WYNYARD, UK, July 26, 2023 /PRNewswire/ — Venator Materials PLC (“Venator” or the “Company“) (OTC: VNTRQ), a global manufacturer and marketer of chemical products, today announced that the U.S. Bankruptcy Court for the Southern District of Texas (the “Court“) has confirmed the Company’s Plan of Reorganization (the “Plan“). Simon Turner, President and Chief Executive Officer of Venator, said: “We…
July 25 (Reuters) – Jack Ma-backed Ant Group (688688.SS) is planning a restructuring that will break off some non-core operations of its China financial-related business, Bloomberg News reported on Tuesday, citing people familiar with the matter. The Alibaba Group (9988.HK) affiliate is looking at excluding its blockchain, database management services and international businesses from a…
Nick Pike The new owner of Purplebricks has appointed restructuring specialist Nick Pike to its board of directors. The intention to appoint an additional director to the board of the company, to assist Dominique Highfield, and to provide additional experience in business transfers and company dissolutions, was stated in the Companys Circular to shareholders dated…
Purplebricks and its new owner Strike has bolstered the board with an experienced restructuring specialist. Dominique Highfield, CFO, Purplebricks Nick Pike (main picture) will work with existing CFO Dominique Highfield, providing additional experience in business transfers and company dissolutions. Highfield was the only senior manager to stay on after Purplebricks was purchased for 1 by…
July 25, 2023 Practices: Business Restructuring Law360 highlighted Ropes & Grays work representing consumer and shopping network company iMedia Brands Inc. in its Chapter 11 case in Delaware bankruptcy court. The July 21 article profiled Ryan Preston Dahl, co-chair of the business restructuring practice group, business restructuring partner Cristine Pirro Schwarzman, and business restructuring associate…
Distressed de-SPACed companies are increasingly turning to chapter 11 as a means of restructuring their debts and preserving going-concern value. TAKEAWAYS Many de-SPAC mergers in 2020 and 2021 involved pre-revenue or not-yet-profitable companies that are now struggling to remain viable as interest rates rise. At least a dozen distressed de-SPACed companies have turned to chapter…
Insolvency risk management should be core to business operations because default rates will rise steeply as mortgage holders come off fixed-rate loans, according to the latest CreditorWatch data. It said external administrations have returned to pre-pandemic rates and defaults will hit 5.8 per cent this financial year so businesses need to actively minimise risk exposure.…
– Expected overall cash savings of $75 million through 2025– New executive management team in place SAN DIEGO, July 24, 2023 /PRNewswire/ — Heron Therapeutics, Inc. (Nasdaq: HRTX), a commercial-stage biotechnology company focused on improving the lives of patients by developing and commercializing therapeutic innovations that improve medical care, today announced a cost reduction plan and…
VANCOUVER, British Columbia, July 24, 2023 (GLOBE NEWSWIRE) — AgriFORCE Growing Systems Ltd. (the Company) (NASDAQ: AGRI; AGRIW), an agtech company focused on advancing sustainable cultivation and plant-based products, today provided a business update following the recent restructuring of management. Richard Wong, interim CEO of AgriFORCE, stated, We remain committed to pursuing business opportunities that…
Agriforce Growing Systems Ltd. VANCOUVER, British Columbia, July 24, 2023 (GLOBE NEWSWIRE) — AgriFORCE Growing Systems Ltd. (the Company) (NASDAQ: AGRI; AGRIW), an agtech company focused on advancing sustainable cultivation and plant-based products, today provided a business update following the recent restructuring of management. Richard Wong, interim CEO of AgriFORCE, stated, We remain committed to…