Scores of ‘zombie companies’ have been kept alive in order to receive final government stimulus measures before being shut down, according to a leading insolvency expert. Revive Financial partner Jarvis Archer said the “clean up” of zombie companies was under way with an increase in liquidation appointments across a range of industries. A ‘zombie company’…
Houston-based Diamond Offshore Drilling has emerged from chapter 11 after completing a financial restructuring. Diamond Offshore had been working on the restructuring since filing for chapter 11 in April 2020. The company has merged with a reduction of over $2.1bn of debt after the equitization of senior unsecured note obligations. It also has over $625m…
HOUSTON, April 26, 2021 /PRNewswire/ –Diamond Offshore Drilling, Inc. (“Diamond” or the “Company”) announced today that, on April 23, 2021, it and its debtor affiliates emerged from their chapter 11 process after successfully completing a financial reorganization pursuant to their joint plan of reorganization. The restructuring significantly delevers the Company’s balance sheet and provides substantial…
26 April 2021 Consultancy.eu 2 min. read Global strategy consulting firm Roland Berger has added three new partners to its Restructuring practice in Germany and France. In France, Roland Berger admitted the 48-year-old Benot Hochet into its Paris partnership. Appointed a partner and co-head of the French Restructuring, Performance & Transformation practice, Hochet has ben…
Personal Finance Simple restructuring tips during recession Monday April 26 2021 By CATHY MPUTHIAMore by this Author Summary During this time of economic recession, businesses need every sound financial management strategies to survive. Covid restrictions and the economic recession necessitate some businesses to undergo some forms of restructuring to survive. Corporate restructuring involves a major…
Small Caps | 12:28 PM This story features ACCENT GROUP LIMITED. For more info SHARE ANALYSIS: AX1 Accent Group has stepped into apparel, taking on the challenge of reinvigorating a struggling retail operation -Potential for upside from a small investment-Time-consuming restructure of Glue Store likely-Not without risks By Eva Brocklehurst In the pursuit of growth,…
With a new national operations centre and eyes on international dominance, Ballarat-based PETstock is leveling up. The business is restructuring, with a rebrand for the newly-formed parent company, and a significant amount of new investment boosting growth following a turbulent but ultimately successful pandemic year. The new moniker, Petspiration Group, will cover each of the…
Sydney, April 22, 2021 (GLOBE NEWSWIRE) — Gordon Brothers and Ritchie Bros. have created a formal joint venture, the Gordon Brothers & Ritchie Bros. Alliance. The Alliance provides end-to-end asset advisory and asset remarketing services to the insolvency and restructuring market in Australia and South East Asia. The new Alliance will generate superior outcomes forclients,…
Loxley Plc is planning to push forward and achieve consecutive growth after completing a two-year business restructuring task which saw it cut 40 underperforming firms and form seven core companies. Suroj Lamsam, Loxley president and chief executive officer, said the firm experienced a positive turnaround last year with a better bottom line after experiencing several…
Hertz Global Holdings Inc. agreed to provide some value to equity holders when it leaves chapter 11, vindicating the individual traders who have insisted the company is worth something despite its bankruptcy filing. Hertz proposed in a chapter 11 exit plan on Wednesday that current stockholders receive warrants to purchase up to 4% of the…