(Bloomberg) — Creditors to Petrofac Ltd are opposing its debt restructuring, a proposal the oil services firm says it needs to prevent its collapse into liquidation. Saipem Spa and Samsung E&A Co Ltd argue that they are the primary targets of the prospective restructuring, given they are “very substantial actual and contingent creditors” of Petrofac…
Shares of Adani Power Ltd surged during the trading session on Tuesday after a resolution plan submitted by the Adani Group firm was approved by the committee of creditors of Vidarbha Industries Power (VIPL), which is undergoing corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC) 2016. On the back of heavy trading…
The pre-reorganisation system serves as a transitional mechanism between out-of-court restructuring and formal bankruptcy reorganisation. It is being increasingly applied to help courts more accurately assess a company’s reorganisation value, facilitate preparatory arrangements for proceedings, and ultimately improve the efficiency and success rate of corporate rescue. The origins The pre-reorganisation system originated in US judicial…
Walleys Quarry operator enters liquidation ENDS Report Read the original article here
The George Hotel and Beach Club, Yarmouth’s future in doubt Boutique Hotelier Read the original article here
LONDON, Feb. 28, 2025 (GLOBE NEWSWIRE) — Achilles Therapeutics plc (NASDAQ: ACHL) (the Company) today announced that it has formally notified The Nasdaq Stock Market LLC (Nasdaq) of its intention to voluntarily delist its American Depositary Shares (ADSs) from Nasdaq and its intent to deregister its ADSs from the Securities and Exchange Commission (SEC) under…
Achilles Therapeutics (NASDAQ: ACHL) has announced its intention to voluntarily delist its American Depositary Shares (ADSs) from Nasdaq and deregister from the SEC. The company has scheduled a General Meeting for March 20, 2025 to obtain shareholder approval for commencing a members’ voluntary liquidation. The company plans to file Form 25 with…
Why is the landfill so controversial?published at 11:47 Greenwich Mean Time 11:47 GMT Image source, Reuters Walleys Quarry landfill is located close to a large number of houses in the village of Silverdale in Staffordshire. For a number of years, residents have complained about a foul stench emanating from the site, which eventually spawned the…
China’s new Company Law introduces major reforms in capital systems, shareholder liability and corporate governance, significantly influencing implementation of the Bankruptcy Law. This article adopts a comparative law perspective to examine the theoretical frameworks and practical norms of bankruptcy laws in China and the US, with a focus on the new Company Law’s impact on…
Two subsidiaries of a major Hong Kong construction firm have been sued by a subcontractor for compensation of more than HK$9.5 million (US$1.2 million) after the parent company proceeded with winding-up proceedings. Paul Y Construction Co and Paul Y General Contractors – two subsidiaries of Paul Y Engineering Group – were allegedly indebted to Mankey…