The Navneet & Company invites application for the post of Junior Associate & Associate.

Name of the Post: Junior Associate & Associate

No. of Vacancies: 04 (Four)

Duration: A minimum duration of 1 year shall be preferred, the term may be extended based on the performance of the candidate.

Date of Joining: Opportunity is open for joining on an immediate basis.

Mode: Offline, at the office based in Chandigarh.

About the Organisation

• Navneet & Company, led by the seasoned insolvency professional Mr. Navneet Gupta, is expanding its team and seeking Associates to contribute to its Insolvency & Bankruptcy practice at its Chandigarh office. With a history of practising under the IBC since its inception, Mr. Gupta has been managing…

By Engen Tham

DALIAN, China (Reuters) – When a Chinese pork producer filed for bankruptcy in 2019, the news came as a jolt to Alan Hill.

The retired Apple executive from Albuquerque had invested about $100,000 last decade in Dalian Chuming Meat Processing through a U.S.-listed holding company, Energroup Holdings. Chuming had not paid dividends for many years, but it supplied pork to Walmart and had been profitable at least as recently as 2016.

A decision by a Chinese court in Dalian to place Chuming into liquidation in 2021, a three-year process during which the company auctioned off assets and repaid debt, meant U.S. shareholders had to drop their pursuit of unpaid dividends.

For Hill, who turns 86 in May, the loss of his funds has…

European quarterly institutional loan volume activity in €bn (estimated). Source: Pitchbook | LCD Data through March 11, 2024

It is fairly well known in our circles at least that loan-to-own distressed debt investors have been raising capital to purchase debt positions as a pathway to taking ownership of financially stressed companies via debt-for-equity swaps, and then make operational improvements to try to return assets to profitability.

The playbook these funds follow is best actioned during times of economic stress – once the debt is acquired, when value breaks inside creditors positions, the debt holders offer a debt exchange to de-lever the company (loan for own), usually preliminary to a later equity raising….

After running a successful campaign to remove three board members, major Keybridge shareholder WAM Active has convinced a court to end the investment company’s administration after it provided a letter of comfort and offer to fund its debts.

Highlights:

• Investors, lawyers air concern over risks in China’s bankruptcy process
• China bankruptcies are rising amid economic slowdown, property slump
• Chuming case raises investor concern over enforcement of bankruptcy laws
• Chuming, judicial authorities did not respond to questions about its bankruptcy

---

When a Chinese pork producer filed for bankruptcy in 2019, the news came as a jolt to Alan Hill.

The retired Apple executive from Albuquerque had invested about $100,000 last decade in Dalian Chuming Meat Processing through a US-listed holding company, Energroup Holdings. Chuming had not paid dividends for many years, but it supplied pork to Walmart , and had been profitable at least as recently as 2016.

The British owner of New Brunswick small modular nuclear reactor developer Moltex Energy Canada Inc. is up for sale as part of a U.K. insolvency proceeding.

Moltex Energy Ltd., a private company based in Stratford-upon-Avon, announced last month the appointment of two insolvency practitioners from accounting firm Azets Holdings Ltd. to manage its affairs. Azets hired appraisers Hilco Valuation Services to solicit offers for its assets, which are due May 7.

It’s the latest complication for taxpayer-sponsored efforts to construct small modular reactors, or SMRs, in New Brunswick.

Moltex’s wholly owned Canadian subsidiary is one of two vendors partnered with New Brunswick Power to build reactors at Point Lepreau Nuclear Generating…

When a Chinese pork producer filed for bankruptcy in 2019, the news came as a jolt to Alan Hill. The retired Apple executive from Albuquerque had invested about $100,000 last decade in Dalian Chuming Meat Processing through a U.S.-listed holding company, Energroup Holdings. Chuming had not paid dividends for many years, but it supplied pork to Walmart and had been profitable at least as recently as 2016.

A decision by a Chinese court in Dalian to place Chuming into liquidation in 2021, a three-year process during which the company auctioned off assets and repaid debt, meant U.S. shareholders had to drop their pursuit of unpaid dividends.

For Hill, who turns 86 in May, the loss of his funds has been painful.

“I feel cheated,” he said. “I…

Open this photo in gallery:

A law firm representing some Hudson’s Bay Co. employees is raising the alarm about long-term disability payments, which are paid out of the company’s cash and are uninsured, leaving people at risk of losing their benefits as the retailer liquidates its operation.

“This is a ticking time bomb,” said Andrew Hatnay of Koskie Minsky LLP, which he says has been retained by more than 250 current and recently terminated Hudson’s Bay employees, as well as retirees, seeking representation as the retailer attempts to restructure or sell part of the business.

The issue, Mr….

Hudson Regional Hospital has officially taken control of Hudson County’s struggling CarePoint Health System, establishing a new, countywide health network.

On Friday, a federal bankruptcy court judge confirmed CarePoint’s plan to exit bankruptcy and hand over control of its three hospitals ― Christ Hospital in Jersey City, Bayonne Medical Center and Hoboken University Medical Center — to Hudson Regional, according to a press release.

The management agreement makes Hudson Regional the official owner and operator of all three CarePoint hospitals, which were on the brink of closing after accumulating massive debt. Hudson Regional has owned the Bayonne Medical Center property since July 2020.

“This is a threshold moment for Hudson…

By Wandoo Sombo

The Business Recovery and Insolvency Practioners Association of Nigeria (BRIPAN) is collaborating with the Federal High Court to improve the efficiency of insolvency procedures in the country.

 The President of the association, Mr Chimezie Ihekweazu, SAN, made this known on Monday in Abuja when he led members of BRIPAN on a visit to the Chief Judge (CJ) of the court, Justice John Tsoho.

Ihekweazu said that the collaboration is aimed at enhancing business recovery administration.

He said that the association had been looking for ways to bring ailing companies back to life adding that the step the court took in establishing a solvency unit was a breath of fresh air as it would go a long way in ensuring the survival…