July 03, 2020 08:00 ET | Source: Epiq NEW YORK, July 03, 2020 (GLOBE NEWSWIRE) — Epiq, a global leader in legal services, released the June 2020 bankruptcy filings statistics today from its AACER business. Notably, commercial Chapter 11 filings are up 43% over June of last year, with 609 new filings, up from 424…
Jul 02 2020, 10:15 PMJul 02 2020, 10:15 PMJuly 02 2020, 10:15 PMJuly 02 2020, 10:15 PM Auto components major Motherson Sumi Systems Ltd. on Thursday announced a group restructuring under which it will demerge its domestic wiring harness business into a new company that will eventually be listed. The reorganisation has been approved by…
The deal was unanimously approved by secured lenders and reduces Suzlon’s term debt substantially.It also replaces the balance of debt it owes to its lenders with debt securities and shares Suzlons CFO Swapnil Jain said: This debt restructuring will ease the pressure on our cash flows significantly and give us headroom for ramping up business…
Turbine manufacturer Suzlon has completed debt restructuring with the unanimous approval of its secured lenders. The company said the term debt is reduced substantially with interest of 9% a year repayable over 10 years starting today. It added that the balance debt of secured consortium lenders has been replaced by 0.01% optionally convertible debenture of…
July 01, 2020 21:52 ET | Source: Aeromxico Mexico City, July 01, 2020 (GLOBE NEWSWIRE) — Company Obtains Court Approval of All Requests at “First Day” Hearing Aeromexico Continuing to Serve Customers and Operatewith Focus on Health and Safety of Employees and Customers Mexico City, July 1, 2020 — Grupo Aeromexico S.A.B. de C.V (Aeromexico…
Japan Display Inc. said Tuesday it posted a group net loss of 101.42 billion ($938 million) in fiscal 2019, a red ink figure for the sixth straight year, due to hefty restructuring costs and weak demand for products. In a delayed earnings report due to the new coronavirus outbreak, the struggling panel-maker logged a consolidated…
LEAWOOD, Kan.–(BUSINESS WIRE)–Jul 1, 2020– NPC International, Inc. (NPC or the Company) today announced that it has entered into a restructuring support agreement (RSA) with lenders holding approximately 100% of the Companys first lien priority debt and 70% of its first lien debt (collectively, the Senior Secured Lender Group) to substantially reduce NPCs long-term debt…
As a growing number of oilpatch companies arebeing pushed toward bankruptcy across NorthAmerica,a number ofCanadianplayers are working with creditors andmaking moves that experts say are aimed at avoiding such a fate. Bow River Energy, Sequence Energy and Delphi Energy have filed for protection under the Companies’ Creditors Arrangement Act(CCAA) to come up with a restructuring…
61% of businesses in the region expect a significant or worse decline in annual revenue in the wake of COVID-19, new survey shows. While still in its infancy, many companies are beginning to formulate their recovery strategies from COVID-19. However, as more economies launch into the next phase of relaxed lockdown measures, what organisations plan…
The legislation has introduced new corporate restructuring tools and temporary easements, with the aim of giving distressed businesses the breathing space they need to get advice and seek a rescue. One of its key provisions is the introduction of the new role of a monitor to oversee the corporate moratorium it introduces an extendable 20…