Philippine Airlines (PAL) has said there is no certainty its business restructuring process will end by 2021, noting that a variety of factors will affect the timeline. The carrier was responding to a news report by the Manila Bulletin, which cites PAL president and chief operating officer Gilbert Santa Maria as saying that the embattled…
In its second annual list, ALB showcases outstanding private practitioners in India when it comes to client service. These lawyers were selected based on client recommendations sent directly to ALB. The list is in alphabetical order, and some lawyers have been profiled. VINEET ANEJA, managing partner and head of corporate practice, Clasis Law Aneja, who…
MANILA, Philippines–(BUSINESS WIRE)–Philippine Airlines Inc. (PAL) announced today that it has entered into a series of agreements with substantially all of the Companys lenders, lessors, and aircraft and engine suppliers, as well as its majority shareholder, to allow the Company to successfully restructure and reorganize its finances to navigate the COVID-19 crisis and emerge as…
The Debt Restructuring initiative focused specifically on its Finnish subsidiary Kuu Hubb Oy is intended to improve the companys financial situation by decreasing its current debt burden HIGHLIGHTS: Board of Directors unanimously supports the debt restructuring of its Finland-based subsidiary Kuu Hubb Oy, which represents over 7.7 million of aggregate indebtedness Kuuhubb Inc.s operations will…
HIGHLIGHTS: Board of Directors unanimously supports the debt restructuring of its Finland-based subsidiary Kuu Hubb Oy, which represents over 7.7 million of aggregate indebtedness Kuuhubb Inc.s operations will continue without interruption; the process is not expected to have any impact on customers, vendors or employees The Debt Restructuring proceedings will be under the jurisdiction of…
– Company anticipates completing previously announced infrastructure division sale to I Squared Capital in the coming weeks – Prepackaged chapter 11 cases for entities based in the United States (U.S.) contemplated after the sale of infrastructure division is closed – The combination of the infrastructure division sale and the transactions contemplated by the RSA will…
MCLEAN, Va.–(BUSINESS WIRE)–GTT Communications, Inc. (OTC: GTTN), GTT or the Company, a leading global cloud networking provider to multinational clients, announced today that it has entered into a Restructuring Support Agreement (RSA or the agreement) with key stakeholders, including holders of a majority of its secured and unsecured debt and I Squared Capital, to implement…
Creditors of NMC Health, the former FTSE 100 private healthcare group embroiled in a massive fraud scandal, have approved a restructuring that will allow 34 group companies to exit administration in Abu Dhabi and to continue to operate the core business. In a vote in the United Arab Emirates yesterday, creditors gave overwhelming support for…
Creditors of NMC Health have approved its proposed deeds of company arrangement (DOCA) restructuring process, a move that allows 34 companies of the UAEs biggest healthcare provider to exit administration. NMC secured approval for its restructuring proposal from 95 per cent of its creditors on Wednesday, the company said in a statement. The companies that…
share this article Share this article Dzulfiqar Fathur Rahman (The Jakarta Post) PREMIUM Jakarta Wed, September 1, 2021 The Indonesian Employers Association (APINDO) is in talks with the government and the Financial Services Authority (OJK) to propose a three-year extension for debt postponement petition (PKPU) and bankruptcy lawsuits as well as the loan restructuring program,…