PLANO, Texas–(BUSINESS WIRE)–J. C. Penney Company, Inc. (OTCMKTS: JCPNQ) today announced that it is aligning its workforce with its store optimization strategy and reduced store footprint. JCPenney has identified 152 store closures following a comprehensive evaluation of store performance and strategic fit for the Company and is having ongoing productive negotiations with landlords. Todays announcement…
NQ Minerals Plc NQ Minerals USD 41 million Debt Restructuring with ING Bank London, United Kingdom – July 16th, 2020 – NQ Minerals Plc (AQSE:NQMI, OTCQB:NQMLF, OTCQB:NQMIY) (“NQ” or the “Company”) announces that ING Bank N.V. (“ING”), a leading global resources bank, has today committed to provide NQ with a USD 41 million banking refinancing…
Luckin Coffee has called in liquidators to oversee a corporate restructuring and negotiate with creditors to salvage its business, less than four months after shocking the market with a US$300 million accounting fraud. The start-up company named Alexander Lawson of Alvarez & Marsal Cayman Islands and Tiffany Wong Wing Sze of Alvarez & Marsal Asia…
Samantha Findley will take the role of director, special situations in Australia. She is reported to have more than 15 years experience as a workout banker, restructuring and insolvency professional and client adviser. In her new role, Ms Findley will be responsible for steering clients through restructuring programs and portfolio management. Tim Stewart, head of…
Elizabeth Vulaj, licensed Attorney in New York and New Jersey discusses the many recent Chapter 11 bankruptcy filings of large retail clothing stores and the recently updated Chapter 11 process for small businesses that is playing out amid the COVID-19 pandemic With each passing day that the coronavirus pandemic wears on, there are new statistics…
Doosan Infracore Co. Ltd., a Korean machinery manufacturer, has successfully issueddollar-denominatedbonds worth $300 million despite concerns that the company may be sold off as part of the corporate restructuring ledby parent company Doosan Group. The company was able to secure enough demand for the three-year maturity bonds backed by state-run Korea Development Bank (KDB). Doosan…
Methodology The Global Elite Thought Leaders are those individuals who received the highest number of nominations from peers, corporate counsel and other market sources this year. Our research has identified them as truly outstanding practitioners and the very best in their field. Whos Who Legal does not list firms, only individual experts. The leading firms…
Westpac has ended a near six-month job search to replace its chief financial officer by appointing KPMG partner Michael Rowland to the top role. Mr Rowland will take up the position later this year, closing a recruitment drive sparked by Westpacs 2019 AUSTRAC scandal that thrust then CFO Peter King to take helm of the…
Wirecards Australian and New Zealand businesses were officially placed in voluntary administration yesterday afternoon. Around 70 local and Kiwi staff were notified of the decision following the appointment of Andrew Fielding and Nicholas Martin from BDO Business Restructuring as administrators of the Australian operation. Melbourne staff were told that BDO would make an assessment on…
Embattled ZenRock Commodities Trading was granted judicial management yesterday, but the judicial managers have noted that any restructuring of the firm, which is under investigation by the Commercial Affairs Department (CAD), would “at best preserve only a fraction of its business”. KPMG Services’ Martin Wong, Bob Yap and Toh Ai Ling, who were confirmed as…