Insolvency Guardian Media Centre
- Forever 21 is reportedly considering teaming up with a private-equity firm to finance a large-scale restructuring plan.
- Though the retailer has long been a favourite among teen shoppers, its lost its footing amid rising competition from other low-priced apparel stores and trendy e-commerce companies.
- We shopped at a Forever 21 store to see why the brand is in need of a major overhaul.
As Forever 21 teeters on the brink of bankruptcy, the retailer is eyeing a private-equity bailout to fund its much-needed turnaround.
The fast-fashion brand is reportedly in talks with Apollo Global Management to help raise debtor-in-possession funds if the time ultimately comes for Forever 21 to file for bankr…
Read the full article at: https://www.businessinsider.com/forever-21-considering-restructuring-plan-store-photos-report-2019-6
State-owned lender Bank of Baroda (BoB) has declared Vijay Goverdhandas Kalantri, chairman and managing director of Dighi Port, as a “wilful defaulter” for not repaying his loans, suggested media report.
The leading industrialist Vijay Goverdhandas Kalantri and his son Vishal Kalantri, director of Dighi Port, owe nearly Rs 3,334 crore to a consortium of 16 Indian banks, including BoB, and Bank of India is the lead lender, the Economic Times reported.
The father-son duo had reportedly taken several loans from the bank to develop the port.
Balaji Infra, owned by Vijay Kalantri, holds 51.01 per cent stake in debt-laden Dighi Port, while Infrastructure Leasing & Financial Services (IL&FS) has 39.37 per cent in the port company.
The bank had repo…
Read the full article at: https://www.businesstoday.in/current/corporate/bank-of-baroda-tags-dighi-port-chairman-vijay-kalantri-as-wilful-defaulter/story/353969.html
In continuation of our earlier communication dated 31 May, 2019 regarding outcome of first meeting of CoC, we wish to inform you that the e-voting for the resolutions put to vote at the first meeting of the CoC of the Company commenced at 3 June, 2019, at 5:00 p.m. and concluded on 4 June, 2019 at 05:00 p.m.
The brief details of results of e-voting as required under Regulation 26(4) of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 is attached herewith as Annexure I.
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/reliance-communications-ltd-corporate-insolvency-resolution-process-cirp-updates-corporate-insolvency-resolution-process-cirp/article27504176.ece
This is to inform you that in accordance with the applicable provisions of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations), the Second Meeting of the Committee of Creditors of TAYO Rolls Limited (the Company / the Corporate Debtor), will be held on Thursday, 6th June, 2019 at 12:30 pm at VC Now, JMA Stores (P) Ltd., 3rd floor, Fair deal Complex, Main Road, Bistupur, Opposite Ram Mandir, Jamshedpur-831001.
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/tayo-rolls-ltd-corporate-insolvency-resolution-process-cirp-intimation-of-meeting-of-committee-of-creditors/article27492152.ece
NEW YORK–(BUSINESS WIRE)–CohnReznick LLP, one of the leading advisory, assurance, and tax firms
in the United States, has announced the addition of four partners and
principals to its Restructuring
& Dispute Resolution practice.
-
Cynthia
Romano, CTP, Principal, will join Kevin
Clancy in co-leading the practice, collectively responsible for
strategic growth, client relations, marketing, and talent development.
Romano has 25+ years of experience in performance improvement,
turnaround management, transaction support, and investment analysis
across a range of key industries, including healthcare, manufacturing,
technology, energy/o…Read the full article at: https://www.businesswire.com/news/home/20190604005926/en/CohnReznick-Adds-Partners-Restructuring-Dispute-Resolution-Practice
- Forever 21 is exploring a restructuring deal to turn around its business, Bloomberg reported, citing people familiar with the matter.
- Forever 21 is a private company and does not release financials. However, in recent years the teen-focused chain has shown signs of struggle, especially in its international locations, where it has closed several stores.
- A spokesperson for Forever 21 did not immediately respond to Business Insiders request for comment.
- Visit Business Insiders homepage for more stories.
Fast-fashion retailer Forever 21 is reportedly exploring a restructuring deal to turn around its business.
The Los Angeles-based chain is in talks with private-equity firm Apollo Global …
Read the full article at: https://www.businessinsider.com.au/forever-21-explores-restructuring-deal-report-2019-6
Wells Fargo has restructured the leadership of its commercial banking operations as the San Francisco bank continues to shuffle the decks of its management ranks.
