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TORONTO--(BUSINESS WIRE)--Postmedia Network Canada Corp. (Postmedia or the Company) today released financial information for the three and six months ended
Employees of Bhushan Steel Ltd recently objected to the bid from Tata Steel Ltd, which was eventually declared the successful applicant. Photo: Reuters
Mumbai: Noting the key role of employees in companies undergoing bankruptcy proceedings, lenders and bidders are paying extra attention to ensure resolution plans take care of their interest to avoid any disruption in operations.
Employees of Bhushan Steel Ltd recently objected to the bid from Tata Steel Ltd, which was eventually declared the successful applicant. At Gujarat NRE Coke, employees intervened to liquidate the company as going concern. Considering the appeal of around 1,200 permanent workers, the National Company Law Tribunal (NCLT) asked the liquidator to sell the companys asse…
TORONTO _ Cineplex Inc. is laying off a number of full-time workers.
The Toronto-based companys spokesperson Sarah Van Lange is refusing to say exactly how many jobs are being cut, but says the layoffs will impact less than 100 employees.
Lange says the cuts are part of a small restructuring happening at the entertainment giant.
She says the changes were prompted by a need to eliminate duplicate roles following several business acquisitions and a plan to roll out a diversification strategy.
The layoffs come as the company aims to reduce its expenses by about $25 million annually.
A man makes his way down an escalator during the Cineplex Entertainment company’s annual general meeting in Toronto on May 17, 2017.
Nathan Denette/The Canadian Press
Cineplex Inc. is laying off a number of full-time workers.
The Toronto-based companys spokesperson Sarah Van Lange is refusing to say exactly how many jobs are being cut, but says the layoffs will impact less than 100 employees.
Lange says the cuts are part of a small restructuring happening at the entertainment giant.
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She says the changes were prompted by a need to eliminate duplicate roles following several business acquisitions and a plan to roll out a diversification strategy.
TORONTO–(BUSINESS WIRE)–Postmedia Network Canada Corp. (Postmedia or the Company) today
released financial information for the three and six months ended
February 28, 2018.
Second Quarter Operating Results
Revenue for the quarter was $157.6 million as compared to $176.7 million
in the same period in the prior year, a decrease of $19.1 million or
10.8%. The revenue decline was primarily due to decreases in print
advertising revenue of $16.3 million or 18.8% and decreases in print
circulation revenue of $4.6 million or 7.9%. Digital revenue increased
by $2.4 million or 10.1% in the quarter with digital advertising revenue
up 12…
Should homeowners be treated as financial creditors in the real estate sector? This was the question that the Insolvency Law Reforms Committee recently addressed. Set up in December 2017, the 14 member committee has published a 106 pages long report, suggesting various amendments to the Insolvency and Bankruptcy Code 2016. One such amendment is that homeowners should be treated as financial creditors in the proceedings pertaining to real estate businesses. If this suggestion is implemented, homeowners could get some relief in the proceedings against unfinished real estate projects.
A good move, say experts
Initially, homeowners were placed below financial and operational creditors in th…
BELGRADE (Serbia), April 11 (SeeNews) – Serbia’s government said on Wednesday it signed a contract for the sale of insolvent tractor manufacturer Industrija Masina i Traktora (IMT) to Indian company Tafe for 66.8 million dinars ($699,000/565,000 euro).
By purchasing IMT, Tafe acquired the intellectual property rights of the company, which includes the brand, design plans and copyrights, as well as real estate in Jarkovac, northern Serbia, the government said in a statement.
The Indian company was the only bidder for the acquisition of IMT and its offer was approved on April 2.
Tafe intends to manufacture tractors under the IMT brand, with 50% of their parts to be made in Serbia, the vice president of the group, K…
Credit card debt relief is a means of combining all your debts into one monthly payment that best suits your budget. Debt consolidation could possibly be done with a debt consolidation loan. This is where your debt relief company will pay off the total amount to your creditors and you are due to pay your debt relief company back until all debts are paid. You could also take out this task by using a banks home equity loan option to pay off your debts and eliminate the high-interest rates.
Common methods for debt relief consolidation
When it comes to home equity loans it can be tricky when you are trying to consolidate unsecured debt when it comes secured with your house. If the payments are more than you can afford your home can…
The board of Blue Sky-owned artisan baker Wild Breads has appointed the advisory arm of McGrathNicol, a move that raises doubts about the financial health of the under-seige asset manager’s trophy investment.
In a statement to the Australian Securities Exchange on Wednesday, Blue Sky said that the board of Wild Breads had engaged with Inline Advisory which the company said is the consulting, not insolvency, arm of McGrathNicol.
Blue Sky said the appointment “was to help the board evaluate its business strategy, growth plans and capital structure requirements, including reviewing potential acquisitions”.
Annual profits have surged at Tesco as chief executive Dave Lewis completed an overhaul of the business to defy the gloom affecting the British high street and served up the groups first annual dividend since 2014.
Pre-tax profits at the supermarket chain climbed to £1.3bn in the 12 months to February. This was a rise of almost 800 per cent on the £145m the group reported the previous year, and a strong indication the company is putting troubles including competition from discount chains Aldi and Lidl and an accounting scandal in 2014 behind it.
On an operating profit basis, which excludes the effects of heavy exceptional costs Mr L…
A group of Missoulians came together to help pay off property debt owed by residents of trailer parks across the Garden City. Some of the homes from trailer parks across town have not yet paid their taxes, but with the generous support of the Missoula community their taxes will be paid for by Tuesday night. Shock, that’s what lead Svein Newman to start an online GoFundMe Page for more than 160 homes up for auction due to unpaid back taxes to Missoula County. “Its unconscionable to me that someone in our community should lose their home that they already own for a debt of less than 200 dollars,” said Newman. Newman said that he isn’t the only person looking to help out. “Some guy outside just gave me a 300 dol…
