The legislation has introduced new corporate restructuring tools and temporary easements, with the aim of giving distressed businesses the breathing space they need to get advice and seek a rescue. One of its key provisions is the introduction of the new role of a monitor to oversee the corporate moratorium it introduces an extendable 20…
Cirque du Soleil Entertainment Group have filed for bankruptcy after the coronavirus pandemic forced it to close productions around the world.The group, best known for its flamboyant touring circuses, said the coronavirus pandemic had forced it to cancel shows and lay off its artists. The company will now try to restructure while shedding about 95%…
LAS VEGAS (FOX5) — Cirque du Soleil plans to restructure the company and “restart business” by filing for protection against creditors, a company spokesperson confirmed Monday. Due to “immense disruption” caused by the COVID-19 pandemic related to canceled performances and economic hardship, Cirque du Soleil Entertainment Group seeks to settle its debts and “restart business”…
Fox News senior judicial analyst Judge Andrew Napolitano breaks down the Supreme Court’s ruling calling for a restructuring of the Consumer Financial Protection Bureau. WASHINGTON — TheSupreme Courton Monday ordered changes to a government consumer-finance watchdog created in the wake of the 2008 financial crisis, ruling the agency’s structure was unconstitutional because its director held…
by German Press Agency – DPA Jun 28, 2020 10:20 am Lufthansa’s biggest shareholder, Heinz Hermann Thiele, has said restructuring the German airline could take five to six years, in comments to the Bild am Sonntag newspaper published Sunday. It was announced Thursday that the German government will take a 20% stake in Lufthansa, clearing…
by German Press Agency – DPA Jun 28, 2020 10:20 am Lufthansa’s biggest shareholder, Heinz Hermann Thiele, has said restructuring the German airline could take five to six years, in comments to the Bild am Sonntag newspaper published Sunday. It was announced Thursday that the German government will take a 20% stake in Lufthansa, clearing…
The pre-pack administration and company voluntary arrangement are once again taking centre stage as the retail industry enters its next phase of coronavirus survival. In recent weeks, Monsoon Accessorize was bought by its owner, Peter Simon, via a pre-pack administration deal that is likely to result in the closure of half of its stores. AllSaints…
June 26, 2020 02:30 ET | Source: DBV Technologies S.A. multilang-release Montrouge, France, June 26, 2020 DBV Technologies Provides Operational and Business Update BLA review of Viaskin Peanut for the treatment of peanut allergy in children ages 4-11 years ongoing Company to immediately initiate restructuring plan to extend cash runway while awaiting FDA clarity EPITOPE…
A person looks into a closed Macy’s Inc. department store near Union Square in San Francisco, California, U.S., on Thursday, June 18, 2020. Michael Short | Bloomberg | Getty Images Macy’sannounced Thursday it is cutting 3,900 corporate jobs 3% of its total workforce to reduce costs as it struggles with the effects of the coronavirus…
Over 13,000 IBC applications are currently pending in NCLT, where only matters seen as urgent are being heard. With such a large number of cases in pipeline, resolution professionals feel there’s stil TopicsNPA resolution cases|debt resolution|IBC resolution While stressed companies may have got a breather from loan defaults with the suspension of insolvency and bankruptcy…