Insolvency Guardian Media Centre
BALTIMORE, Sept. 20, 2018 /PRNewswire/ — Under Armour, Inc. (NYSE: UA, UAA) today announced an update to its 2018 restructuring plan based on an organizational and process redesign intended to optimize the company’s strategic growth initiatives and overall business performance.
Previously, the company expected to incur total estimated pre-tax restructuring and related charges of approximately $190 million to $210 million in connection with its 2018 restructuring plan. Following further evaluation, the company has identified approximately $10 million of cash severance charges related to an approximate 3 percent reduction in its global workforce. Accordingly, it now expects approximately $200 million to $220 million of pr…
Read the full article at: https://markets.businessinsider.com/news/stocks/under-armour-updates-2018-restructuring-plan-and-full-year-2018-outlook-1027550792
The industry body, which is made up of Turkeys biggest banks, has agreed to a set of guidelines that were made public on Thursday but are dated September 11.
The plan is to help stave off mass default in the country and enable the commercial loan debtors which
…
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: [email protected]
Corporate access
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: [email protected] or find out more online here.
Read the full article at: https://www.globalcapital.com/article/b1b15bsl1gzkbm/turkeys-lenders-agree-debt-relief-for-corporates
Gateley Plc, the legal business of law-led professional services group Gateley, is bringing together a group of heavyweight speakers and thought leaders to explore how businesses need to build resilience in order to survive and be successful in an increasingly uncertain world.
The conference will be delivered in partnership with TheBusinessDesk .com and the Confederation of British Industry (CBI).
The event will see business leaders, entrepreneurs and experts assemble from the fields of economics, retail, manufacturing and cyber security, including Steve Richards, CEO of Casual Dining and Vanda Murray OBE, chair of the board at Marshalls.
The conference will be held at the Hilton Hotel Deansgate in Manchester on Wednesday 31 October…
Read the full article at: http://www.thebusinessdesk.com/northwest/news/2028661-gateley-plcs-restructuring-conference-focuses-helping-businesses-create-resilience-ever-complex-world
Dear Dave,
My husband started his own one-man, small business as a handyman a little less than a year ago. He has netted $17,000 in that time, but the business has about $13,000 worth of debt. Weve always kept personal finances and business separate, but what would you think about us selling one of our paid-for cars to help with the business debt?
Robin
Dear Robin,
Theres nothing wrong with small beginnings. On top of that, you should always keep your business and personal finances separate. Aside from the debt, it sounds like hes off to a good start.
I think youll be able to pay off the debt from your future income. If your husband started his business less than a year ago, he has spent that time trying to get things…
Read the full article at: https://www.ohio.com/business/20180918/dave-ramsey-sell-personal-car-to-help-pay-business-debt
In June, the US Federal Reserve raised the cash rate for the seventh time since 2015. No sooner had it announced the news, than the market immediately factored in another two rate rises before Christmas.
Usually, a series of rate increases like this happens as an economy is growing apace. That is, when the economy is growing at full stream.
The idea being that a higher cost of money reduces demand. Not only with increased borrowing costs for businesses, but consumers spending less as they have less money in their pockets.
Getting the timing right is no easy feat
As we know, though, getting the timing right is no easy feat. Raise rates too early, and you kill the economy just as its getting on its feet.
Raise rates too late, th…
Read the full article at: https://www.marketsandmoney.com.au/the-feds-real-debt-conundrum/2018/09/20/
The recent hearings into the suitability of Judge Brett Kavanaugh to serve on the Supreme Court of the United States have raised many important questions. Kavanaugh faces serious scrutiny regarding allegations of sexual assault, as has been widely reported.
We look today though at his views toward sports betting integrity. Prior to the assault allegations, Kavanaughs confirmation hearings have divided the public and elected officials along ideological lines, with many Democrats arguing that Kavanaughs past statements, opinions, and scholarship are disqualifying. Many Republicans argue Kavanaugh is an accomplished jurist in the mold of many conservative judges before him who were confirmed, often with bipartisan support.
The earlier debate…
Read the full article at: https://www.legalsportsreport.com/24231/brett-kavanaugh-sports-betting/
NEW DELHI: The Supreme Court on Wednesday vowed to plug loopholes in the working of Insolvency and Bankruptcy Code (IBC) proceedings, which came to the fore during the ongoing intense fight between ArcelorMittal and Numetal to disqualify each other from bidding to revive debtridden Ruias-led Essar Steel.
