Category Archives: Restructuring

KordaMentha’s shift from restructuring to development – The Sydney Morning Herald

KordaMentha is not a name usually associated with property development, but the insolvency specialists’ real estate arm has just completed an apartment project in Melbourne’s hip inner-city Northcote. The $16 million, four-storey building, Libertine Apartments, has 34 one and two-bedroom apartments and is the third development entirely overseen by subsidiary KM Develop. KordaMentha’s Libertine Apartment development…

Lenders order Videocon forensic audit prior to loan restructuring: Report – Business Standard

A forensic audit of Videocon Industries’ accounts has been ordered by a consortium of lenders led by the State Bank of India (SBI) to ascertain if the company stumbled due to tough business conditions or financial mismanagement, the Economic Times reported on Friday while citing two sources.   Professional services company KPMG will be…

RBS reports first-half profit as recovery gathers pace – Business Insider

FILE PHOTO: People walk past a Royal Bank of Scotland office in London Thomson Reuters LONDON (Reuters) – Royal Bank of Scotland on Friday said it posted a profit in the first half of 2017 following a 2 billion pound ($2.65 billion) loss in the same period last year amid hefty restructuring and legal costs.…

SBI-led consortium orders forensic audit of Videocon Industries’ debt: Report – Moneycontrol.com

Moneycontrol News A consortium of lenders led by State Bank of India has ordered a forensic audit of Videocon Industries‘ account to investigate whether the company stumbled because of tough business conditions or financial mismanagement. The measure is a precursor to the debt restructuring process, which has now become inevitable for Videocon after the company…

Two executives depart Tyson Foods as part of restructuring – Food Business News (registration)

Aug. 3, 2017 – by Monica Watrous Monica McGurk, chief growth officer, and Andy Callahan, president, North American Foodservice & International, will be leaving Tyson Foods. SPRINGDALE, ARK. Two executives will depart Tyson Foods, Inc. as part of a company restructuring announced Aug. 2. Monica McGurk, chief growth officer, and Andy Callahan, president, North American…

UPDATE 1-Poste working on business plan, to focus on asset management – Reuters

(Adds CFO and CFO comments on future strategy) MILAN, Aug 2 (Reuters) – Poste Italiane will focus on developing its asset- management business, while continuing the restructuring of its mail and parcel service, under a new business plan now being drafted. The Italian group, which is controlled by the government, last year got more than…

Molina Healthcare Announces Second Quarter Results and Restructuring Plan – Business Wire (press release)

LONG BEACH, Calif.–(BUSINESS WIRE)–Molina Healthcare, Inc. (NYSE: MOH): Net loss of $230 million for the quarter, or $4.10 per diluted share. Restructuring plan now underway is expected to reduce annualized run-rate expenses by $300 million to $400 million upon completion in 2018. $200 million total reduction to annualized run-rate expenses resulting from staff reductions expected…

Johnston Press appeals to pension trustees to back salvage deal as local newspapers struggle – Telegraph.co.uk

It is evident that there is common ground and everyone is broadly agreed on where we need to get to. There is a still a lot of work to get through. This is a business which we have long believed needed to transform, but once done, could return to growth Johnston Press could seek to…

Radian To Restructure Services Business, Expects To Incur Charges – Quick Facts – Nasdaq

Shutterstock photo (RTTNews.com) – While reporting its second-quarter financial results today, Radian Group Inc. ( RDN ) said that based on the strategic review of the Services business lines to date, it has decided to restructure this business and currently expects to incur charges relating to the changes necessary to reposition this business…

Walter Investment Management Corp. Announces Agreement on Deleveraging Transactions – Enters Into Restructuring … – Markets Insider

FORT WASHINGTON, Pa., Aug. 1, 2017 /PRNewswire/ — Walter Investment Management Corp. (the “Company”) (NYSE: WAC.BC) today announced that it had entered into a Restructuring Support Agreement (the “RSA”) with its senior lenders holding, as of July 31, 2017, more than 50% of the loans and/or commitments outstanding (the “Consenting Term Lenders”) under the Company’s Amended…