According to sources familiar with the matter at hand, China Evergrande’s offshore bondholders have yet to receive their due coupon payment by the close of Asia business on Wednesday, despite the cash strapped Chinese developer reaching a $1.5 billion debt… Read More ›
In a statement property developer Limitless said, it is close to signing an agreement with creditors over around $760 million of troubled debt, marking its third restructuring in a decade. Dubai state-owned Limitless along with Nakheel, was among the biggest… Read More ›
In a stock exchange filing, AirAsia X Bhd said, the Malaysian high court has granted it a nine-month extension on a restraining order preventing creditors from filing any legal proceedings against it. Earlier this year in March, the Malaysian high… Read More ›
On Tuesday, a legal adviser to Thai Airways International Pcl said, it has won court approval for a restructuring plan; the development comes when the airline is under bankruptcy protection and is seeking a turnaround of its fortunes. The Central… Read More ›
In a report, Lebanon’s broadcaster LBC quoted the country’s Finance Minister Ghazi Wazni as saying Lebanon will resort to a disorderly default if creditors are not prepared to negotiate; he went on to add, investors will find it difficult to… Read More ›
On Friday, according to two sources with direct knowledge of the matter at hand, Japan Display Inc, an Apple supplier, is likely to get a three-month extension in credits worth $985 million (107 billion yen) from its three main creditors…. Read More ›
The development will alleviate short term liquidity problems for the airlines. Long term issues however will need to be dealt with. Asiana has taken on considerable debt. On Tuesday, South Korea’s finance minister Hong Nam-ki stated, South Korean creditors plan… Read More ›
Creditors for debt-laden South Korean airlines will come up with a financial support plan either by late April or early May. On Tuesday, as per a statement from the Korea Development Bank, the principle creditor of Asiana Airlines, creditors are… Read More ›
With the auction bids not being superior to the plan of reviving the plan, creditors and stakeholders are of the view that reviving the Toys ‘R’ Us and Babies ‘R’ Us brand is the best way forward. In a significant… Read More ›
Firestar Diamond and its affiliates had shown around $90 million in annual sales in the previous year. Its bankruptcy filing documents reveal some interesting tidbits including its corporate structure and the fact that it is talking with lenders for debtor-in-possession… Read More ›
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