RSI Announces Resolution to Billing Dispute – GlobeNewswire (press release)

VANCOUVER, British Columbia, Feb. 16, 2018 (GLOBE NEWSWIRE) — RSI International Systems Inc. (TSX-V:RSY) (RSI or the Company) today reported that it has reached an agreement (the Settlement Agreement) to settle a billing dispute with one of its customers, as first reported on November 3, 2017.   RSI President & CEO, Tim Major, commented, Although we…

Fieldwood Energy files for Chapter 11 bankruptcy relief – WorldOil

The Chapter 11 plan of reorganization (the Plan) filed on the “first day” of the case encompasses a comprehensive restructuring of the Company’s balance sheet and an acquisition of significant revenue-producing assets.  Specifically, the proposed restructuring contemplates (a) reducing current debt by approximately $1.6 billion, (b) raising capital of approximately $525 million through an equity…

US private equity firms to acquire Germany’s HSH Nordbank: report – Xinhua

Video PlayerClose BERLIN, Feb. 16 (Xinhua) — U.S. private equity firms Cerberus and J.C. Flowers are poised to acquire the ailing German financial institution HSH Nordbank, local media reported on Friday. Business publication “Manager magazine” cited an informal agreement between the investors and the state governments of Hamburg and Schleswig Holstein that hold the majority…

Barnes Group Inc. Reports Fourth Quarter and Full Year 2017 Financial Results – Business Wire (press release)

BRISTOL, Conn.–(BUSINESS WIRE)–Barnes Group Inc. (NYSE: B), a global provider of highly engineered products and differentiated industrial technologies, today reported financial results for the fourth quarter and full year 2017. Fourth quarter 2017 net sales of $373 million were up 15% from $324 million in the prior year period driven by strong organic sales growth…

Steinhoff appoints Heis to restructure – Independent Online

JOHANNESBURG – Steinhoff International said yesterday that it had appointed Richard Heis as chief restructuring officer for the group as the troubled South African retailer wrestled with the fallout from an accounting scandal.  Steinhoff, whose more than 40 brands include Britains Poundland, revealed accounting irregularities in December, causing an 85% fall in its share price…