Garuda Indonesia expects to launch a UK scheme of arrangement as part of a restructuring in which it is looking to remove nearly 80 aircraft from its fleet and renegotiate or cancel orders for more than 90, Cirium understands. To implement the restructuring of the groups aircraft lease arrangements and potentially its other debts, the…
HONG KONG/SHANGHAI, Sept 14 (Reuters) – Cash-strapped property group China Evergrande Group (3333.HK) said on Tuesday it has engaged advisers to examine its financial options and warned of default risks amid plunging property sales, sending its stock and bond prices sharply lower. The real estate giant has been scrambling to raise funds it needs to…
Nok Air has outlined plans for a capital and debt restructuring alongside its ongoing business rehabilitation process to improve its financial health and avoid being delisted from the Stock Exchange of Thailand (SET). On 9 September, the SET warned Nok that it was subject to possible delisting and has given the airline one month until…
Shadow education minister Tanya Plibersek addressed an elite business gathering last month, presenting a future Labor government as the best means of escalating the corporate restructuring of tertiary education. In her August 16 speech to the Australian Financial Review Higher Education Conference, Plibersek said nothing about the destruction of tens of thousands of jobs throughout…
SINGAPORE – Shareholders of Singapore Press Holdings (SPH) have voted overwhelmingly in favour of carving out its media business into a new company limited by guarantee (CLG). Here is a recap of the recent developments for SPH, which publishes The Straits Times. Oct 13, 2020: SPH posts its first ever net loss of $83.7 million…
ARDSLEY, N.Y., September 09, 2021–(BUSINESS WIRE)–Acorda Therapeutics, Inc. (Nasdaq: ACOR) today announced a corporate restructuring to reduce costs and more closely align operating expenses with expected revenue. The Company also announced changes to its management team. Corporate Restructuring As a result of the restructuring, the Company is reducing headcount by 15%. Most of the reduction…
In July, my colleague Hayden Asper, wrote in this publication that when it came to collecting outstanding tax debts, while the Australian Tax Office had cut businesses some slack, this generosity wasnt going to last forever. And it hasnt. For a while, the ATO had been sympathetic about uncertain cash flows and made some changes…
Concilium Consulting, consulting company in business restructuring affiliated to Turnaround Management Association, managed to get, according to the Government Ordinance 6/2019, the restructuring of all outstanding budgetary debts of Chimica Group, amounting to over RON 48 million. The National Agency for Tax Administration approved all the six restructuring plans we have drafted for the Chimica…
IRVINE, Calif.–(BUSINESS WIRE)–Force Ten Partners LLC (Force 10) today announced the completion of the restructuring effort for CarbonLite Holdings, LLC and its subsidiaries (CarbonLite), one of the world’s largest suppliers of post-consumer recycled polyethylene terephthalate (rPET), which is then used to produce high-quality food-grade recycled rPET material sold to the world’s largest beverage companies. On…
10 September 2021 Consultancy.uk 3 min. read PwC has enhanced its business restructuring services with the appointment of Rob Asplin as a Senior Advisor. The Head of the department, Steve Russell, praised a great addition to the team, demonstrating PwCs continued investment in the sector. Asplin arrives with more than two decades of expertise in…