The measures take into account the group’s site-related set-up, its new strategy and the current strained balance sheet situation. The board of directors and group management intend to concentrate production at the Sulgen site by the end of 2023. The headquarters and administration will remain in Hochdorf. The proceeds from the planned sale of the…
CavinKare indicated that the business will be split into mainly four different streams – FMCG, ecommerce, retail and research and development. TopicsCavinKare|FMCG|ecommerce Shine Jacob | Chennai Last Updated at August 30, 2021 19:03 IST In a first step towards succession plan, Chennai-based fast-moving consumer goods (FMCG) major CavinKare on Monday announced the restructuring of its…
Media connections and analysis company, Medianet /Mediaverse is restructuring the business to rationalise the management structure of the two operations. As a result Michael OConnell, managing director of Medianet and Mediaverse, and Sarah Higgins, general manager of Medianet will leave the business. The restructure is aimed to take an increasingly product and technology-enabled approach. Amrita…
Mumbai (Maharashtra) [India], August 30 (ANI): Barely one per cent of eligible companies in the portfolio of Crisil Ratings have opted for or are contemplating the debt restructuring facility offered by the Reserve Bank of India (RBI) under its resolution framework 2.0, a survey of 4,700 companies shows. As much as 95 per cent of…
By Davide Barbuscia 2 Min Read DUBAI (Reuters) – Dubai state-owned property developer Limitless is set to reach an agreement with creditors over some $760 million of troubled debt, documents seen by Reuters showed – its third restructuring in a decade. FILE PHOTO: A general view of the Burj Khalifa and the downtown skyline in…
A general view of the Burj Khalifa and the downtown skyline in Dubai, United Arab Emirates, June 12, 2021. Picture taken June 12, 2021. REUTERS/Christopher Pike DUBAI, Aug 29 (Reuters) – Dubai state-owned property developer Limitless is set to reach an agreement with creditors over some $760 million of troubled debt, documents seen by Reuters…
Thursday, August 26, 2021 Opening the door for the SME market, Sir Alistair Norris has sanctioned the first ever restructuring plan for a mid-market company. The plan sanctioned in Amicus Finance PLC (in administration) is also the first restructuring plan proposed by insolvency practitioners and the first to cram down a secured creditor. The sanction…
(Bloomberg) — Johnson & Johnson defeated an effort to stop it from using the so-called Texas two step bankruptcy strategy to rid itself of tens of thousands of asbestos poisoning lawsuits. U.S. Bankruptcy Judge Laurie Silverstein refused to block the consumer products giant from taking corporate restructuring actions related to its asbestos liabilities and indemnity…
Satellite communications has always been a partly invisible affair. Once the satellites have been launched into space, they are forever lost to the eye in the distant darkness, unlike the terrestrial basestations that dot the land. Now one of their oldest operators is also going dark. Conceived when JFK sat in the White House, Intelsat…
An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018. REUTERS/Bobby Yip HONG KONG, Aug 26 (Reuters) – The government of Guangdong province is seeking feedback from major banks of debt-laden property developer China Evergrande Group (3333.HK) about forming a creditor committee, as the company warned of a further plunge in…