An attorney in the bankruptcy case of CBL & Associates Properties Inc. said Monday that the Chattanooga-based mall operator is taking care of its centers as it moves into the holidays. “This company has been managing these properties for decades,” said CBL attorney Ray C. Schrock. “We’ve been able to keep operating and move onto…
The agreement additionally includes $165 million in new equity investments from a fund managed by the private equity group of Guitar Centers controlling owner Ares Management Corporation (which acquired a majority stake in the company in 2014), new investor Brigade Capital Management, a fund managed by The Carlyle Group and other lenders. The company says…
By Reuters Staff 1 Min Read FILE PHOTO: IMF Managing Director Kristalina Georgieva arrives for a conference hosted by the Vatican on economic solidarity, at the Vatican, February 5, 2020. REUTERS/Remo Casilli WASHINGTON (Reuters) – The head of the International Monetary Fund on Sunday called for prompt and effective implementation of a new G20 framework…
President-elect Joe Biden expressed support for student debt forgiveness up to $10,000 at a press conference on Nov. 16 in Wilmington, Delaware. Joe Raedle/Getty Images About 42 million Americans hold a total of $1.6 trillion in student loan debt. The hot-button issue of student loan cancelation, or forgiveness, has once again been top of mind…
Lenders to Lavasa Corporation, a bankrupt hill city near Pune, have been left disappointed as none of the bidders for the company submitted a viable financial plan TopicsCoronavirus|tarun gogoi|Lavasa BS Web Team Last Updated at November 24, 2020 07:17 IST Serum Institute, Bharat Biotech gear up to export Covid-19 vaccine shots Indian vaccine makers are…
Daniel Patchett received a 10-year ban for managing a company when bankrupt, while his wife, Yasmin Patchett has been disqualified for six years. Their company, DRP Distribution Ltd, was incorporated in November 2016, and provided storage and distribution services, working with several courier companies. However, it was wound up by the courts in May 2019.…
Grocon, the Australian construction empire that grew from the family concreting business started by Luigi Grollo in Melbourne in 1948, is on its last legs. But Grocon, the privately held property development empire headed by Luigis grandson Daniel Grollo, will continue to operate. Media outlets have breathlessly reported Grollos announcement that Grocons construction business is…
Croydon council has outlined a drastic renewal plan that would result in extensive staff job losses and major reductions to services at libraries and childrens centres, in one of the most dramatic cuts programmes ever seen in local government. The Labour-run council, which in effect declared itself insolvent earlier this month after revealing a 67m…