Drake & Scull International (DSI) has announced that it has successfully completed its capital restructuring program which started at the beginning of the fiscal year. The company also welcomed a AED500 million ($136.1 million) investment by Tabarak Investment which will enable DSIs new leadership to move forward with its operational plans. DSI said it plans…
BLOOMINGTON State Farm plans to let some local employees go, but will continue to have the same number of workers in Bloomington-Normal while restructuring its information technology department over the next year. “Job reductions will begin by offering a severance payment to certain employees who voluntarily elect to leave the company. We are uncertain how…
APPLETON, Wis., Oct. 3, 2017 /PRNewswire/ — Appvion, Inc. (the “Company”) today announced that it has received approval from the United States Bankruptcy Court for the District of Delaware of all of the first day motions related to its Chapter 11 filing. Collectively, the orders issued by the Bankruptcy Court will help ensure that the Company continues…
“We remain focused on operating our business as usual and serving our customers’ needs as we continue constructive discussions with our lenders on an expedited restructuring and emergence,” said Kevin Gilligan, Chief Executive Officer of Appvion. “The approval of our first day motions transitions us smoothly into our restructuring process, from which we expect to…
Tuesday, October 03, 2017 Press release from the issuing company Discussions Continuing with Lenders on Plan for Expedited Restructuring and Emergence Appleton, Wis. – Appvion, Inc. (the Company) today announced that it and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy…
The saying goes: Theres no point crying over spilt milk. But what about when your company is facing a restructure? In our experience, a restructure is a breeding ground for chaos if you dont take charge. Here we examine some of the challenges you might face. Expect the unexpected Weve seen first-hand the challenges that seem…
Dubais Drydocks World has returned to the courts to push through a $2.1bn debt restructuring, clearing the path for the troubled ship-repair business sale to a sister company, DP World, the emirates port operator. The maritime engineering business, a unit of the government-owned Dubai World conglomerate, in 2012 had to use bespoke insolvency legislation to…
SEATTLE–(BUSINESS WIRE)–Due to reduced expectations for single family loan origination volume in the Mortgage Banking segment, HomeStreet, Inc. (Nasdaq:HMST), parent company of HomeStreet Bank, today announced a restructuring of that segment, including: A reduction in force of 60 full time equivalent employees HomeStreet Banks second reduction in force this year in its Mortgage Banking segment,…
CLEVELAND, Oct. 2, 2017 /PRNewswire/ — McDonald Hopkins LLC has announced the election of four attorneys to the firm’s membership. McDonald Hopkins, with offices in Cleveland, Columbus, Detroit, Chicago, West Palm Beach and Miami, named Alexa Guevara (West Palm Beach), Joshua Gadharf (Detroit), Jason Harley (Columbus) and Ilirjan Pipa (Cleveland) members, effective October 1, 2017. “This…