A passerby walks past a closed Hertz car rental shop on May 23, 2020 in Paris. Edward Berthelot/Getty Images Hertz said Thursday its restructuring plan has been confirmed by court and it is set to exit bankruptcy on June 30. The exit paves the way for creditors to be paid in full and existing shareholders…
Law360 (June 10, 2021, 5:43 PM EDT) — Willkie Farr & Gallagher LLP announced it has hired an attorney from DLA Piper who has significant experience helping clients with investments and debt reorganizations and will be the first finance and restructuring partner based in the firm’s year-old Chicago office. Melainie Mansfield joined Willkie’s business reorganization…
The 80 workers currently on strike at General Mills factory, in the western Sydney suburb of Rooty Hill, are facing a dual offensive. The company is seeking to impose sub-inflation wage increases and cuts to overtime payments, and the United Workers Union (UWU) is doing everything in its power to isolate the stoppage and prepare…
EAST GREENWICH, R.I., June 10, 2021 /PRNewswire/ –Alex and Ani, LLC (“Alex and Ani” or the “Company”), creators of the iconic charm bangle and affordable meaning based jewelry, today announced that in continuation of its efforts to stabilize its business, the Company has entered into a Restructuring Support Agreement (“RSA”) with its debt holders and…
Indonesias embattled flag carrier Garuda has revealed the dire extent of its downsizing of operations as it urgently seeks to restructure its business and stem losses, and may need to consider a future largely focused on domestic flying. Garuda currently operates just 53 aircraft of its fleet of 142, it says in a response to…
MMTC announced that pursuant to outstanding existing financial assistance/credit facilities Restructuring Scheme approved by Banks of MMTC in terms of above RBI guidelines, the Board of Directors of the company approved the Implementation and Signing of necessary documents in this regard on 8 June 2021. State Bank of India is the lead Banker. Under this…
The largest private healthcare provider in the UAE ran into trouble last year after the disclosure of more than $4 billion in hidden debt. Healthcare provider NMC has reached a restructuring deal with creditors that will allow lender to take control the UAE firm. A statement issued by the healthcare group said the agreement will…
The author is an analyst of NH Investment & Securities. He can be reached at [email protected]. — Ed. With the NPS having decided to expand ESG investments to 50% of total assets, the size of publicly offered funds focused on ESG stocks in Korea is growing rapidly. The final corporate governance restructuring is underway ahead…
MINNEAPOLIS General Mills, Inc. is restructuring its business structure to capitalize on opportunities around digital, data and technology, and e-commerce, according to the company. While the exact details of the restructuring have not been publicly announced, it may entail the elimination of staff and the sale of properties. To be clear, this is not simply…
A major Dubai property investment fund is in the spotlight after its lenders blocked a debt restructuring plan and raised “serious concerns” about its transparency and governance. Dubai-based Emirates REIT was forced to withdraw a restructuring proposal for its $400 million dollar Islamic bond after a rare campaign of investor activism something not commonly seen…