Bangkok THAI Airways International Pcl, the nation’s flagship carrier, got court approval for its business restructuring on Monday. The Central Bankruptcy Court decided that the airline can proceed with its business reorganisation plan, a crucial step forward for the embattled company, which has around 350 billion baht (S$15.3 billion) of debt, according to Chansin Treenuchagron,…
TORONTO & BROSSARD, Qubec–(BUSINESS WIRE)–Bitfarms Ltd. (Bitfarms, or the Company) (TSXV:BITF) is providing an update with respect to its previously issued press release dated August 20, 2020, in which it disclosed that it had reached an agreement with Dominion Capital LLC (Dominion) to amend certain terms and conditions of two of its US$5,000,000 loan tranches.…
A Thailand court on Monday approved the restructuring of Thai Airways, which is billions of dollars in debt and struggling to survive the coronavirus tourism crash. The global aviation sector was plunged into crisis by the pandemic as countries severely restricted travel, forcing airlines to ground vast numbers of planes and seek government help as…
A Thailand court on Monday approved the restructuring of Thai Airways, which is billions of dollars in debt and struggling to survive the coronavirus tourism crash. The global aviation sector was plunged into crisis by the pandemic as countries severely restricted travel, forcing airlines to ground vast numbers of planes and seek government help as…
By Satish Kumar Gupta In August 2020, to mitigate the financial stress faced by borrowers on account of the economic fallout of the Covid-19 pandemic, RBI issued a circular on Resolution Framework for Covid-19-related Stress (Covid Resolution Framework-CRF). CRF enables lenders to implement a resolution plan in respect of eligible borrowers without a change in…
A corporate reorganization at Accor pushes some power away from corporate headquarters and leaves the Paris-based hotel company without four of its top executives, according to an internal memo sent this week by the companys CEO Sebastien Bazin. The restructuring calls for eight geographic hubs around the world while maintaining a central office led by…
Unions enforce pro-business restructure at Australia Post By Jim Franklin and Oscar Grenfell11 September 2020 The unions covering Australia Post (AP) are continuing to enforce a pro-business restructuring of the government-owned postal service, even as it is clear that the overhaul is already resulting in greater workloads and worsening conditions, and opens the way for…
How soon and how far can businesses go in their re-making to deal with the pandemic and its outsized influence on their operations? Image Credit: Gulf News Archive The Gulf enjoyed a sustained level of development and growth over the last 15 years. This development has been a result of significant amounts of sovereign and…
11 September 2020 GENERAL TEXT AMENDEMENT The following amendment has been made to the ‘Proposed Conditional Debt Restructuring Agreement’ released on 8 September 2020 at 0715 under RNS No 3250Y. “Although I’m disappointed that the final outcome is not in line with the general terms discussed with the Lenders prior to the purchase of the…
Daily News View All News September 10, 2020 Professional staffing provider Resources Connection Inc. (NASDAQ: RECN), which operates as Resources Global Professionals, announced that its board on Sept. 2 approved the continuation of the companys restructuring efforts, focusing presently on its European business. Similar to the restructuring initiatives in the companys North America and Asia…