Vice Media Group, the company behind popular media websites such as Vice and Motherboard, is preparing to file for bankruptcy, the New York Times reported on Monday, citing people with knowledge of its operations. The report comes days after Vice shuttered its Vice News Tonight program, and amid waves of media layoffs and closures, including…
Linklaters has announced the appointment of Rebecca Jarvis, partner in the firms London office, as its new global co-head of banking. Rebecca succeeds Philip Spittal as he retires from the firm and will join existing global co-head Ben Crosse, who is based in Madrid. Rebecca becomes the first female lead of the global Banking practice,…
Piper Sandler Companies (NYSE: PIPR), a leading investment bank, is pleased to announce the addition of Sam Karotkin as a managing director to its restructuring investment banking team.We are very excited to welcome Sam to the team. His strong leadership skills and extensive background in restructurings, both in and out of court, will be a…
JHVEPhoto Company Profile Newell Brands Inc. (NASDAQ:NWL) is a company founded in 1903 with a diverse portfolio of products that includes many household brands and operates in various segments such as writing, home solutions, commercial products, baby and parenting, outdoor and recreation, and process solutions. Business segments (Company’s filing) Key Takeaways from Q1 2023 Earnings:…
Global consultancy firm Ankura has brought one of its powerhouse lines of business turnaround and restructuring to the Middle East. Based out of Dubai and the recently launched Riyadh office, Ankura advises clients on a wide range of management consultancy, financial advisory and technology topics. In the region, most of its work focuses on mergers…
Weil advised an ad-hoc group of noteholders in relation to the consensual recapitalization and financial restructuring of Frigoglass S.A.I.C. and the group of companies formerly controlled by it (the Frigoglass Group). The Frigoglass Group is a Greece-based manufacturer of commercial refrigerators as well as a leading manufacturer of frozen packaging, with operations in Europe, the…
Cascades, a Kingsey Falls, Quebec-based paper and packaging producer, is restructuring its Tissue Papers platform, closing two underperforming plants as well as shutting down a virgin paper tissue machine in a move that will impact 300 employees in the U.S. Beginning in July, the company will progressively close what it says are underperforming plants in…
Vice Media is set to cancel its acclaimed program Vice News Tonight and undertake a sweeping restructuring that will have painful consequences for staff across the organization. According to reports, dozens of employees are set to lose their jobs, with the Washington, D.C. bureau reportedly being hit particularly hard. In a memo to staff, Vice…
HONG KONG, April 27 (Reuters) – Embattled property developer China Evergrande Group (3333.HK) said on Thursday it would extend the deadline for receiving an incentive for its debt restructuring proposal to May 18 as the company disclosed levels of support from offshore debt-holders for its proposal. Evergrande said that 77% holders of class-A debts and…
Distressed US companies are increasingly resorting to debt restructurings to avoid expensive bankruptcy proceedings, but many borrowers ultimately end up in court anyway with their deals amounting to little more than can-kicking exercises. Almost three-quarters of US corporate debt defaults last year were out-of-court distressed exchanges, where a company offers creditors assets worth less than…