PG&E is restructuring its board following the deadly wildfires that caused severe and extensive damage in California last year.

The company, which is Californias biggest utility, expects just five out of 10 of its current directors to stand for re-election at an annual shareholder meeting scheduled for May 21, the Associated Press reports.

We fully understand that PG&E must re-earn trust and credibility with its customers, regulators, the communities it serves and all of its stakeholders, the utility said in a statement. We recognize the importance of adding fresh perspectives to the Board to help address the serious challenges the business faces.

Last month, PG&…

Read the full article at: http://fortune.com/2019/02/11/pge-reshapes-board-wildfires/

MANY families are bearing the burden of problem debt as households see their outgoings surpass their income for the first time in nearly 30 years.

The average person has outgoings of 26,800 a year but only has a disposable income of 20,200, says the Office for National Statistics (ONS).

This means they need 6600 a year more than they take home after tax. Debt has been ballooning since 2013, and unsecured borrowing has now hit an all-time high.

Glenn Everett from the ONS said people were more gloomy about their well-being.

He said This may be due to worries about rising debt repayments, which could be driving concerns about their future financial situation.

Benefit changes with rising living costs have hit many people with more than …

Read the full article at: https://www.dailyrecord.co.uk/lifestyle/money/grips-your-debts-experts-give-13967432

Nexus Law Group has added three senior lawyers as group principals.

Maria Monastiriotis, Tara Lucke, and Claudio Venegas have joined the firm. Monastiriotis and Venegas join the firms Sydney office, while Tara Lucke will be based on the Gold Coast, the firm said.

All three bring their own unique insights and perspectives in their areas of expertise and their contributions will have a significant impact to the Nexus Group as move forward, including as we deploy the OpenLaw smart contracts platform, said Marcus McCarthy, Nexus founder.

Monastiriotis, who is the former family practice leader at Slater and Gordon in Sydney, brings to the firm more than 25 years experience. An accredited family law special…

Read the full article at: https://m.australasianlawyer.com.au/news/nexus-gains-three-group-principals-260233.aspx

Nexus Law Group has added three senior lawyers as group principals.

Maria Monastiriotis, Tara Lucke, and Claudio Venegas have joined the firm. Monastiriotis and Venegas join the firms Sydney office, while Tara Lucke will be based on the Gold Coast, the firm said.

All three bring their own unique insights and perspectives in their areas of expertise and their contributions will have a significant impact to the Nexus Group as move forward, including as we deploy the OpenLaw smart contracts platform, said Marcus McCarthy, Nexus founder.

Monastiriotis, who is the former family practice leader at Slater and Gordon in Sydney, brings to the firm more than 25 years experience. An accredited family law special…

Read the full article at: https://www.australasianlawyer.com.au/news/nexus-gains-three-group-principals-260233.aspx

The Supreme Court (SC) on Monday dismissed a plea by 28 operational creditors of Essar Steel seeking to be heard by the National Company Law Tribunal (NCLT) before any decision was taken on ArcelorMittals bid for the company. The court also rejected their plea seeking a stay on the National Company Law Appellate Tribunals (NCLATs) order asking the NCLT Ahmedabad Bench to take a decision on ArcelorMittals bid by February 11.

Now, the NCLT will be able to decide the fate of ArcelorMittals bid quickly.

The court was of the opinion that the promoters of Essar Steel were acting through the operational creditors to delay the insolvency process. It said 571 days had passed since the inso…

Read the full article at: https://www.business-standard.com/article/companies/sc-clears-hurdle-for-essar-case-rejects-pleas-by-operational-creditors-119021101169_1.html

Arconic Inc., headquartered in New York City, has reported its financial results for the fourth quarter and full year of 2018 and announced a restructuring of the company into two separate firms.

