Boom Time for Busts | Asian Legal Business – Legal Business Online

The successive defaults of large companies such as Boashang Bank, Yongmei Group, Huachen Automotive and Tsinghua Unigroup recently sent shockwaves across the market. Restructuring lawyers discuss the defaults, how they feel the Chinese government will ensure orderly bankrupt At the start of 2020, bankruptcy and restructuring experts had predicted more bond defaults in China. A…

Restructuring in the automotive sector Financier Worldwide – Financier Worldwide

The automotive industry, globally, faced significant challenges before the onset of the coronavirus (COVID-19) crisis. On the eve of the pandemic, original equipment manufacturers (OEMs) were preparing for major change and the attendant disruption, as the transition to electric vehicles began to gain pace. Online searches in the UK doubled overnight, for example, when the…

Luckin Coffee Enters into Restructuring Support Agreement with Holders of a Majority of Existing Notes to Restructure Indebtedness and Enhance Capital Structure – GlobeNewswire

March 16, 2021 08:00 ET | Source: Luckin Coffee Inc. Noteholders are Expected to Receive Approximately 91-96% of the Par Valueof the Existing Notes Luckin Coffee Maintains Strong Liquidity Position and Continues to Execute on Growth Strategy Company Actively Pursuing Several Options to Achieve Certainty of Funding BEIJING, March 16, 2021 (GLOBE NEWSWIRE) — Luckin…

Cicis Successfully Completes Restructuring – PRNewswire

IRVING, Texas, March 15, 2021 /PRNewswire/ –Cicis announced today that it has successfully emerged from Chapter 11 protection, swiftly completing the process in less than two months. The reorganization, which has strengthened the corporate team, company operations and financial structure, coincides with the simultaneous D&G Investors acquisition of the brand. Cicis Enterprises entered into an…

Virgin Active warns of collapse if creditors block restructuring plan – Sky News

Nearly 2,500 jobs are at risk if Virgin Actives British creditors block a restructuring of the gym chain part-owned by Sir Richard Branson. Sky News has learnt that the company is drawing up contingency plans to appoint administrators by early June unless it convinces lenders and landlords to support a wide-ranging restructuring. In documents circulated…

Caution Over Treasury Wines’ Restructure – FN Arena News

Australia | 10:56 AM A divestment process in the Americas has started as Treasury Wine aims for a leaner, more profitable business, but where will growth come from? -Cautious reaction given lack of detail on further restructuring-Significant uncertainty around volumes previously destined for China-Takeover speculation continues By Eva Brocklehurst Treasury Wine Estates ((TWE)) has commenced…

Norwegian files restructuring plan to courts | News | Flight Global – Flightglobal

Low-cost carrierNorwegianhas sent its plan for financial restructuring to the Irish andNorwegiancourts, as it seeks permission from creditors and shareholders to continue the remodelling of its business and initiate a capital raise. The examiner in Ireland will now present proposals for the restructuring based on the plan, which will then be passed to the Irish…