Aug 14 (Reuters) – Embattled property developer China Evergrande Group (3333.HK) said on Monday its listed electric-vehicle arm has agreed to issue new shares to certain subscribers to ease loan burden and improve liquidity as part of its restructuring proposal. Under the terms, China Evergrande New Energy Vehicle Group (0708.HK) (NEV) will issue an aggregate…
Country Garden Holdings Co., once Chinas biggest real estate developer, is edging toward a default. The distressed builder suspended trading in nearly a dozen onshore bonds Monday, paving the way for debt negotiations and a possible restructuring. Investment bank CICC International Capital Corp. has been engaged to explore options for the company, including extending some soon-to-mature yuan…
Aug 14, 2023 5.00am The new local country head of a major New York-headquartered professional services firm best known for restructuring bankrupt investment bank Lehman Brothers says the timing is perfect for it to bring its business to Australia and compete with its larger rivals. But it has been a long time of planning well…
Legal expertise from James S. Lamontagne, Esq. of Sheehan Phinney 21 minutes ago Businesses facing financial distress with lenders, landlords or vendors have options other than closing their doors. Two options for businesses to consider are forbearance agreements and the Subchapter V bankruptcy process, which is a streamlined, less expensive and more efficient bankruptcy process…
Aug 11, 2023 3.34pm Crown Group has entered into provisional liquidation, with its co-founders Iwan Sunito and Paul Sathio agreeing to put aside a long-running dispute in an attempt to salvage the company, once a major real estate developer. Andrew Sallway, BDO business restructuring partner, was appointed as the companys provisional liquidator on Thursday. Mr…
Walt Disney and Co. (DIS) lost about 12 million Disney+ streaming subscribers, took a big hit due to restructuring costs, and missed revenue projections, but its third-quarter earnings per share beat analysts’ expectations. Key Takeaways Disney reported earnings per share (EPS) of $1.03 per share, topping expectations of 95 cents a share. Revenue was 4%…
Breadcrumb Trail Links PMN Business The founder of Noble Group, the commodity trader that collapsed into insolvency in 2018, is suing the company over a debt restructuring that he says was unfair to minority shareholders including himself. Author of the article: Bloomberg News Stephen Engle, Jack Farchy and Siuming Ho Published Aug 09, 2023 …
Voluntary Chapter 11 Commenced to Finalize Consensual Go-Forward Plan for Amyris’ Core Business $190 Million Financing Commitment from Foris Ventures to Support Day-to-Day Operations EMERYVILLE, Calif., Aug. 9, 2023 /PRNewswire/ — Amyris, Inc. (Nasdaq: AMRS) (“Amyris” or the “Company”), a leading synthetic biotechnology company accelerating the world’s transition to sustainable consumption through its Lab-to-Market technology…
Michael A. Criscito Joins FTI Consulting to Co-Lead Real Estate Restructuring Advisory Services FTI Consulting Senior Managing Director Cynthia A. Nelson Also Named Co-Leader of Real Estate Restructuring Advisory Services Washington, D.C., Aug. 9, 2023 FTI Consulting, Inc. (NYSE: FCN) today announced the appointment of Michael A. Criscito as a Senior Managing Director and Co-Leader of…
World Rugby has announced the appointment of City Football Group Finance Director Neil Hitchen to lead the finance function, replacing former Chief Financial Officer Robert Brophy who stepped down in June. Hitchen will join the business in September, an exciting time for the sport with Rugby World Cup 2023 getting underway in France. The…