Aligning capital spend with overall market conditions and pace of industry readiness Reorganization of U.S. operations and a reduction in force to focus development efforts No longer seeking strategic alternatives for Asia Pacific business SAN DIEGO, May 18, 2023 /PRNewswire/ — TuSimple (Nasdaq: TSP), a global autonomous driving technology company, announced a restructuring plan for its…
May 18 (Reuters) – TuSimple Holdings Inc (TSP.O) said on Thursday it will cut 30% of its workforce in the United States under a restructuring as the autonomous driving technology company looks to preserve its balance sheet amid a funding crunch in the sector. The shares of the company fell more than 8% in premarket…
The recent sanction judgment gives important guidance on the way in which the court’s discretion should be exercised when sanctioning a restructuring plan and considers whether it is necessary for opposing parties to provide valuation evidence of their own . Key takeaways from the judgment No worse off test: expert evidence An opposing party is…
HONG KONG, May 18 (Reuters) – A shrinking land bank and sluggish property demand are likely to hamper the plans of a growing number of private Chinese developers who have defaulted on their debt and are restructuring it to win breathing room to revive their fortunes. Those hurdles could hinder the drastic improvements in sales…
Supplied Xeros loss was largely the result of restructuring costs and a write-down in the value of a business it bought in 2021. Small business accounting services company Xero has reported an after tax loss of $113.5 million despite a 28% increasing in its earnings. The net loss for the 12 months to the end…
Julian Challingsworth (Spirit managing director) Credit: Spirit Spirit Technology Solutions is redirecting its attention towards security, sustainability and scalability following the conclusion of its organisational restructuring. The three-pronged approach, launched this month, targets the three key high growth areas for the publicly listed company, according to a statement released to the Australian Securities Exchange (ASX).…
Supplied Xeros loss was largely the result of restructuring costs and a write-down in the value of a business it bought in 2021. Small business accounting services company Xero has reported an after tax loss of A$113.5 million (NZ$121m), despite a 28% increasing in its earnings. The net loss for the 12 months to the…
Company emerges with significantly deleveraged balance sheet, ~$875 million of liquidity, and having achieved previously announced leadership transition HOUSTON, May 17, 2023 /PRNewswire/ — Talen Energy Corporation (“Talen” or “the Company”) announced today that it, along with its applicable debtor subsidiaries, has successfully consummated the strategic transactions contemplated by its chapter 11 plan of reorganization…
Kevin provides a wide spectrum of services to his clients. He was responsible for multiple restructuring and transaction advisory engagements, covering debt restructuring, mergers and acquisitions, valuation and financial due diligence. He was also engaged in both formal and informal insolvency procedures, including liquidations, receiverships, bankruptcies and scheme of arrangements. Kevin was previously a director…
Kevin Jackson, Oak Park Village Manager | Provided Oak Park Village Manager Kevin Jackson has proposed a significant restructuring of village staff with the impending retirement of department director Tammie Grossman, who oversees the villages commercial development and housing, as well as parking and permitting. Breaking up Grossmans vast division, currently called the Development Customer…