(Bloomberg) — Ailing French IT company Atos SE expanded talks with creditors to include bondholders, with a goal of reaching a debt restructuring agreement by July to head off a looming repayment crisis. Most Read from Bloomberg The process will last four months and can be extended by one month according to French law, Atos…
From 1 January 2021, Australias insolvency framework for small businesses changed. The purpose of the change was to assist small businesses, with debts under AUD $1 million, to survive specifically, by providing these businesses with simpler, more flexible restructuring options outside the existing one size fits all voluntary administration and scheme of arrangement processes available…
RSA Supported by More Than 74% of each of 1L Lenders, 1.5L Noteholders and 2L Noteholders Filed Voluntary Chapter 11 Petitions to Implement Financial Restructuring Plan Restructuring Plan Expected to Reduce Debt by ~$1 billion, Saving ~$75 million in Cash Interest Annually and Enabling CURO to Invest in Long-Term Growth All CURO Branches Are Open…
Introduction In the matter of Benjamin Hornigold Ltd v John Bridgeman Limited [2023] FCA 1195, the Federal Court of Australia considered section 453S of the Corporations Act 2001 (Cth) (Act) and the circumstances as to when leave should be granted for proceedings to be commenced against a company undergoing a restructure pursuant to the small business restructuring (SBR) regime.…
Street Talk Mar 24, 2024 6.14pm Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? Another local bigwig has pledged his allegiance to New York-headquartered Alvarez & Marsals assault on Australian dealmaking. Street Talk can reveal John Nestel, a dominant player in…
Trade credit insurances play a vital part in corporate finance in the German market. Yet the important role of credit insurers in restructuring scenarios is underestimated by many companies and their advisors. We examine what a trade credit insurance is and why it is important to keep insurers close in special situations. German Mittelstand: Stakeholders…
Ant this week announced a new round of business restructuring under which its overseas unit Ant International, the database operation OceanBase and Ant Digital Technologies will become three independently run business units Chinese fintech giant Ant Group Co. Ltd. has completed the reshuffle of its consumer lending businesses Huabei and Jiebei, wrapping up a years-long,…
In a strategic move, the HCCD, under the Ministry of Public Enterprises Sector, has crafted a comprehensive blueprint for the overhaul of its subsidiaries. The initiative targets transitioning from the Public Business Sector Law No. 203 of 1991 to the more contemporary Law No. 159 of 1981. Insiders revealed to Daily News Egypt that this…
As reported first by Financial Times earlier this week, Deloitte is undertaking an ambitious change-up in its global operations thats expected to take a year. The restructuring will see Deloitte trim its five main service lines down to four. The change was a fairly divisive topic internally according to one former partner who spoke to…
In a move to cut costs and simplify operations, Deloitte, the worlds largest professional services firm by revenue, is embarking on its most significant restructuring in a decade. The overhaul comes amid concerns about a potential market slowdown and follows a period of rapid growth for the consulting giant. Streamlining the business landscape A key…