IRVINE, Calif., May 17, 2021 (GLOBE NEWSWIRE) — Millions of Americans are struggling to pay their rent during this pandemic. While on the verge of eviction, many have turned to credit cards and high-interest loans to keep up with their rent payments. Others are already late on rent and have bills piling up. After criticism,…
French President Emmanuel Macron has announced the cancellation of Sudans $5 billion debt to France in an effort to support the countrys transitional leadership and help its crippled economy recovering By SYLVIE CORBET Associated Press May 17, 2021, 7:11 PM 4 min read Share to Facebook Share to Twitter Email this article PARIS — French…
MONTRAL, May 17, 2021 /CNW/ – The economic impact of the COVID-19 pandemic is leading some businesses to consider the avenues available to them if insolvency becomes inevitable. Several companies in sectors which have been the most impacted by the financial crisis in Canada have taken this opportunity to restructure their business operations as an…
AT&T Inc. is spinning off its WarnerMedia business in a deal with Discovery Communications Inc. as the telecommunications giant refocuses its attention on its wireless business and looks to reduce its debt position ahead of a costly 5G build-out. The two companies formally announced plans to combine AT&Ts T, -0.87% WarnerMedia business with Discovery Inc.s…
State-owned NBCC and Suraksha group, which are in the race to acquire debt-laden Jaypee Infratech Ltd (JIL), will submit their revised bids by Tuesday. According to sources, a meeting of Committee of Creditors (CoC) is likely to be held on May 19 to discuss the bids submitted by both the parties under the Corporate Insolvency…
Member Article The North East chair of insolvency and restructuring trade body R3 has welcomed the introduction of the new breathing space scheme which gives people with money worries a period of time free from creditor pressure in which to start tackling their money problems. Alexandra Withers was speaking after the governments Debt Respite Scheme,…
A controversial Sydney property developer who was the first to fall foul of NSWs laws to stamp out illegal sunset clawbacks has gone bust leaving the buyers of its latest apartments, already three years behind schedule, devastated in its wake. Developer-builder Parker Logans apartment complex The Acre, that it began building in blue-chip Bellevue Hills…
The Insolvency Service is set to gain new powers for cracking down on directors who dissolve companies to avoid repaying government support monies. Under new legislation, the Insolvency Service will be given powers to investigate directors of companies that have been dissolved, closing a legal loophole and acting as a deterrent against the misuse of…
THE insolvency and restructuring profession rescued 297,000 jobs and returned 1.82bn to creditors in insolvency cases in 2019. That is the equivalent of around 800 jobs and 5m a day, according to a new report from R3, the insolvency and restructuring trade body. The report, The value of the profession: how insolvency and restructuring supports…
Stikeman Elliott’s restructuring lawyers have prepared this one-page guide to financial restructuring alternatives for Canadian businesses to help advise them when bankruptcy seems like the only available option. Our professionals work with businesses to outline solutions available for a successful financial restructuring, which include new cash infusions (private placement, rights offering, new senior debt or…