Sean Pavone; Shutterstock Frankfurt: German insolvency law is being modernised Top 50 US firm prepares for significant increase in restructuring work as a result of Covid-19 US law firm K&L Gates has hired a three-partner team of restructuring lawyers in Frankfurt in a major addition to its German practice. The seven-strong team has made the…
Atlas Advisors Australia The economic impact of significant falls in migration as a result of COVID-19 could be offset by restructuring the Business Innovation and Investment Program (BIIP), leading wealth manager Atlas Advisors Australia says. Executive Chairman Atlas Advisors Australia, Guy Hedley said an anticipated 85 per cent fall in migration in the 2020-21 financial…
Atlas Advisors Australia The economic impact of significant falls in migration as a result of COVID-19 could be offset by restructuring the Business Innovation and Investment Program (BIIP), leading wealth manager Atlas Advisors Australia says. Executive Chairman Atlas Advisors Australia, Guy Hedley said an anticipated 85 per cent fall in migration in the 2020-21 financial…
Bankruptcies will be an inevitable part of the economic crisis brought on by the coronavirus pandemic, but that same upheaval is complicating the process of unwinding and restructuring businesses that are no longer viable. Lawyers and bankers tasked with restructuring firms or helping companies file bankruptcy proceedings say this situation, along with government aid, might…
In this article, we consider the new Subchapter V of Chapter 11, which is open to small businesses with under $7.5 Million in debt. With minimal fanfare, the Small Business Reorganization Act (SBRA) was passed in August 2019, to come into effect in February 2020, ushering in Subchapter V of Chapter 11. Nobody could have…
JAKARTA (Reuters) – National flag carrier Garuda Indonesia will seek to restructure $500 million of Islamic bonds due to mature next month, the deputy of the state-owned enterprises ministry said on Friday. “We plan to ask for restructuring of the maturing global sukuk,” Kartika Wirjoatmodjo said via text message. “We have engaged with an adviser,…
Deutsche Bank shares declined for a second day after analysts and investors expressed scepticism about the lenders ability to reach profit targets and implement a huge restructuring plan. The troubled German lender was down 5.5 per cent at 6.41 as in Frankfurt trading as of 10.55am, bringing the drop since Monday to more than 10…
SANTA ANA, Calif.–(BUSINESS WIRE)–Stearns Holdings, LLC (Stearns or the Company), the parent company of Stearns Lending, LLC, a leading provider of residential mortgage lending services in Wholesale, Retail and Strategic Alliances sectors, today announced that it has reached an agreement with its majority equity holder, funds affiliated with Blackstone (Blackstone, NYSE: BX), on the terms…
Deutsche Bank to cut 18,000 jobs Deutsche Bank has been the big story of the morning, as a new week starts to the news that the struggling German bank will cut a colossal 18,000 jobs in a bid to become profitable once again. Much of this can be attributed to the shift out of the…
Hundreds of City workers are fearing for their jobs after Deutsche Bank, the global bank that is one of the Square Miles largest employers, said it plans to axe 18,000 staff worldwide in the latest attempt to revitalise its reputation and business. The layoffs, equivalent to 20% of the banks workforce, come after chief executive…