John Winter, CEO of the Australian Restructuring Insolvency and Turnaround Association: Firms “well aware there are busy times ahead”. The temporary insolvency relief measures have cut work in the area to the extent that “55 per cent of insolvency firms remain on JobKeeper themselves“, said John Winter, the CEO of the Australian Restructuring Insolvency and…
Malaysian operatorMaxishasannounced that its chief technology and information officer (CTIO) Morten Bangsgaard has resigned from his position within the company. He will be leaving Maxis at the end of this year, to pursue other career opportunities. Bangsgaard has held the CTIO role for over six years. With Bangsgaards departure, Maxis has announced plans to streamline…
In Q2FY21,Voltas reported a healthy performance with consolidated revenue grew by 13 per cent year-on-year to Rs 1,613 crore led by revenue growth in all three segments. TopicsVoltas|Buzzing stocks|Markets SI Reporter | Mumbai Last Updated at November 9, 2020 12:33 IST Shares of Voltas hit a fresh record high of Rs 772.50, up 2.5 per…
Distributor Hills Limited has revealed it had let go 39 of its staff following a restructuring of its IT distribution business earlier this year. Addressing shareholders, managing director David Lenz said the restructure occured in June and prompted by the COVID-19 pandemic. He said the restructure aimed to prepare Hills for the post-COVID trading environment…
Fresh off a five million dollar capital raising, strong quarterly cash flow and a rebrand, ASX-listed Hubify (HBF) formerly known as United Networks Limited is set to execute on a pipeline of acquisitions, according to CEO Victor Tsaccounis. He made the comments during an interview on Boardroom Media where he was discussing the rebranding of…
SAN MATEO, Calif., Nov. 8, 2020 /PRNewswire/ — CRED INC. announcedtodaythatit, along with allof its subsidiaries, has commenced a voluntary Chapter 11 case in the United States Bankruptcy Court for the District of Delaware to explore strategic alternatives, including, without limitation, the restructuring of its balance sheet or the sale of its business as a…
At meeting held on 06 November 2020 Voltas announced that the Board of Directors of the company at its meeting held on 06 November 2020 agreed in-principle a proposal for restructuring of B2B businesses, comprising domestic Projects business relating to MEP/HVAC and Water projects and contracts, Mining and Construction Equipment (M&CE) business and Textile Machinery…
Signage is displayed outside a JC Penney Co. store in Chicago, Illinois. Christopher Dilts | Bloomberg | Getty Images For the dozens of American retailers that have filed for bankruptcy in 2020, it doesn’t always mean the end is near. Bankruptcies have piled up in the retail industry this year, as many of the consumer-facing…
The most significant insolvency reform in Australia in the last 30 years has been announced. On 7 October 2020, the Treasury released some of the proposed details to the reforms for public consultation. The purpose of this article is to examine some of the details. The most significant insolvency reform in Australia in the last…
Deloitte is kicking off talks with potential buyers of its British restructuring business amid expectations of a surge in activity triggered by swathes of coronavirus-inspired insolvencies. Sky News has learnt that Daniel Butters, who heads the big four audit firm’s UK restructuring operations, briefed hundreds of staff this week that he had been given a…