European quarterly institutional loan volume activity in €bn (estimated). Source: Pitchbook | LCD Data through March 11, 2024 It is fairly well known in our circles at least that loan-to-own distressed debt investors have been raising capital to purchase debt positions as a pathway to taking ownership of financially stressed companies via debt-for-equity swaps, and…
Save (0) Please login to bookmark Close Username or Email Address Password Remember Me After running a successful campaign to remove three board members, major Keybridge shareholder WAM Active has convinced a court to end the investment company’s administration after it provided a letter of comfort and offer to fund its debts. Subscribe to Lawyerly…
Highlights: Investors, lawyers air concern over risks in China’s bankruptcy process China bankruptcies are rising amid economic slowdown, property slump Chuming case raises investor concern over enforcement of bankruptcy laws Chuming, judicial authorities did not respond to questions about its bankruptcy When a Chinese pork producer filed for bankruptcy in 2019, the news came as…
The British owner of New Brunswick small modular nuclear reactor developer Moltex Energy Canada Inc. is up for sale as part of a U.K. insolvency proceeding. Moltex Energy Ltd., a private company based in Stratford-upon-Avon, announced last month the appointment of two insolvency practitioners from accounting firm Azets Holdings Ltd. to manage its affairs. Azets…
When a Chinese pork producer filed for bankruptcy in 2019, the news came as a jolt to Alan Hill. The retired Apple executive from Albuquerque had invested about $100,000 last decade in Dalian Chuming Meat Processing through a U.S.-listed holding company, Energroup Holdings. Chuming had not paid dividends for many years, but it supplied pork…
Open this photo in gallery: A shopper walks past an empty sales area at the flagship downtown Hudson’s Bay store, in Vancouver, on March 24.DARRYL DYCK/The Canadian Press A law firm representing some Hudson’s Bay Co. employees is raising the alarm about long-term disability payments, which are paid out of the company’s cash and are…
Hudson Regional Hospital has officially taken control of Hudson County’s struggling CarePoint Health System, establishing a new, countywide health network. On Friday, a federal bankruptcy court judge confirmed CarePoint’s plan to exit bankruptcy and hand over control of its three hospitals ― Christ Hospital in Jersey City, Bayonne Medical Center and Hoboken University Medical Center…
By Wandoo Sombo The Business Recovery and Insolvency Practioners Association of Nigeria (BRIPAN) is collaborating with the Federal High Court to improve the efficiency of insolvency procedures in the country. The President of the association, Mr Chimezie Ihekweazu, SAN, made this known on Monday in Abuja when he led members of BRIPAN on a visit…
A businessman has come under fire after his Sandbanks restaurant went into liquidation with over £600,000 of debts, including thousands owed to local suppliers. Andy Price abruptly closed the The Tandy eatery in January with the loss of all the staff after running into financial troubles. The restaurant, which is next to Rick Stein’s dining…
The National Company Law Tribunal (NCLT), Hyderabad Bench, has approved a resolution plan for M/s Manjeera Retail Holdings Private Limited (MRHPL). The plan, submitted by M/s Lulu International Shopping Malls Private Limited (LISMPL), received unanimous support from the Committee of Creditors (COC).The resolution plan entails a total amount of ₹318.42 crores, allocated to secured financial…