Checkers reached a restructuring deal with its lenders on Tuesday. | Photo courtesy of Checkers Drive-In Restaurants Checkers Drive-In Restaurants on Tuesday said it has reached a deal with its lenders that will give them a majority stake in the company in exchange for a reduction in its overall level of debt. As part of…
Networking News Gina Narcisi June 20, 2023, 09:00 AM EDT Having gotten this financial restructuring completely behind us with extraordinary results where we now have a genuine financial strength so that we can focus completely on business strategy and business realignment thats the fun part, Avayas CEO Alan Masarek tells CRN. Avaya Ready To Re-ENGAGE…
June 20 (Reuters) – Alibaba Group Holding (9988.HK) said on Tuesday that Eddie Yongming Wu, chairman of its Taobao and Tmall Group, will succeed Daniel Zhang as chief executive officer, in the company’s biggest executive reshuffle since its restructuring. The e-commerce giant announced in March it will split into six business units, each with its…
BUSINESS RESTRUCTURING REVIEWVOL. 22, NO. 3 MAY-JUNE 20231IN THIS ISSUE1 U.S. Supreme Court Rules that Bankruptcy Codes Protection of Unstayed Asset Sale Orders to Good-Faith Purchasers Is Not Jurisdictional2 Lawyer Spotlight: Meet Corinne Ball5 New York Bankruptcy Court Breaks from Precedent in Ruling that Time Approach Should Be Used to Calculate Landlords Claim for Lease…
LGChemplanstooffloadmarginalbusinesses South Koreas LG Chem Ltd. is speeding up restructuring efforts to sell or downsize uncompetitive businesses, with an aim to focus on three growth drivers: battery materials, eco-friendly businesses and new drug development. Earlier this month, it sold the in vitro diagnostics business of the life science division to Seoul-based Glenwood Private Equity for…
Popular US shoe brand Rockport, known for its comfy casual and dress shoes inspired by running shoes, has filed for bankruptcy. Rockport shoes are sold through a number of Australian retailers including The Athletes Foot, Mathers and the department store David Jones. The US-based footwear company will undergoes voluntary restructuring under Chapter 11 bankruptcy. The…
Updated Jun 19, 2023 7.42am, first published at Jun 18, 2023 7.00pm Key Points A deal would ramp up the restructuring taking place at the big end of Australias electricity and gas sector; Origin is the subject of an $18.4b takeover bid from North American suitors led by Brookfield; AGL is regrouping after a failed…
Rockport Group has filed for bankruptcy under Chapter 11 in the District of Delaware. Rockport is sold through a number of Australian retailers including The Athlete’s Foot and Mathers. The US-based footwear company has confirmed it will operate business as usual as it undergoes voluntary restructuring. As part of the case, Rockport also intends to file…
Corporate lawyers advise partnerships and corporations in all legal and commercial matters beginning with the founding of a company via corporate restructuring measures to the liquidation of the entity. Therefore, a corporate lawyer has to deal, among other legal issues, with the choice of the entitys legal form based on the entrepreneurs business, drafting articles…
Ensos CEO believes this move is essential for the companys long-term survivability. Credit: I99pema/commons.wikimedia.org. Finnish company Stora Enso is planning to implement company-wide restructuring actions to improve its profitability and competitiveness in the long term. The company intends to swap its focus on capital allocation in the strategic growth markets with an increased focus on…