Category Archives: Restructuring

Force 10 Partners Tapped to Restructure CarbonLite, a Leading Supplier of Recycled Content in Plastic Water Bottles – PRNewswire

IRVINE, Calif., March 18, 2021 /PRNewswire/ –CarbonLite Holdings, LLC has retainedForce 10 Partners to lead its restructuring effort, following its voluntary bankruptcy filing on March 8, 2021. Force 10 Co-founder Brian Weiss is serving as chief restructuring officer. The Force 10 team is focusing on the post-bankruptcy emergence of CarbonLite, one of the world’s largest…

Restructuring firm moves into Scottish market with Glasgow office – Insider.co.uk

A restructuring and insolvency business has moved into the Scottish market with the opening of its first Scottish office in Glasgow. Opus Business Advisory Group has poached local insolvency and restructuring specialist Mark Harper from Wylie & Bisset to lead the Scottish office. The expansion makes Glasgow its 11th base, in addition to Bristol, Maidstone,…

Capita shares jump on restructuring plan – Shares magazine

Shares in unloved support services provider Capita (CPI) climbed 7% to 49.5p after the firm unveiled a major restructuring plan involving large asset sales along with its full year results. RESULTS IN LINE The results themselves were in line with the expectations the firm set out at the half-year stage, with reported revenues down 10%…

Activision Blizzard Esports Restructuring, 50 Employees Face Layoffs – The Esports Observer

Activision Blizzard Esports today will announce a restructuring that will result in the layoffs of about 50 people, moves that top executive Tony Petitti says are a result of how the group has had to re-invent itself amid the coronavirus pandemic. In an interview this morning with SBJ/TEO, Petitti didnt divulge specifics on what roles…

Capita chief to unveil restructuring and £400m disposal plan – Sky News

The chief executive of Capita will on Wednesday unveil a fresh restructuring of the embattled outsourcer alongside a plan to raise 400m from a string of disposals. Sky News has learnt that the company, which is responsible for collecting the television licence fee and recruiting Army personnel, will announce alongside annual results that it will…

Boom Time for Busts | Asian Legal Business – Legal Business Online

The successive defaults of large companies such as Boashang Bank, Yongmei Group, Huachen Automotive and Tsinghua Unigroup recently sent shockwaves across the market. Restructuring lawyers discuss the defaults, how they feel the Chinese government will ensure orderly bankrupt At the start of 2020, bankruptcy and restructuring experts had predicted more bond defaults in China. A…

Restructuring in the automotive sector Financier Worldwide – Financier Worldwide

The automotive industry, globally, faced significant challenges before the onset of the coronavirus (COVID-19) crisis. On the eve of the pandemic, original equipment manufacturers (OEMs) were preparing for major change and the attendant disruption, as the transition to electric vehicles began to gain pace. Online searches in the UK doubled overnight, for example, when the…

Luckin Coffee Enters into Restructuring Support Agreement with Holders of a Majority of Existing Notes to Restructure Indebtedness and Enhance Capital Structure – GlobeNewswire

March 16, 2021 08:00 ET | Source: Luckin Coffee Inc. Noteholders are Expected to Receive Approximately 91-96% of the Par Valueof the Existing Notes Luckin Coffee Maintains Strong Liquidity Position and Continues to Execute on Growth Strategy Company Actively Pursuing Several Options to Achieve Certainty of Funding BEIJING, March 16, 2021 (GLOBE NEWSWIRE) — Luckin…

Nokia cutting up to 10,000 jobs under restructuring plan – New York Post

Nokia on Tuesday said it plans to slash up to 10,000 jobs over the next two years as it forges ahead with a corporate restructuring. The layoffs are part of a cost-cutting effort that will help free up funds for investments in research and development along with 5G and other projects, the Finnish telecom giant…

Crossbench warned of ‘massive’ job losses if it rejects IR reforms – The Australian Financial Review

However, unions argue the reforms will entrench the permanent casual and some crossbenchers have raised some concerns about the reforms. Mr Winter noted the well founded view that many businesses faced a back-pay liability from the rulings if they employed a casual for more than a single shift in the past six years, even if…