Category Archives: Restructuring

ShangPharma Announces Strategic Corporate Restructuring of Shanghai ChemPartner – Yahoo Finance

SHANGHAI , March 24, 2017 /CNW/ — ShangPharma, a leading life science partnering organization providing high-quality and cost-effective drug development and discovery services, technology, and investment for the pharmaceutical and biotechnology industry, announced today the intent for a strategic corporate restructuring. ShangPharma will be consolidating the Contract Research Organizations (CRO) and Contract Manufacturing Organizations (CMO)…

Smiths Group boosted by sterling weakness and restructuring – Financial Times

The weak pound boosted half-year revenues at Smiths Group, while moves to improve focus at the sprawling FTSE 100 engineering conglomerate led to better underlying profits. A lower sterling exchange rate meant an 18 per cent jump in revenue to £1.62bn in the six months to the end of January, although the figure was flat…

Samsung Backs Away From Planned Corporate Restructuring – NDTV

The world’s biggest smartphone maker Samsung, assailed by a shambolic recall and embroiled in South Korea’s wide-ranging corruption scandal, on Friday backed away from a planned corporate restructuring. Following the embarrassing recall of the Galaxy Note 7 smartphone and under pressure from activist shareholders to improve corporate governance, Samsung Electronics said last year that it…

Blue Inc creditors vote through restructuring deal – Belfast Telegraph

Creditors of struggling retail chain Blue Inc have voted through a restructuring deal that is likely to see a number of store closures. The company instructed Begbies Traynor to undertake a company voluntary arrangement (CVA), a process that allows it to have its rents reduced and to jettison underperforming stores. Begbies did not disclose how…

Nufarm’s fortunes rebound after restructure costs – ABC Online

Related Story: Nufarm pushes profits up despite expensive restructure and tough agricultural conditions Australian agricultural chemical firm Nufarm has announced a massive turnaround in its fortunes after experiencing a heavy loss in 2015 due to significant restructure costs. The company made $20 million after tax in the six months to February,…

IRIS announces corporate restructuring plan – Planet Biometrics

Malaysian identity solutions firm IRIS Corporation Berhad (IRIS) has formulated a corporate restructuring plan. In a statement, the company said the plan aims to deliver sustainable, profitable sales growth and long-term value creation for shareholders. The plan was discussed with Felda Investment Corporation (FIC), which is holding 21.33% shares in IRIS, and the Felda Board at the request…

SquareTwo Financial Announces Portfolio Asset Sale To Resurgent Holdings And Court Supervised Business … – PR Newswire (press release)

To facilitate the transaction in an expedient manner, today SquareTwo and its affiliates filed voluntary chapter 11 petitions in the United States Bankruptcy Court for the Southern District of New York. SquareTwo will also be filing for recognition of the U.S. chapter 11 proceedings under Part IV of the Companies’ Creditors Arrangement Act in the…

Sasfin to restructure business – Moneyweb.co.za

Companies and Deals Credit losses, impairment weigh on interim results. Roland Sassoon, group chief executive officer, Sasfin Bank. Sasfin Holdings aims to separate its diversified business into three distinct businesses Banking, Wealth and Capital by mid-year, after a tough interim period.   The group reduced its dividend for the six months to December 31 2016, by…

Dairy Industry Restructuring Amendment Bill introduced – Scoop.co.nz

Restructuring pros tapped as nuclear biz meltdown threatens to sink Toshiba – Australasian Lawyer

Westinghouse Electric has hired Weil Gotshal & Manges as the companys troubles threaten to push Toshiba, one of Japans most storied conglomerates, over the brink. The bankruptcy and restructuring specialist law firm was brought in after Toshiba wrote off about A$8.2bn last month because of Westinghouse, Reuters reported. The writedown pushed Toshiba into negative…