In what has been called an extraordinary case, Valaris$7bn financial restructuring made sizeable waves this week, as firms including Kirkland & Ellis, Slaughter and May and Akin Gump steered it to a successful conclusion. The transaction sees offshore drilling service providerValaris emerge from Chapter 11 after the company filed in August 2020, eliminating $7.1bn of…
SINGAPORE – Singapore Press Holdings (SPH), which publishes The Straits Times and Lianhe Zaobao, intends to transfer its media business to a not-for-profit company as part ofa strategic review of its various businesses. Announcing the move on Thursday (May 6), SPH chairman Lee Boon Yang said the transfer will enable the media business to focus…
Investment banks and other financial advisers are putting the business of fixing troubled companies on the back burner as financial distress stemming from the Covid-19 pandemic diminishes. Instead, advisory firms like FTI Consulting Inc., Greenhill & Co. and Lazard Ltd. , are turning more focus to blank-check companies; mergers and acquisitions; capital raising; and environmental,…
MUMBAI: Reserve Bank of India on Wednesday extended relief to individuals and small businesses who have loans up to Rs 25 crore by allowing them to seek a loan restructuring if they are affected by the second wave of the Covid-19.Announcing a series of steps to ensure financial stability, the central bank also loosened its…
May 5, 2021 The Asian Lawyer has named Duniatex Groups $2.6B Debt Restructuring as Finance Deal of the Year: Insolvency and Restructuring at The Asia Legal Awards 2021. Gibson Dunn advised Duniatex Group on the deal. The transaction was led by Singapore partnersJamie Thomas andTroy Doyle, with assistance from Singapore of counsel U-Shaun Lim, Singapore…
SINGAPORE: Singapore Press Holdings (SPH) will transfer its media business into a not-for-profit entity amid the ongoing challenge of falling advertising revenue, the company announced on Thursday (May 6). The restructuring exercise involves transferring the entire media-related businessof SPH to a newly incorporated wholly owned subsidiary, SPH Media Holdings. Advertisement Advertisement The transfer involves relevant…
This restructuring, combined with the continuing strength in steel and iron ore markets, will present a solid basis for the future of Liberty, the statement said. Mr Guptas broader GFG Alliance, which also includes a global aluminium business, an energy business and a property portfolio, had borrowed as much as $6 billion from Greensill Capital.…
MUMBAI : The Reserve Bank of India (RBI) on Wednesday allowed banks and non-banks to extend benefits provided to individual customers and small businesses under the covid restructuring framework, which was made available last year. Small businesses and financial entities at the grass-roots level are bearing the biggest brunt of the second wave of infections,”…
The Reserve Bank of India reopened a one-time debt restructuring scheme as the economy braces for the impact of a renewed surge in Covid-19 cases. Retail borrowers and small businesses will be permitted to recast their loans, without being downgraded to non performing category, under the scheme. The one-time restructuring scheme will be available for…
The sale of the business sees around 528 staff and 22 partners transferring to Interpath Advisory and will enable KPMG to accelerate its programme of investment in its core audit, tax, deals and consulting services for clients. The professional services firm announced in March that it had sold its UK restructuring business to investment firm…