Mitu Gulati and Bob Rasmussen members of the law faculties of Duke University and the University of Southern California, respectively argue that Puerto Rico has another route to restructuring its debts The federal courts have declared that Puerto Rico does not have the authority to enact an insolvency regime applicable to its public sector borrowers.…
Paul O’Donoghue Published 14/01/2016 | 14:50 Junior Minister Ged Nash. Photo: Tom Burke The Government has commissioned a review of legal protection to ensure companies meet their obligations to their employees and unsecured creditors if they go into liquidation. Share Go To Labour court chair Kevin Duffy and company law specialist Nessa Cahill have been…
The ultimate fate of Dick Smith may not be known for six months. DICK Smith stores were selling customers soon-to-be worthless gift cards in the days before Christmas at the same time it was calling in the administrators. McGrathNicol was brought in to advise the ailing company on December 23. The firm was officially appointed…
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here. SunEdison (NYSE: SUNE) disclosed the following on Wednesday night: Item 1.01 Entry into a Material Definitive Agreement. Indenture On January 11, 2016, in connection with the Exchange Transactions (as defined below), SunEdison, Inc. (the Company, we or our) issued $225,000,000 aggregate principal…
Kmart stores closing (NASDAQ:SHLD) in 2016 include four in California. The retailers liquidation will begin on Jan. 24 and continue through April, according to a company spokesperon on Wednesday. Kmart stores closing are part of a series of actions were taking to reduce ongoing expenses, adjust our asset base, and accelerate the transformation of our business model,…
Premium chocolate brand Koko Black will emerge out of voluntary administration with a new owner, after the founder of the Grilld burger chain, Simon Crowe, bought the brand. Fairfax reports that Koko Blacks administrator Deloitte informed Koko Black employees of the sale this week. The majority of Koko Blacks 14 stores are expected to be…
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here. Standard & Poor’s Ratings Services lowered all its ratings on Terraform Private LLC (Private) and TerraForm Global Inc. (Global)(Nasdaq: GLBL), including the corporate credit rating to ‘B-‘ from ‘B’. The rating outlook is stable. “The rating actions on Private and Global are…
13 Jan 2016 / Greg Moskovitch While to outsiders it seemed as though the collapse of Soundwave was a sudden implosion brought on by mysterious forces, in reality it was a slow disintegration that stretched all the way back to the success of the legendary 2013 festival. Where most fans came on board was…
HASLERS has made Dominic Dumville an insolvency partner at the Essex-based firm Dumville joined Haslers in 2005 as a part-qualified accountant, before complete his ACCA qualification. He worked with both the business services group and corporate finance team before joining insolvency in July 200, and successfully completing the Joint Insolvency Examination Board (JIEB) exams. Further…
By Gareth Latimer, director of recovery and restructuring, Grant Thornton NI Published 12/01/2016 If youve overspent during Christmas, you may need to reassess your financial position in the new year January is a long month for most people, both in terms of the dark nights and also financially. For anyone paid monthly, your December salary…