Wells promoted five executives to newly created positions within commercial banking three are leaders of regional groups and two will have nationwide oversight roles. The promotions took effect Tuesday.
The new commercial banking division structure will help Wells provide better local service and expertise to industry sector groups, said Kyle Hranicky, executive vice president and head of commercial banking.
Wells Fargo
All five of the executives who were promoted on Tuesday will report to Hranicky, who is based in Houston. The commercial bank…
Read the full article at: https://www.americanbanker.com/news/wells-fargo-names-leaders-of-restructured-commercial-banking-group
Notice of 13th Meeting of Committee of Creditors of SOUTHERN ONLINE BIO TECHNOLOGIES LIMITED
Notice along with Agenda for the 13th Meeting of the Committee of Creditors of Southern Online Bio Technologies Limited (under Corporate Insolvency Resolution Prodess) under the provisions of The Insolvency and Bankruptcy Code, 2016 read with Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.Day & Date: Tuesday, 6th June, 2019
Time; 4.00 P.MBank of India
Telangana Zonal Office, PTI Building, 2nd Floor,
A.C. Guards, Hyderabad-500004.………………
………………
………………Yours sincerely,
For Southern Online Bio Technologies Limited
Kalpana G
Resolution Professional of SBTL, Ph…Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/southern-online-bio-technologies-ltd-corporate-insolvency-resolution-process-cirp-intimation-of-meeting-of-committee-of-creditors/article27472049.ece
Israel Postal Company branch in Jerusalem 390 (R).
(photo credit: Ronen Zvulun / Reuters)
Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before.
Nevertheless, traditional business models are no longer sustainable and high-quality publications,
like ours, are being forced to look for new ways to keep going. Unlike many other news organizations,
we have not put up a paywall. We want to keep our journalism open
and accessibl…Read the full article at: https://www.jpost.com/Israel-News/Postal-Bank-launches-prepaid-card-591592
Blockport, a cryptocurrency exchange based in the Netherlands, has been been forced to close due to lack of operating capital, but its vowed to return.
According to a filingreported by The Next Web, the official operating entity, Blockport BV, was declared bankrupt in a court in Amsterdam on May 21. The platform ceased services at the end of May, as announced in a blog post (although the website is still online as of writing).
In the post, co-founder and chief product officer Sebastiaan Lichter said that following the exchanges failed security token offering which had a 1 million ($1.12 million) soft cap we have decided to drastically scale down our operations and development.
Lichter wrote:
Running our operations and plat…
Read the full article at: https://www.coindesk.com/dutch-crypto-exchange-blockport-shuts-down-vows-to-return
- Forever 21 is exploring a restructuring deal to turn around its business, Bloomberg reported, citing people familiar with the matter.
- Forever 21 is a private company and does not release financials. However, in recent years the teen-focused chain has shown signs of struggle, especially in its international locations, where it has closed several stores.
- A spokesperson for Forever 21 did not immediately respond to Business Insiders request for comment.
- Visit Business Insiders homepage for more stories.
Fast-fashion retailer Forever 21 is reportedly exploring a restructuring deal to turn around its business.
The Los Angeles-based chain is in talks with private-equity firm Apollo Global …
Read the full article at: https://www.businessinsider.com/forever-21-explores-restructuring-deal-report-2019-6
The Twenty-Fifth meeting of the Committee of Creditors of the Corporate Debtor was held on 22 May 2019 at 1:00 P.M. at Ambition Room, Grant Thornton India LLP, 16th Floor, Tower II, Indiabulls Finance Centre, Senapati Bapat Marg, Elphinstone (W), Mumbai 400013, India.
The outcome of the meeting is summarised as herein below:
1. The RP informed the CoC that the Resolution Plan as approved by the CoC on 16 March 2019 was
filed with the Honble NCLT Kolkata on 22 March 2019. The RP also apprised the members of the
other applications filed before courts in the CIRP of the Corporate Debtor.
2. The RP apprised the CoC regarding the paucity of funds for meeting the CIRP expenses and further
emphasised to the CoC about the urgency of payments against …Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/ramsarup-industries-ltd-corporate-insolvency-resolution-process-cirp-outcome-of-meeting-of-committee-of-creditors/article27466736.ece
