Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Scores of ‘zombie companies’ have been kept alive in order to receive final government stimulus measures before being shut down, according to a leading insolvency expert.
Revive Financial partner Jarvis Archer said the “clean up” of zombie companies was under way with an increase in liquidation appointments across a range of industries. A ‘zombie company’ is defined as a failing firm that needs a bailout to successfully operate.
“While the end of JobKeeper has not brought the predicted tsunami of insolvency appointments, the numbers are bigger,” said Mr Archer.
“Many companies we’re seeing have been dormant for months, often since the first COVID lockdowns in early 2020, but have been kept open to obtain the final government stimul…
Sidley Austin is rebuilding the top end of its bankruptcy team by adding the former U.S. chair of DLA Pipers restructuring practice, Tom Califano, as a partner in its New York office.
The hire announced on Tuesday comes about six months after the co-leaders of Sidleys restructuring practice, Jessice Boelter and Bojan Guzina, departed for White & Case.
For Sidley, the hire could help stabilize its restructuring practice, which has been an important driver of growth for firms since the pandemic tested corporate Americas balance sheets. Levels of distressed debt remain elevated, and bankruptcy watchers anticipate a prolonged period of increased filings.
Califano also served as global co-chair of DLA Pipers restructuring group. He has been …
If you are feeling overwhelmed by your debt and think you would be better off if you had one payment instead of many, you might want to consider a debt consolidation loan. These loans allow you toreduce the number of debtsyou have and can help you manage that debt better. If you think this could be a good option for you, you may wonder how do you get a debt consolidation loan. Here are a few simple steps that could help you improve your financial situation.
Check Your Credit Score
Before you can get a debt consolidation loan, you will have to qualify for it. As with most loans and credit lines, the higher your credit score, the more likely you will be to get approved for a loan or balance transfer credit card, and the better your in…
It seemsthat patience is beginning to wear thinwith our seemingly never-ending mortgage crisis.
nd that position is not just held by those of a right-wing bent or those with little empathy for the plight of others.
Mortgage debt campaigner David Hall is among those who think it has all been going on for too long.
A new survey shows that the publics tolerance of the persistent arrears issue is evaporating.
Close to half of those surveyed by Red C for Bonkers.ie are strongly in favour of a tougher stance being taken against mortgage holders in serious arrears, if it leads to lower mortgage rates.
The difficulties in repossessing properties, including homes, is one of the key reasons homeowners in this country continue to pay disproportiona…
It seems the only advertisers these days are Harvey Norman, sports betting shops and Chemist Warehouse and Priceline with their pages of pills and unguents.
Indeed, the term health and wellness might be overused and even tautologous, but tell that to average households that spend many billions of dollars annually on cosmetics, dietary supplements and surgical nips and tucks.
According to Euromonitor, the Australian/New Zealand consumer healthcare market is worth $8.2 billion and has been growing at an average 7.7% per annum over the last five years.
For investors, maintaining the body beautiful has had the occasional ugly ending. In March, Wellness & Beauty Solutions (WNB) slid into voluntary administration after failing to lodge its fi…
The new Breathing Space and Mental Health Crisis Debt Respite Scheme will come into force on May 4 and could help up to 700,000 people per year with their debts
The Covid-19 pandemic has hit plenty of people hard through job losses and slashed incomes. But the governments new debt respite programme, known as the breathing space scheme, is set to help people from becoming trapped in problem debt.
A number of charities have been calling for the breathing space scheme over the last decade and the UK Government announced it would be brought into law back in 2019.
Scores of ‘zombie companies’ have been kept alive in order to receive final government stimulus measures before being shut down, according to a leading insolvency expert.
Revive Financial partner Jarvis Archer said the “clean up” of zombie companies was under way with an increase in liquidation appointments across a range of industries. A ‘zombie company’ is defined as a failing firm that needs a bailout to successfully operate.
“While the end of JobKeeper has not brought the predicted tsunami of insolvency appointments, the numbers are bigger,” said Mr Archer.
“Many companies we’re seeing have been dormant for months, often since the first COVID lockdowns in early 2020, but have been kept open to obtain the final government stimul…
NEW YORK–(BUSINESS WIRE)–Sidley Austin LLP is pleased to announce that Tom Califano is joining the firms global Restructuring group. Mr. Califano will be a partner in the New York office. He joins from DLA Piper where he was the global co-chair and U.S. chair of the restructuring group.
As a nationally-recognized restructuring lawyer, Mr. Califano represents large private and public companies both in and out of court, buyers of distressed companies and significant ad-hoc creditor constituencies with a particular focus on company and buyer-side representations. During his more than 30 years in practice, he has extensive experience working within multiple industries including healthcare, energy, and financial services restructurings….
Katie who was reported to have once boasted a fortune of more than 40million was formally declared bankrupt by a court in November 2019, after initially swerving bankruptcy in 2018 by entering an IVA (individual voluntary arrangement).
She told OK! Magazine: Ive been sucked dry in the past. I was mentally abused and broken by everyone.
Its not like I have skeletons in my closet but ever…
Houston-based Diamond Offshore Drilling has emerged from chapter 11 after completing a financial restructuring.
Diamond Offshore had been working on the restructuring since filing for chapter 11 in April 2020. The company has merged with a reduction of over $2.1bn of debt after the equitization of senior unsecured note obligations. It also has over $625m of new available capital.
Raj Iyer, the new chairman of Diamond Offshore, commented: I am extremely pleased to have such an experienced and uniquely qualified Board of Directors. They undoubtedly have the necessary financial and business expertise and industry knowledge to oversee Diamonds post-emergence strategy.
Ive had the opportunity to engage with the Companys stakeholders t…
