By Reuters Staff 2 Min Read MILAN (Reuters) – A revamped Alitalia will start with 45 planes, have around 4,500 workers and get just over 1 billion euros ($1.2 billion) in state support, less than half of what was previously envisaged, newspaper La Repubblica reported on Tuesday. FILE PHOTO: An Alitalia Airbus A320-200 passenger aircraft…
LAS VEGAS & TORONTO–(BUSINESS WIRE)–Flower One Holdings Inc. (Flower One or the Company) (CSE: FONE) (OTCQX: FLOOF) (FSE: F11), a leading cannabis cultivator and producer in Nevada, today announces its intention to consummate a proposed restructuring transaction involving the convertible debentures (the March Debentures) issued by Flower One pursuant to the debenture indenture dated March…
The past year has fractured our world in countless ways. Now, as people look to pick up the pieces, those managing debt need to account for their position in our uneven economic recovery. In this so-called K-shaped recovery, one part of the population is rebounding quickly while another has a longer, slower path. For example,…
Mar 02 2021, 1:25 PMMar 02 2021, 1:25 PMMarch 02 2021, 1:25 PMMarch 02 2021, 1:25 PM Provisions of the insolvency law that protect a corporate debtor from other proceedings will also cover dishonoured cheques, the supreme court ruled, taking a view contrary to two earlier high court verdicts.Moratorium allowed under Section 14 of the…
Greensill Capital has sought protection from Australias insolvency regime, as the finance group races to strike a rescue deal and another fund severed ties. The company is hoping to invoke safe harbour protection in Australia, which shields directors from personal liability for a company trading while insolvent, according to people familiar with the matter. Greensill…
Hospitality and tourism businesses continue to be the hardest hit due to the impact of COVID-19 with several closing their doors last month. There were 36 Queensland firms that collapsed into liquidation and administration in February, up from 27 the previous month. Revive Financial partner Jarvis Archer said his office had seen an increased number…
Back in 2003, just a year after his loss to fellow legend Lennox Lewis, Mike Tyson declared bankruptcy with reported debts of $23 million (16.5 million). And while he has made more than $300 million (216 million) in his entire carrier, Tyson was forced to sell off many of his assets, which also included his…
Credit Suisse is understood to be concerned about the rising level of noise surrounding Greensill over the past two years and its fiduciary duty to investors. This includes Greensills financial exposure to British billionaire Sanjeev Guptas GFG Alliance, which owns steel, aluminium and iron ore mining businesses, and operates the Whyalla steelworks in South Australia.…
The multi-billion dollar financial empire built by Bundaberg farmer’s son Lex Greensill faces unravelling. London-based Greensill Capital, founded by Mr Greensill a decade ago, has appointed Grant Thornton to look at restructuring options as it faces the possibility of filing for insolvency, according to people familiar with the company. The financial strife came after Credit…
By Reuters Staff 2 Min Read MILAN (Reuters) – A revamped Alitalia will start with 45 planes, have around 4,500 workers and get just over 1 billion euros ($1.2 billion) in state support, less than half of what was previously envisaged, newspaper La Repubblica reported on Tuesday. FILE PHOTO: An Alitalia Airbus A320-200 passenger aircraft…