Pele Mountain Resources Inc * Pele mountain provides business update * Provided business update on co’s capital restructuring, its decision to proceed with non-binding LOI announced on June 1 * Engaged with significant creditors regarding capital restructuring, potential ‘equity for debt’ conversion; got supportive responses * Expects to enter definitive agreement with Enirgi Group, provide…
Mumbai, Jul 5 () Embattled businessman Jignesh Shah promoted Atom Technologies will no longer issue pre-paid cards as it has surrendered its licence as a payment system operator to RBI citing business restructuring. However, the company will continue to remain operational in other verticals like merchant aggregation and payment services across various channels like point…
True Religion’s denims have fallen out of style. True Religion U.S. denim retailer True Religion Apparel Inc said on Wednesday it filed for bankruptcy protection and signed a restructuring agreement with a majority of its lenders. True Religion, a company whose denims have gradually fallen out of style, filed for creditor protection under Chapter 11…
MUMBAI: The clock has started ticking for Jyoti Structures, the first of the 12 large defaulters against which banks have proceeded under the under the Insolvency and Bankruptcy Code following directions from the Reserve Bank of India. The National Company Law Tribunal (NCLT) on Tuesday admitted bankruptcy proceedings against the Mumbai-based company, a move which…
Chinas debt-laden Huishan Dairy said its debt restructuring advisor has proposed grouping the businesses of the company and selected assets of its chairman Yang Ka and his own ventures together to form a new entity held by some of its creditors, shareholders and management. It is the first time that Chinas largest dairy farm operator…
Samsung, one of the largest electronics company in the world, was forced to reduce its global workforce due to the restructuring of its business operations in China, based on company data. The data shows that the electronics giant has reduced the number of its employees in 2016 by 5.2 percent, from 325,677 down to 308,745.…
A business model where property portal Domain is the prize and newspapers the problem is among the reasons two equity firms may have soured on a multi-billion dollar takeover of Fairfax Media, analysts say. Rival bidders TPG and Hellman & Friedman both ended their interest in bidding for Fairfax at the weekend, with no reason…
Michael Chanter, Thomas Duryea Logicalis Thomas Duryea Logicalis has posted $126 million in revenue for the 2017 financial year in its first full-year report since the merger of Thomas Duryea Consulting and Logicalis Australia, and reported a $1.4 million profit for the year ending 28 February. The results marks a big turnaround from the…
TPG Capital and Hellman & Friedman may have walked away from Fairfax Media, but Morgan Stanley remains bullish on the publisher’s prospects. Analyst Andrew McLeod has kept his $1.50 share price target for Fairfax, which is well above the bid of both US-based private equity firms. Less bullish are Citi’s David Kaynes, with a price target of…
Uranium miner Paladin Energy, which at its peak was one of WAs most valuable companies, has lost its battle to stay afloat after creditor Electricite de France demanded repayment of a $277 million ($A370 million) debt. The company announced late today its directors had appointed KPMG partners Matthew Woods, Hayden White and Gayle Dickerson as…