Insolvency Guardian Media Centre
A German-based investment fund will take over high-profile yacht builders Bavaria.
A private equity fund advised by the Berlin-based investment company CMP Capital Management-Partners will acquire the entire business of Bavaria Yachtbau, the German-based builder of motorboats, sailboats and catamarans, and continue operations of the company. It will also acquire all shares in its French subsidiary Bavaria Catamarans SAS.
Bavaria fell into administration in April this year, however, was able to strike a temporary deal to maintain operations to fulfil a sizable order book obtained on the back of new model launches in 2017-18. The insolvency of Bavaria came as numerous management changes in recent years made an inherent strategy difficult. A…
Read the full article at: http://www.theherald.com.au/story/5655920/yacht-builder-bavaria-back-in-business/
There are a lot of differences between refinancing and consolidating debt. This is what you need to knowShutterstock
When it comes time to make a change to the structure of your business debt, you have a few options available to you as a small business owner. Each aims to make your debt less of a burden over time and reduce the overall cost to you. If evening out your cash flow or knocking a bit off that lifetime cost of your loan (or loans) sounds appealing, you may want to consider either consolidating or refinancing.
Consolidating and refinancing are two different approaches to restructuring your business loans, though you may (confusingly) hear the two terms used interchangeably. Lets explore the …
Read the full article at: https://www.forbes.com/sites/jaredhecht/2018/09/20/refinancing-vs-consolidating-business-debt-whats-the-difference/
A German-based investment fund will take over high-profile yacht builders Bavaria.
A private equity fund advised by the Berlin-based investment company CMP Capital Management-Partners will acquire the entire business of Bavaria Yachtbau, the German-based builder of motorboats, sailboats and catamarans, and continue operations of the company. It will also acquire all shares in its French subsidiary Bavaria Catamarans SAS.
Bavaria fell into administration in April this year, however, was able to strike a temporary deal to maintain operations to fulfil a sizable order book obtained on the back of new model launches in 2017-18. The insolvency of Bavaria came as numerous management changes in recent years made an inherent strategy difficult. A…
Read the full article at: https://www.theherald.com.au/story/5655920/yacht-builder-bavaria-back-in-business/?cs=6161
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
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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
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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/