Thames Water’s board is split over two competing deals from its lenders aimed at saving the UK’s biggest water supplier from going insolvent. Two classes of creditors, group A bondholders and group B bondholders, are offering high-interest £3bn rescue packages intended as a liquidity lifeline while the company burns through cash and seeks to restructure…
A number of businesses have shown interest in purchasing Arshiya Ltd., a publicly traded supply chain and logistics infrastructure company that is presently going through corporate insolvency resolution. These businesses include Adani Ports and Special Economic Zone, JSW Infrastructure, Horizon Industrial Parks, and Transindia Real Estate Ltd. Investors like Authum Investment & Infrastructure Ltd, Dickey…
Insect protein scaleup Agronutris at risk of insolvency: ‘Access to funding has become harder’ Sifted Read the original article here
Digital River, a Minnetonka-based e-commerce pioneer with a global client roster, is shuttering its headquarters and laying off 122 employees after more than 30 years in business. The permanent layoffs, which include remote workers across the country, should start March 28, according to a WARN notice Digital River filed Monday with the Minnesota Department of…
Once a shining beacon of India’s booming edtech industry, Byju’s is now making headlines for all the wrong reasons. The company that once symbolized the aspirations of millions of students and parents is now caught in a legal and financial whirlwind, struggling to survive under an insolvency resolution process. In a dramatic turn of events,…
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Somerset Council could go bankrupt without sharp council tax rise Somerset Live Read the original article here
Meanwhile, both Adani Port and JSW Infrastructure have been spreading their businesses through acquisitions. Last year, JSW Infrastructure acquired a 70.37% shareholding in Mumbai-based Navkar Corporation for around Rs 1,012 crore, marking its entry into the logistics sector. Meanwhile, Adani Ports and Special Economic Zone (APSEZ), India’s largest private port operator, bought a majority stake…
NCLT orders removal of Byju’s IRP, reinstates Aditya Birla Finance as financial creditor MSN Read the original article here
One of Britain’s biggest luxury boat manufacturers has collapsed into administration less than two months after it was sold to new investors. Sky News has learnt that Fairline Yachts, which is based in Oundle, Northamptonshire, had fallen into insolvency proceedings after DF Capital, the company’s main lender, triggered the appointment of Alvarez & Marsal (A&M)…