A bench of Justices R F Nariman and Indu Malhotra, which had earlier said it would rule against National Company Law Tribunal interfering time and again during the process for finalisation of resolution plan for a debtridden company by Insolvency Resolution Professional (IRP) and Committee of Creditors (CoC), said the working of IRP and CoC too needed streamlining.
All that the IRP does it to examine the bids, finalise it and place i…
Read the full article at: https://timesofindia.indiatimes.com/india/sc-vows-to-plug-gaps-in-insolvency-law/articleshow/65879712.cms
Advertisement
Campaign Against Impunity (CAI), a civil society group has called on regulators in the oil, gas, and maritime sectors, to wade into the forced liquidation of Sea Trucks Group (STG), an indigenous company, by some expatriates.
The group made the call in a series of letters addressed to the Nigerian National Petroleum Corporation (NNPC), the National Petroleum Investment Management Services (NAPIMS), the Nigerian Content and Development Monitoring Board (NCDMB), and the Nigerian Maritime Administration and Safety Agency (NIMASA).
TheCable had reported the alleged takeover of STG owned by Jacques Roomans, a Dutch-Nigerian.
Insider information revealed that expatriates led by Fraser Moore, owner of Telford Offshore, allegedly coo…
Read the full article at: https://www.thecable.ng/289636-2
THE owners of Wiggins Island Coal Export Terminal have received an eight-year respite on debt repayments, which some feared would lead to the facility’s demise.
A New South Wales Court has given the go-ahead to a $3.5billion refinancing plan, hoped to help the miner owners handle its senior debt.
The deal comes ahead of the September 30 deadline when Glencore, Aquila Resources, New Hope Group, Coronado Curragh and Yancoal had to begin repayments or refinance the debt.
The group will now have the maturity of $3.5billion in senior debt extended until September, 2026.
Allens partner Nick Adkins, who has been involved in the legal representation of the 23 senior lenders since 2010, said the result showed there was su…
Read the full article at: https://www.news-mail.com.au/news/court-approves-wicets-35b-debt-lifeline/3525851/
THE owners of Wiggins Island Coal Export Terminal have received an eight-year respite on debt repayments, which some feared would lead to the facility’s demise.
A New South Wales Court has given the go-ahead to a $3.5billion refinancing plan, hoped to help the miner owners handle its senior debt.
The deal comes ahead of the September 30 deadline when Glencore, Aquila Resources, New Hope Group, Coronado Curragh and Yancoal had to begin repayments or refinance the debt.
The group will now have the maturity of $3.5billion in senior debt extended until September, 2026.
Allens partner Nick Adkins, who has been involved in the legal representation of the 23 senior lenders since 2010, said the result showed there was su…
Read the full article at: https://www.gladstoneobserver.com.au/news/court-approves-wicets-35b-debt-lifeline/3525851/
Labour would ban the use of credit cards to place bets, affecting billions of pounds of transactions a year, as part of a crackdown on the gambling industry designed to tackle an epidemic of addiction.
Deputy leader Tom Watson will this week publish the conclusions of the partys year-long review of gambling regulations, which were liberalised under Tony Blairs government in 2007.
The full list of proposals will not be revealed until Thursday, but they include a blanket ban on the use of credit cards to bet, a practice that campaigners have said risks miring gamblers in ever greater debt.
Companies in the online gambling sector have indicated that 10%-20% of their £43bn in annual deposits, or up to £8.6bn, are made using credit cards…
Read the full article at: https://www.theguardian.com/society/2018/sep/19/tom-watson-labour-would-ban-gambling-with-credit-cards
Orla Kiely, the brand known for its 1970s-inspired prints, has closed its stores and website in the UK and Ireland after its parent company, Kiely Rowan, called in administrators.
The company, owned by Irish designer Kiely known as the queen of prints and her husband, Dermott Rowan, said it was entering voluntary liquidation following various challenges that have faced the company over the past few years, both in the UK and abroad.
David Ruben & Partners have been appointed as administrators to handle the winding down of the handbag and fashion business, which includes stores on Kings Road and Seven Dials in London and one in Kild…
Read the full article at: https://www.theguardian.com/business/2018/sep/19/orla-kiely-queen-of-prints-designer-goes-into-administration