Small businesses in strife are increasingly turning to the simplified debt restructuring process introduced during the pandemic with large spikes in take-up over the past two months, according to the latest data from creditor risk specialist Alares. It found Small Business Restructuring applications during August and September averaged about 75 a month the first sign…
Cathro & Partners has welcomed industry veteran Henry Kazar to its Canberra office. The newly appointed Principal brings over 40 years of experience in corporate and personal restructuring services across public and private sectors. Henry will be a significant asset to the firm as we continue to build out our insolvency and restructuring advisory practice,…
The M&A Advisor recognized Ropes & Grays business restructuring practice in its 14th annual International M&A Awards. Ropes & Gray is honored for restructuring deal of the year advising Vewd Software AS through a prepackaged Chapter 11 cases. The business restructuring practice is also recognized in the healthcare/life sciences deal of the year category for…
Showfields Inc. has filed for bankruptcy and has lined up financing to support a restructuring, WWD has learned. The company did not disclose the amount of the new funding, which came from existing investors. The new money will be used for completing the sunsetting of the two stores closed earlier this year, paying outstanding bills,…
Summary Companies Total value of Japan M&A transactions grew 14% in Jan-Sept Domestic deals, including Toshiba and JSR, led growth Low interest rates, new guidelines likely to help momentum TOKYO/HONG KONG, Oct 5 (Reuters) – Japan’s M&A market is standing out against a worldwide decline this year, thanks to surging domestic deals as rising costs,…
Street Talk Oct 5, 2023 3.04pm Finally, after a protracted recapitalisation process, theres movement at Accolade Wines, the countrys second-largest wine group behind Treasury Wine Estates, the company behind the high-profile Penfolds label. Street Talk can reveal existing lenders for The Carlyle Group-owned wine producer were on Wednesday night presented with a sweeping turnaround plan,…
Reuters. In a significant leadership shift, French IT firm Atos announced on Wednesday that Yves Bernaert has assumed the role of CEO. He replaces the interim leadership group comprising Nourdine Bihmane, Philippe Oliva, and Diane Galbe. This change comes in the wake of a series of failed takeover attempts and profit warnings that led to…
Atento receives backstop commitments for an additional $76 million in exit financing. This additional funding commitment comes on top of the $37 million funding already received by Atento, bringing the total additional funding to be received in connection with its Restructuring to $113 million. The exit financing, combined with the extinguishment of $663 million of liabilities…
BUSINESS RESTRUCTURING REVIEWVOL. 22 NO. 5 SEPTEMBEROCTOBER 20231IN THIS ISSUE1 Courts Broad Interpretation of Definition of Securities Contracts Promotes Expansive Scope of Bankruptcy Code Safe Harbor2 Lawyer Spotlight: Kathryn Sutherland-Smith6 Texas Bankruptcy Court Blesses Serta Chapter 11 Plan Over Objections of Lenders Excluded from Position Enhancement Transaction9 Circuit Split Widens on Extent of Abrogation of…
CHICAGO, Oct. 3, 2023 /PRNewswire/ — Global law firm Ropes & Gray announced today that Chris Dickerson, a market leader in advising companies and sponsors in their most complex restructuring transactions, has joined the firm in Chicago. Chris’s addition is another, significant step as Ropes & Gray continues to enhance its restructuring, liability management and special…