As the economic impact of the Covid-19 crisis manifests itself, Matthew Wilde, a Managing Director at AlixPartners in the Middle East, anticipates a sea of firms will be forced to restructure their operations with survival and growth in mind. Wilde was brought on board to lead AlixPartners Turnaround & Restructuring team in the region just…
New Zealand womens fashion brand Max is currently working with a partner from Australian consultancy McGrath Nicol to restructure its operations. At present, 17 of the companys stores are lined up for closure, after having virtually no revenue during the Covid-19 lockdown. McGrath Nicol is a specialist advisory and restructuring firm that has built a…
Summary Cathay Pacific‘s bailout package was unavoidable in order to stave off more unpalatable alternatives Another important step will be a thorough business review and likely streamlining Cathays passenger demand was affected by protests, then took a larger hit from COVID-19 The government will monitor its new stake via observers, but vows hands-off approach Strategic…
The new UK legislation for companies in financial difficulty represents a fundamental shift in approach to restructuring in Europe and adds an important new tool to the UK restructuring framework. The availability of a plan proposed under the new Part 26A of the Companies Act 2006 (a Restructuring Plan) will undoubtedly change how many distressed…
Hertz Global Holdings Inc. is in talks to obtain a bankruptcy loan to fund its business reorganization after scrapping a controversial sale of potentially worthless stock, according to people familiar with the matter. The rental-car company on Wednesday called off a potentially unprecedented sale of up to $500 million in shares, leaving it in need…
Introduction Ordinary moratorium COVID-19 moratorium Introduction A moratorium under the Debt Enforcement and Bankruptcy Act is a standstill period granted by a court for a company going through financial hardship to assess whether it can enter composition proceedings or go bankrupt. Originally, unlike in other jurisdictions, the purpose of a moratorium in Switzerland was not…
Calisen announced plans for a restructuring of its Lowri Beck business unit on Thursday, in a bid to make it a leaner, more efficient and sustainable business. The London-listed firm described Lowri Beck as a capability-enhancing acquisition, which it made last August, to enable it to provide meter installation services to the growing independent energy…
While I was the head of the Corporate Finance Department at National Finance (now known as Thanachart Bank), I handled many cases of debt restructuring. The largest one was the 20-billion-baht debt of a hospital chain. Much like Thai Airways, creditors had to determine which has more value: liquidating assets or keeping the business running.…
Cricket Australia will cut 40 staff and slash executive pay as part of a restructuring effort to shore up finances hit by the coronavirus pandemic, the board said on Wednesday. The cost-cutting measures, which also include the suspension of international tours for lower-tier and junior teams, will save the board up to A$40 million a…
Leslie Levinson is co-chair of the firm’s Transactional Health Law Group and a member of both the Health Law and Business Transaction Groups. He has represented private and public businesses throughout his more than 30-year career. Although Les maintains an active business law practice, he concentrates on the transactional, regulatory, and compliance representation of health…