After a rigorous and comprehensive process, we did not receive a proposal for a full-company transaction that we believe was in the best interests of our shareholders, Arconic Chairman and Chief Executive Officer John Plant says. The board sees more shareholder value creation through a restructuring of the company. As part of the strategy and portfolio review, we have determined to separate the portfolio into Engineered Products & Forgings and Global Rolled Products. In addition, we will also explore the potential sale of businesses that…

Read the full article at: http://www.recyclingtoday.com/article/arconic-2018-q4-final-financial-results/

Arconic Inc., headquartered in New York City, has reported its financial results for the fourth quarter and full year of 2018 and announced a restructuring of the company into two separate firms.

After a rigorous and comprehensive process, we did not receive a proposal for a full-company transaction that we believe was in the best interests of our shareholders, Arconic Chairman and Chief Executive Officer John Plant says. The board sees more shareholder value creation through a restructuring of the company. As part of the strategy and portfolio review, we have determined to separate the portfolio into Engineered Products & Forgings and Global Rolled Products. In addition, we will also explore the potential sale of businesses that…

Read the full article at: https://www.recyclingtoday.com/arconic-2018-q4-final-financial-results.aspx

A 24-year-old windows and conservatories company in North Somerset has gone into liquidation after falling into financial difficulties.

Brorn Windows, which is based in Congresbury, designs and fits windows and conservatories across the Bristol area.

The company has employed an insolvency practitioner to oversee the winding up of the business and pay off its creditors.

But customers, who may have work unfinished on their homes or have paid for services from Brorn, will be unable to claim a refund as the insolvency practice says there is no money in the pot.

This is despite the companys director Stephen Brett restructuring the business and setting up again as a sole trader with his staff.

A spokesperson for the insolvency prac…

Read the full article at: https://www.bristolpost.co.uk/news/business/brorn-windows-collapse-liquidation-refunds-2531653

LAFAYETTE, La., Feb. 11, 2019 (GLOBE NEWSWIRE) — PetroQuest Energy, Inc. today announced that the conditions to effectiveness of the Companys Chapter 11 Plan of Reorganization, which was confirmed by the United States Bankruptcy Court for the Southern District of Texas on January 31, 2019, have been satisfied and the Company has emerged from bankruptcy. Through this process, the Company has enhanced its balance sheet position by eliminating approximately $295 million in debt and preferred equity obligations from its balance sheet.

The Companys post-restructuring balance sheet includes $130 million of debt outstanding, consisting of $80 million in aggregate principal amount of its 10% Senior Secured PIK Notes due 2024 and a $50 millio…

Read the full article at: https://globenewswire.com/news-release/2019/02/11/1716468/0/en/PetroQuest-Energy-Announces-Successful-Completion-of-Financial-Restructuring-Provides-2018-Estimated-Proved-Oil-and-Gas-Reserves-and-Production.html

LONDON, Feb. 11, 2019 /PRNewswire/ –As consumers continue to face increasing debt levels and expenses, new data from Auriemma Consulting Group suggests that balance transfer offers continue to be an effective tool for consumers who are struggling to pay down their debt.

Balance transfers can help consumers better organise and pay down their debts by consolidating payments to one institution, often at a competitive interest rate, sometimes as low as 0% APR. The result: 49% of balance transfer customers report that they have seen a decrease in their total debt level since taking the balance transfer, versus only 25% that report increasing their total outstanding balances.

“Balance transfers can be a win-win for issuers and …

Read the full article at: https://www.prnewswire.co.uk/news-releases/how-balance-transfers-help-consumers-manage-debt-says-auriemma-consulting-group-873936593.html

The twentieth meeting of the Committee of Creditors of the Corporate Debtor was held on 02 February 2019 at 11:00 AM at Ambition Room, Grant Thornton India LLP, 16th Floor, Tower II, India bulls Finance Centre, Senapati Bapat Marg, Elphinstone (W), Mumbai 400013, India.

The outcome of the meeting is summarized as herein below:

1. Discussions were held between the RP and the members of the CoC with respect to distribution of proceeds, received under the approved resolution plan, to the members of the CoC. Pursuant to this, it was decided that the two methodologies under consideration, will be put to vote with respect to distribution of resolution proceeds.

Pdf Link:
Ramsarup Industries Ltd. – Corporate Insolvency Resolution Process (CIRP)…

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/article26235739.ece