The High Court of England and Wales has recognized Singapores new moratorium law for companies unable to pay their creditors. The ruling is positive for debt workouts across different jurisdictions and a boost to the city-states ambition to become Asias debt restructuring hub. Rajah & Tann Singapore and the London office of US law firm…
By World Oil Staff on 5/13/2019 Photo: Weatherford President and CEO Mark McCollum. HOUSTON One of the worlds largest oilfield services companies filed for Chapter 11 Bankruptcy protection on Friday, and the move may finally give Weatherford International plc enough room/time to turn around its struggling operations. The firm announced…
Laxman Pai May 13, 2019 Image: Weatherford International Irish-domiciled multinational oil and natural gas service company Weatherford International has entered into an agreement with its top creditors that will allow the company to file for a “prepackaged” Chapter 11 bankruptcy – after more than four years without making a profit. Weatherford expects…
() has entered into an agreement to sell part of its Infusion business to a subsidiary of BTC Health Ltd () for $6.3 million. This will complete the first phase of the Infusion business divestiture. Completion of the sale is subject to certain conditions being satisfied with the sale expected to complete in…
Australian coal producerTerraCom (ASX:TER)has rolled out a A$63 million (about $44m) restructuring plan, consisting of a A$35-million capital raise and a $20-million convertible bond to support its growth ambitions. The company, which has two operating mines in Queensland and Mongolia, is launching a fully underwritten entitlement offer priced at 58c per share to raise an…
Debenhams redesigned beauty hall in its new-look Watford store Debenhams is set to embark on a store closure and business restructuring programme after it won backing from its landlords for a CVA programme that will see it close 22 stores next year. The vote to approve the CVA arrangements was passed yesterday by more than…
Debenhams redesigned beauty hall in its new-look Watford store Debenhams is set to embark on a store closure and business restructuring programme after it won backing from its landlords for a CVA programme that will see it close 22 stores next year. The vote to approve the CVA arrangements was passed yesterday by more than…
U.S. database giant Oracle Corp. is downsizing its China-based research and development team with hundreds of job cuts as the company seeks to reposition its business and expand further into cloud computing. Oracle announced a restructuring plan focusing on its China R&D operation on a company conference call Tuesday. The plan will involve job cuts…
Image: TerraCom Resources Latest News Coal miner TerraCom Resources has rolled out a $63 million restructuring plan that will support its growth ambitions. TerraCom is launching a fully underwritten offer that will firstly fetch around $35 million. The company has furthered its restructuring effort by agreeing to a $US20 million ($28 million) convertible bond with…
A little-known UK advisory firm stands to make about $27m from the restructuring of Barbadoss $7bn of debts close to what Lazard earned seven years ago when it advised Greece on defaulted debt nearly 40 times bigger. White Oak Advisory is a small firm with just two partners located opposite Claridges hotel in Londons Mayfair.…