The ruling focused on whether dissenting shareholders were out of the money, as claimed by the creditors in favour of the plan. If they were not, then they had a genuine economic interest in the company and the impact of the most likely alternative course of action did not need to be immediately quantifiable to…
BEIJING (BLOOMBERG) – Chongqing Sincere Yuanchuang Industrial, a cash-strapped Chinese developer owned by Singapore’s richest property family, may undergo a court-led restructuring after a bankruptcy application was filed against it, according to sources familiar with the matter. Sincere Property Holdings, the second-largest shareholder of Chongqing Sincere, is preparing to work with stakeholders and creditors on…
HOUSTON–(BUSINESS WIRE)–Adam K. Joseph, Managing Director of MACCO Restructuring Groups Las Vegas, Nevada office (MACCO) has become the President of the Nevada Chapter of the Turnaround Management Association (TMA). The TMA is a professionally diverse organization with almost 10,000 members worldwide in 54 Chapters whose focus is corporate restructuring, renewal, and corporate health. The Nevada…
But Mr Greensill, who also refused to appear before the business committee, has acknowledged offering future receivables programs to clients. The committee had asked Mr Greensill to answer written questions on the nature of the schemes but is yet to release his response. The UKs Serious Fraud Office is investigating suspected fraud at GFG Alliance…
Opus Restructuring & Insolvency has appointed George Dale as its new partner in Scotland. The company established an initial presence in the country with the appointment of Mark Harper as partner earlier this year. Dale will open an office at 23 Melville Street, Edinburgh, later this month, with a view to developing the firm’s restructuring…
As businesses learn to cope with the pandemic, investors can look to restructure their Vietnam operations to adapt and go beyond the health crisis. Businesses can take a number of actions to such as modifying their debt exposure, liabilities, and operations to limit financial harm and improve business viability. Vietnam Briefing explores some of these…
ANALYSIS/OPINION: Serafim Sotiriadis & Associates is an Athens-based law firm, specializing in commercial law, insolvency law, business restructuring and recovery. It was the first law firm in Greece to successfully submit and ratify a rehabilitation agreement – a document that has served as a reference point for the Rehabilitation Mechanisms (106b and 106d of the…
KPMG restructuring spin-off Interpath has held early-stage talks with US restructuring business Conway MacKenzie in a bid to grow its international capabilities. Interpath broke away from KPMG UK in May in a management buyout backed by private equity firm HIG. Interpaths chief executive Blair Nimmo told Financial News that the firm had held exploratory discussions…
Dukang Distillers has completed its restructuring with the acquisition of a kiwi fruit business, disposing of its existing liquor business For this reason, it will take on a new name to reflect the change. Yesterday, Dukang announced that it will be renamed China Shenshan Orchard Holdings. The firm stated that revenue and net earnings of…
The author is an analyst of NH Investment & Securities. He can be reached [email protected]. — Ed. A turnaround is on the horizon for NewFlexs main FPCB business, thanks to weakening market competition and restructuring effects. With NewFlex supplying its PCBs for use in Oculus devices, the firm is also set to benefit from expansion…