Page 174 - Restructuring News Today

MAG group chief executive officer Izham Ismail said the longer-term vision of MAG is to establish itself as a leading global travel group. PETALING JAYA: Malaysia Aviation Group (MAG), the parent company of Malaysia Airlines, will now be able to realise its restructuring plan for the national carrier, with the UK court approval for a scheme of arrangement with its creditors. MAG said in a statement now that the scheme had been formally sanctioned by the UK court, the airline could proceed to im...

President Cyril Ramaphosa has been approached to help fix the SABC's funding model.

Markets may open positive, but volatility could squeeze traders × Sharp slide in Nasdaq may see Indian IT stocks come under pressure; RIL’s restructuring announcement could help keep index heavyweights firm Indian markets are expected to open on a positive note on Tuesday, as SGX Nifty points to a gap up opening of at least a 100 points. However, volatility is likely to hurt investors’ sentiment, as mixed signals emerge from Asia-Pacific markets and from the US markets overnight. The shar...

This was following a restructuring exercise announced by parent company Toyo Tire Corporation (Japan) on Feb 15. The restructuring saw Silverstone’s manufacturing operations ceased and the continuity of production of its tyres moved to its other wholly-owned subsidiary, Toyo Tyre Malaysia Sdn Bhd. In a statement, Toyo Tyre Sales and Marketing Malaysia Sdn Bhd administration and human resources general manager Gordon Jude Seneviratne said about 700 Silverstone employees would attend a job fair...

(AAX) has proposed a separate restructuring programme for its aircraft lessors that aims to tackle their concerns, citing chance to recover rental losses, a document seen by Reuters shows. The airline, an affiliate of AirAsia Group, has for months been trying to reconstitute 64.15 billion ringgit ($15.89 billion) of debt into 200 million ringgit of debt. More than a dozen creditors, mostly lessors, had intervened in court to challenge a proposal that would have meant a haircut for them of 99....

A new challenger has emerged in the private equity tussle for KPMG's UK restructuring services division as Epiris reportedly prepares to enter the fray.

Pfizer's already gracing headlines worldwide with its COVID-19 vaccine rollout. Now, it's making a big splash in Tampa Bay. The drug giant is opening a “global capability hub” in the city, bringing multiple services—including finance, human resources, digital, and sourcing—to one office. 

Malaysia's long-haul budget airline AirAsia X Bhd (AAX) has obtained court approval to convene creditor meetings, The Edge Financial Daily reported on Friday.

Faegre Drinker boosts restructuring group with twin US partner hires 19 February 2021 Richard Bernard and Scott Gautier join from Foley & Lardner and Robins Kaplan respectively Los Angeles Shutterstock Faegre Drinker Biddle & Reath has hired a pair of restructuring partners as it seeks to expand its US East and West Coast finance and restructuring practice group, part of a broader global push to grow its business in this area. Richard Bernard joins from Foley & Lardner in New York, while Scot...

HDI Global plots new strategy to expand liability line 18-02-2021 23-03-2017 Germany-based Talanx Groups industrial lines insurer HDI Global is restructuring its liability line leadership as it plots a new strategy to get closer to its customers in Europe while expanding its international footing. The rest of this article is locked. Please login to continue reading.   If you dont have a login, you will need to purchase a subscription to gain access to this article, and all the other content....