Page 176 - Restructuring News Today

SFL Corporation: SFL - Update on Seadrill Restructuring SFL Corporation Ltd. (NYSE: SFL) ("SFL" or the "Company") announced today that, according to public filings, Seadrill Ltd. and most of its subsidiaries ("Seadrill") filed Chapter 11 cases in the Southern District of Texas, USA (the "Chapter 11 Proceedings"). In connection with Seadrills Chapter 11 Proceedings, SFL and certain of its subsidiaries have entered into agreements relating to two of the Companys drilling rigs that are chartered ...

Hainan Airlines to transfer USD11bn debt to affiliates Hainan Airlines announced (09-Feb-2021) plans to transfer interest bearing debts worth up to CNY72.5 billion (USD11.3 billion) to affiliates including HNA Group to let them repay. Hainan Airlines said the move was part of a plan to dispose of its debts after its creditors applied for the companys bankruptcy and restructuring at the end of Jan-2021. The carrier stated 147 of the 203 members of the creditors committee, which holds 81.24% of ...

BNY Mellon IM to divide Mellon Investments active expertise across boutiques CEO Mac Intyre to leave following restructure CEO of BNY Mellon Investment Management Hanneke Smits BNY Mellon Investment Management is set to break up parts of its US-based Mellon Investments business, dividing expertise, strategies and staff across its multi-boutique range. The shake-up, which will see Mellon CEO Des Mac Intyre depart after 13 years with the firm, will include Newton Investment Management taking on ...

Heidelberger Druckmaschinen Q3 EBITDA, Excl. Restructuring Result, Rises BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Heidelberger Druckmaschinen AG (HBGRF.PK) reported that its third quarter net result after tax improved year-on-year to 12 million euros from 7 million euros. EBITDA excluding restructuring result increased to 50 million euros from 47 million euros. EBITDA margin excluding restructuring result was 10.4%, for the quarter. Operating result (EBIT excl. restructuring result) increased to 30...

Gbenga Adeniji The National Chairman, Afenifere Renewal Group, Mr Wale Oshun, has advised the pioneer National Chairman of the All Progressives Co...

‘In Q4, we are looking at growing the business, but methodically’ Surabhi Mumbai | Updated on Nitin Chugh, Managing Director and CEO, Ujjivan Small Finance Bank   -  BusinessLine× ‘Credit demand has started returning as people get back to their livelihoods. Disbursement is even stronger in January. Demand is coming from across sectors’ The micro-finance sector is showing signs of improvement barring some lagging areas and customer sets. However, there is demand for credit, said Niti...

Shutterstock London partners Adam Gallagher and James Watson join as European investment drive continues Simpson Thacher & Bartlett has hired a pair of experienced insolvency lawyers to help establish a European restructuring practice in London. Adam Gallagher and James Watson join as partners from Freshfields Bruckhaus Deringer and Kirkland & Ellis respectively as the firm gears up for a potential rise in companies facing financial distress as a result of recent market disruptions, including...

Commerzbank posts 2.9 bln euro loss on virus, restructuring woes

Beijing: Jack Ma’s Ant Group has reached a deal with Chinese regulators to restructure its business after they raised issues that halted its $37 billion initial public offering last year,...

Advertisement Consolidated Appropriations Act of 2021 Amends Bankruptcy Code Part 3: Congress Gives Suppliers and Landlords a Shiny New Arrow in their Quiver to Challenge Tuesday, February 2, 2021 As discussed in previous posts, the Consolidated Appropriations Act of 2021 (the “Act”) was signed into law on December 27, 2020, largely to address the harsh economic impact of the COVID-19 pandemic.  For bankruptcy litigators – or any business which has been frustrated to receive ...