Earlier this year liquidators were told to gear up for what could be the busiest period ever as the toll of the COVID-19 pandemic was expected to wreak havoc on businesses of all sizes. But now despite being in a recession, unprecedented government interventions mean company insolvencies have slowed to a trickle. Andrew Fielding laughs…
September 22, 2020 13:23 ET | Source: TECHNICOLOR multilang-release PRESS RELEASE SUCCESSFUL COMPLETION OF THE FINAL STEPS OF THE FINANCIAL RESTRUCTURING OF THE COMPANY Paris (France), 22 September2020 Technicolor (EuronextParis: TCH; OTCQX: TCLRY) (Technicolor or the “Company“) is pleased to announce the successful completion of the final steps provided for in the accelerated financial safeguard…
Like many jurisdictions, the US has seen a surge in bankruptcy filings amid the Covid-19 pandemic. Retailers already burdened by unfavourable lease obligations and a general shift in consumer preference to e-commerce have borne the brunt of the crisis. In the first two quarters of 2020, nearly 20 major retailers sought Chapter 11 protection in…
(Bloomberg) — Abu Dhabi-based KBBO Group, once one of NMC Health Plcs biggest shareholders, has hired a turnaround specialist to restructure its $2 billion debt pile, people familiar with the matter said. The privately-held investment firm with assets in health care and food named Bruno Navarro as its chief restructuring officer, the people said, asking…
Pandemic allows firms time to restructure Focus on consolidation, M&A Large companies are taking advantage of the economic slowdown and the outbreak to restructure their businesses, aiming to prioritise consolidation or mergers and acquisitions (M&A), both locally and abroad. Funding for the deals depends on a company’s financial status, and includes using operating cash flow,…
Deloitte UK has been forced to drop plans to sell its restructuring practice after its global parent company vetoed the disposal on the grounds that it could have an adverse impact on the rest of the firm, according to three people with knowledge of the matter. The Big Four accounting firm held a call with…
September 18, 2020 14:00 ET | Source: Denbury Inc. Emerges from Chapter 11 Well-Positioned for Long-Term Success Moves Forward as Stronger Business With Significant Financial Flexibility PLANO, Texas, Sept. 18, 2020 (GLOBE NEWSWIRE) — Denbury Inc. (NYSE: DEN) (Denbury or the Company) today announced that it has successfully completed its financial restructuring and emerged from…
Thai Airways request for debt restructuring as part of bankruptcy proceedings was approved by a bankruptcy court on Monday. Earlier this year, the national airline was seeking a 58.1 billion baht ($1.81 billion) loan from the government to help it through the coronavirus crisis. Thai officials told the airline to come up with a restructuring…
By Andrie Kypridemo As if the haircut on deposits required for the bail-in of banks in March 2013, and the credit constraints that brought Cyprus businesses to their knees, werent enough, just 7 years after another black March dawned further financial constraints came from Covid-19 measures. Having reduced their operations to the very minimum or…
Fox News Media said that it was restructuring some of its divisions, with a reduction of its workforce by less than 3%. As Fox News Media has evolved into a streamlined multi-platform organization, we are realigning several functions and restructuring various divisions in order to position all of our businesses for ongoing success, the network…