 down…
Murchison is making a last-ditch attempt to save its embattled community hub, Murchison Neighbourhood House, nine months after its parent company liquidated taking the town’s only nursing home with it. Key points: With less than a week until tenders for the purchase of the building close, Murchison Neighbourhood House management has made a last-minute appeal…
Image via TuchuzyWords by Tori Mathison Another blow to the retail industry. Designer brand mecca Tuchuzy has announced that its entered into voluntary administration. The news comes after a startling number of Australian stores have been buckling under the coronavirus-related pressure on the retail market. The Bondi fixture has been an iconic Sydney fashion destination…