SAS Scandinavian Airlines (SK, Copenhagen Kastrup) has filed a second amended restructuring plan with the United States Bankruptcy Court for the Southern District of New York as part of its ongoing Chapter 11 process, claiming to have obtained the support of the majority of unsecured creditors. The amended plan includes allocating up to USD325 million…
Reuters. FMC Corporation (NYSE: NYSE:), a global agricultural sciences company, held its Fourth Quarter 2023 Earnings Call, outlining its performance and future strategy. Despite facing market challenges, such as drought conditions in Brazil, the company reported a 5% increase in branded diamide sales and a significant contribution from products launched in the past five years.…
Oksana Lashko has joined Morrison Foerster as a partner in the business restructuring and insolvency group in the transactions department in New York, the firm said Wednesday. Lashko represents debtors, creditors, and official and ad hoc committees in chapter 11 cases, out-of-court restructurings, cross-border insolvency matters, bankruptcy-related acquisitions, and insolvency-sensitive transactions and investments, according to…
Alan Brody, shareholder in Florham Park-based Greenberg Traurig LLPs New Jersey Restructuring & Bankruptcy Practice, has been elected as the Turnaround Management Associations New Jersey chapter president for January 2024-December 2025. Members of the executive committee, including Brody, were installed at the annual meeting of the New Jersey chapter Feb. 1 at the Baltusrol Golf…
DocuSign (DOCU) shares slide as the company announces a restructuring plan, which includes reducing its workforce by about 6%. In addition, the company forecasts incurring around $28-32 million in non-recurring restructuring changes involved with the plan. DocuSign is the latest company to announce layoffs in 2024. Yahoo Finance Anchors Brad Smith and Seana Smith break…
New Delhi: The board of directors of FSN E-commerce Ventures, in a board meeting on Tuesday, has considered undertaking group businesses restructuring initiatives to achieve various strategic objectives, the company said in a regulatory filing. According to the filing, the key objective of these initiatives is to bring operational synergies by streamlining business operations and…
(Bloomberg) — DocuSign Inc. is cutting about 6% of its workforce as part of a restructuring effort after talks to sell itself appear to have stalled. Most Read from Bloomberg The move will mostly affect staff in sales and marketing, the company said in a statement on Tuesday. DocuSign had 7,336 employees at the end…
News Brazilian telecoms operator Oi plans to divest its stake in neutral fiber company V.tal, as well as its fiber broadband customer base, in a new push to cut debt and improve financial sustainability. The two items are at the core of a new version of Ois judicial reorganization filed Tuesday with the Rio de Janeiro…
From 1 January 2021, Australias insolvency framework for small businesses changed. The purpose of the change was to assist small businesses, with debts under AUD $1 million, to survive specifically, by providing these businesses with simpler, more flexible restructuring options outside the existing one size fits all voluntary administration and scheme of arrangement processes available…
UBS financial adviser Brenda O’Connor Juanas and Sit Investment Associates Sr. Vice President Bryce Doty preview 4Q earnings reports, discuss Walmart stock grants and give their economic outlooks. Cosmetics company Estee Lauder announced on Monday that it will cut up to 5% of its global workforce as part of a restructuring plan. The company, which…