Dealwatch: Elite firms drill into $7.1bn Valaris restructuring as eclectic deals epitomise market – Legal Business

In what has been called an extraordinary case, Valaris$7bn financial restructuring made sizeable waves this week, as firms including Kirkland & Ellis, Slaughter and May and Akin Gump steered it to a successful conclusion. The transaction sees offshore drilling service providerValaris emerge from Chapter 11 after the company filed in August 2020, eliminating $7.1bn of…

SPH to restructure media business into not-for-profit entity to support quality journalism – The Straits Times

SINGAPORE – Singapore Press Holdings (SPH), which publishes The Straits Times and Lianhe Zaobao, intends to transfer its media business to a not-for-profit company as part ofa strategic review of its various businesses. Announcing the move on Thursday (May 6), SPH chairman Lee Boon Yang said the transfer will enable the media business to focus…

Financial Advisers Turn From the Business of Restructuring as Bankruptcies Fall – The Wall Street Journal

Investment banks and other financial advisers are putting the business of fixing troubled companies on the back burner as financial distress stemming from the Covid-19 pandemic diminishes. Instead, advisory firms like FTI Consulting Inc., Greenhill & Co. and Lazard Ltd. , are turning more focus to blank-check companies; mergers and acquisitions; capital raising; and environmental,…

Duniatex Group’s $2.6B Debt Restructuring Named Deal of the Year by The Asian Lawyer – Gibson Dunn

May 5, 2021 The Asian Lawyer has named Duniatex Groups $2.6B Debt Restructuring as Finance Deal of the Year: Insolvency and Restructuring at The Asia Legal Awards 2021. Gibson Dunn advised Duniatex Group on the deal. The transaction was led by Singapore partnersJamie Thomas andTroy Doyle, with assistance from Singapore of counsel U-Shaun Lim, Singapore…

SPH to restructure media business into not-for-profit entity amid falling revenue – CNA

SINGAPORE: Singapore Press Holdings (SPH) will transfer its media business into a not-for-profit entity amid the ongoing challenge of falling advertising revenue, the company announced on Thursday (May 6). The restructuring exercise involves transferring the entire media-related businessof SPH to a newly incorporated wholly owned subsidiary, SPH Media Holdings. Advertisement Advertisement The transfer involves relevant…

Gupta shakes up Liberty boardroom to tackle Greensill fallout – The Australian Financial Review

This restructuring, combined with the continuing strength in steel and iron ore markets, will present a solid basis for the future of Liberty, the statement said. Mr Guptas broader GFG Alliance, which also includes a global aluminium business, an energy business and a property portfolio, had borrowed as much as $6 billion from Greensill Capital.…

RBI extends restructuring benefits to small businesses, individuals – Mint

MUMBAI : The Reserve Bank of India (RBI) on Wednesday allowed banks and non-banks to extend benefits provided to individual customers and small businesses under the covid restructuring framework, which was made available last year. Small businesses and financial entities at the grass-roots level are bearing the biggest brunt of the second wave of infections,”…

RBI Reopens Covid-19 Restructuring Scheme For Retail, Small Business Borrowers – BloombergQuint

The Reserve Bank of India reopened a one-time debt restructuring scheme as the economy braces for the impact of a renewed surge in Covid-19 cases. Retail borrowers and small businesses will be permitted to recast their loans, without being downgraded to non performing category, under the scheme. The one-time restructuring scheme will be available for…