Introduction Ordinary moratorium COVID-19 moratorium Introduction A moratorium under the Debt Enforcement and Bankruptcy Act is a standstill period granted by a court for a company going through financial hardship to assess whether it can enter composition proceedings or go bankrupt. Originally, unlike in other jurisdictions, the purpose of a moratorium in Switzerland was not…
Calisen announced plans for a restructuring of its Lowri Beck business unit on Thursday, in a bid to make it a leaner, more efficient and sustainable business. The London-listed firm described Lowri Beck as a capability-enhancing acquisition, which it made last August, to enable it to provide meter installation services to the growing independent energy…
While I was the head of the Corporate Finance Department at National Finance (now known as Thanachart Bank), I handled many cases of debt restructuring. The largest one was the 20-billion-baht debt of a hospital chain. Much like Thai Airways, creditors had to determine which has more value: liquidating assets or keeping the business running.…
Cricket Australia will cut 40 staff and slash executive pay as part of a restructuring effort to shore up finances hit by the coronavirus pandemic, the board said on Wednesday. The cost-cutting measures, which also include the suspension of international tours for lower-tier and junior teams, will save the board up to A$40 million a…
Lipow Oil Associates President Andy Lipow discusses OPEC+ cutting nearly 10 million barrels of oil per day through July and demand amid coronavirus recovery. Oilfield services provider Schlumberger NV expects to book a charge to earnings of up to $1.4 billion for an accelerated restructuring and new job cuts, Chief Executive Officer Olivier Le Peuch…
Leslie Levinson is co-chair of the firm’s Transactional Health Law Group and a member of both the Health Law and Business Transaction Groups. He has represented private and public businesses throughout his more than 30-year career. Although Les maintains an active business law practice, he concentrates on the transactional, regulatory, and compliance representation of health…
A restructuring plan at oil-field services giantSchlumbergeris expected to cost more than a billion dollars as the company lays off more workers and further writes down the value of its assets Schlumberger is aligning its 17 product lines into four divisions and restructuring its global organization around five oil producing areas. The reorganization and other…
John Holland, the Australian contractor owned by the China Communications Construction Company (CCCC), has announced jobs cuts and a restructuring of its divisions in the wake of a US$40m loss for 2019. The company has created a major projects division to handle jobs worth more than $1bn, and has hired former Carillion managing director Mark…
Careys to restructure as pandemic hits turnover – New Civil Engineer 16 Jun, 2020 By Catherine Kennedy Carey Group is to begin restructuring its business to cut costs and staff, with turnover falling as a result of theCovid-19 pandemic. You have read 1 of 1 free-access articles allowed for 30 – days. For further access…
June 15, 2020 07:00 ET | Source: African Gold Group, Inc. Danny Callow appointed as President and Chief Executive Officer; Scott Eldridge appointed as Non-Executive Chairman of the Board; Jan-Erik Back appointed as Vice-Chairman, Strategy of the Board; John Begeman appointed as Lead Independent Director of the Board; and Proposed change of name to Avion2…