Congress Moves to Streamline Chapter 11, Help Small Businesses Restructure Debt – ABL Advisor

Restructuring

Congressman Tom Marino along with Representatives Doug Collins (R-GA), and David Cicilline (D-RI) introduced, H.R. 7190, the Small Business Reorganization Act (SBRA). Senate Judiciary Chairman Chuck Grassley (R-IA) and Senator Sheldon Whitehouse (D-RI) introduced companion legislation in the Senate. The bill will streamline existing bankruptcy procedures and provide new tools to increase a small business…

Business in Brief: Restructuring at Crowley Maritime Corp. – Jacksonville Daily Record

Restructuring

Restructuring at Crowley: Jacksonville-based Crowley Maritime Corp. announced Wednesday that it will complete the merger its liner services group into Crowley Logistics on Jan. 1. The business unit will be led by Steve Collar, senior vice president and general manager. Crowley said integrating liner services into logistics was planned as part of a corporate restructuring…

UPDATE 1-China to push zombie firms with “business value” to restructure – Reuters Africa

Restructuring

* Local govts to prepare lists of zombie firms within 3 mths * Firms must draw up restructuring plans within 6 months * Those meeting bankruptcy conditions to be eliminated immediately (Adds detail, background) SHANGHAI/BEIJING, Dec 4 (Reuters) – China will encourage zombie firms that still retain business value to restructure and woo strategic investors…

UPDATE 1-China to push zombie firms with “business value” to restructure – Reuters Africa

Restructuring

* Local govts to prepare lists of zombie firms within 3 mths * Firms must draw up restructuring plans within 6 months * Those meeting bankruptcy conditions to be eliminated immediately (Adds detail, background) SHANGHAI/BEIJING, Dec 4 (Reuters) – China will encourage zombie firms that still retain business value to restructure and woo strategic investors…

Arif Naqvi makes efforts to save Abraaj business, court allows restructuring – Geo News

Restructuring

Arif Naqvi – File photo LONDON: Hopes of a solution have risen after the Abraaj group founder Arif Naqvi made last-ditch efforts to rescue the remaining business of his emerging markets empire and the Cayman Islands agreed to an extension for Abraajs joint provisional liquidators to devise a restructuring proposal over the next three months.…

Dollar Bank Completes Holding Company Reorganization – Business Wire (press release)

Restructuring

PITTSBURGH–(BUSINESS WIRE)–Today Dollar Bank completed its reorganization from a mutual savings bank to a mutual holding company. From this point forward, Dollar Bank operates under a mutual holding company structure with Dollar Mutual Bancorp (a mutual entity without shareholders) owning 100% of the common stock of Dollar Bank, Federal Savings Bank. The reorganization will not…

CWH restructuring to full franchise model – Australian Journal of Pharmacy (blog)

Restructuring

Image by Francisco Anzola https://www.flickr.com/photos/fran001/ Retailing under current regulations is like fighting with one arm tied behind your back, says Chemist Warehouse co-founder Jack Gance Speaking to the Weekend Australians Victorian Business Editor, Damon Kitney, Mr Gance has again denied recent rumours of an Initial Public Offer or float but outlined changes to its ownership…

Laura Ashley in administration once again – Inside Retail

Restructuring

History is repeating itself for the current owners of Laura Ashleys Australian business. After acquiring the fashion and home furniture company in 2016, when then-directorDaryl Chait appointed administrators,the current owners have once again placed the brand into voluntary administration after finding the capital required to revive the brand too burdensome, according to a statement from…