Insolvency

Leonard LoBiondo Joins Talen Energy Supply as Executive Vice President of Restructuring

Retrieved on: 
Monday, May 16, 2022
CPA, Title 11 of the United States Code, Allegheny Health Network, Company, TES, United States bankruptcy court, American Institute of Certified Public Accountants, Leadership, Villanova University, Talen Energy, File, American Institute, CPAS, Sunbeam Products, Association, NRG Energy, Sunbeam, Graphic Arts Education and Research Foundation, Bankruptcy, Certified Public Accountant, TWA, Arthur Andersen, CIRA, TRF, Insolvency, 2018 United States House of Representatives elections in New Jersey, Rollerball (1975 film), Kaspien, Education, Management, Accounting, Deloitte, Solutia

HOUSTON, May 16, 2022 /PRNewswire/ --Talen Energy Supply ("TES" or the "Company") announced today that it has appointed Leonard LoBiondo to the role of executive vice president of restructuring.

Key Points: 
  • HOUSTON, May 16, 2022 /PRNewswire/ --Talen Energy Supply ("TES" or the "Company") announced today that it has appointed Leonard LoBiondo to the role of executive vice president of restructuring.
  • Mr. LoBiondo brings over 30 years of restructuring experience to TES and will report directly to the Company's CEO Alex Hernandez.
  • This transformation must also be accompanied by balance sheet repair and equity capital to drive long-term success of the Talen Cumulus platform and our people," said Alex Hernandez, Chief Executive Officer, President, and Director of TES.
  • 22-90054.Talen Energy Corporation, Cumulus Growth subsidiaries, LMBE-MC Holdco II LLC and its subsidiaries, and Talen Receivables Funding (TRF) are not part of the filing.

Indian Data Center Market Outlook to 2027 - by Types, Infrastructure Types, Applications and Regions - ResearchAndMarkets.com

Retrieved on: 
Tuesday, April 26, 2022
Technology, Data Management, Cloud, Insolvency, Government, IBC, Entertainment, COVID-19, Telecommunication, Bankruptcy Code, CAGR, Sustainable Energy Utility, Department, Artificial intelligence, Growth, Adoption, Insurance, Dot, Policy, Digital India, Mobile phone

The "India Data Center Market Outlook" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "India Data Center Market Outlook" report has been added to ResearchAndMarkets.com's offering.
  • The India Data Center Market report comprehensively covers the market by types, infrastructure types, verticals and regions.
  • According to the publisher, India Data Center Market size is projected to grow at a CAGR of 10.7% during 2021-2027.
  • Adoption of these technologies would lead to an increase in data volume and network bandwidth requirements, thereby resulting in the growing demand for the data center market in the forecast period.

BC Craft Announces the Filing of a Proposal to its Creditors and Corporate Update

Retrieved on: 
Friday, April 8, 2022
PST, Official receiver, Company, End-user license agreement, Psychotherapy, Sale, Medicine, Bankruptcy, Mental health, Forward-looking statement, Legislation, Insolvency, THIS, THE, Proposal, HAS, Twitter, Health Canada, GLOBE, Psilocybin, Phrase, News, AVA, Cannabis, CSE, Security (finance), Online gambling, Safari

Once implemented, the Proposal will be effective and binding on all affected creditors.

Key Points: 
  • Once implemented, the Proposal will be effective and binding on all affected creditors.
  • In the event the Proposal receives the requisite support at the creditors' meeting, CRFT will file an application to the British Columbia Supreme Court to seek court approval of the Proposal.
  • About BC Craft Supply Co. Ltd.
    BC Craft Supply Co. Ltd. is a diversified wellness company advancing cannabinoid and psychedelic innovation and psychotherapy.
  • BC Craft works with local artists cross-sector and remains fervently committed to keeping the art, technique, and purity of their pursuit.

Leading Bankruptcy Partner Set J. Kleinman Joins Morrison & Foerster

Retrieved on: 
Tuesday, March 29, 2022
Private law, Pritzker School, Northwestern University Pritzker School of Law, Morrison & Foerster, University, United States bankruptcy court, Veteran, Sale, NEW, Leadership, Chewy (company), Glass, United States Bankruptcy Court for the Southern District of New York, Health, Transport, Business, Cornerstone Research, Culture, Mining, Title 11 of the United States Code, Borden Dairy, Color, Clos, Environment, Woman, Insolvency, Mofo, The American Lawyer, Financial technology, Bankruptcy, Civil and political rights, Agriculture, Mineral, Technology, Chambers, PetSmart, Morrison, Law, Lawyer, Security (finance), Financial services, Kleinman

NEW YORK, March 29, 2022 /PRNewswire-PRWeb/ --  Morrison & Foerster, a leading global law firm, is pleased to announce the arrival of Seth J. Kleinman as a partner in the firm's Business Restructuring & Insolvency Group (BRIG). He will have a dual presence in New York and Chicago. Kleinman joins from another prominent global firm and brings close to two decades of corporate restructuring, bankruptcy, and insolvency experience to Morrison & Foerster.

Key Points: 
  • NEW YORK, March 29, 2022 /PRNewswire-PRWeb/ -- Morrison & Foerster , a leading global law firm, is pleased to announce the arrival of Seth J. Kleinman as a partner in the firm's Business Restructuring & Insolvency Group (BRIG).
  • Kleinman joins from another prominent global firm and brings close to two decades of corporate restructuring, bankruptcy, and insolvency experience to Morrison & Foerster.
  • He also has extensive experience advising private equity sponsors, boards of directors, and companies experiencing financial or operational distress.
  • "Morrison & Foerster's exceptional Business Restructuring & Insolvency team, strong corporate, capital markets and leveraged lending platforms, and the firm's collaborative culture were all major draws for me," said Kleinman.

Carillion: Official Receiver Files Audit Negligence Legal Claim Against KPMG

Retrieved on: 
Thursday, February 3, 2022
Professional Services, Other Construction & Property, Legal, Commercial Building & Real Estate, Construction & Property, Accounting, Government, Bankruptcy and Insolvency Act, Risk, Prison, Contract, Quinn Emanuel Urquhart & Sullivan, Justice, High, Official receiver, FTSE, Insolvency, Mission statement, Commercial Court, London Stansted Airport, KPMG, London, Royal Liverpool University Hospital, London Stock Exchange, Acquisition, High Court, Airport, Public sector, Court of cassation, Hospital, Maintenance, Accounting, Audit, Insurance, Security (finance), Cryptocurrency, Tarmac, Carillion, Gatwick Airport

The Official Receiver has identified evidence of negligence and breach of duty by KPMG in respect of its role as auditor to Carillion.

Key Points: 
  • The Official Receiver has identified evidence of negligence and breach of duty by KPMG in respect of its role as auditor to Carillion.
  • A spokesperson for the Official Receiver said:
    Following extensive investigations looking into the causes of Carillions liquidation, the Official Receiver has submitted a claim to the High Court concerning KPMGs role as auditor for the companys accounts.
  • The Official Receiver has taken this action in the interests of creditors who lost substantially in the liquidation.
  • The decision is based on legal advice, which is that KPMG is answerable to Carillions creditors for a portion of their losses.

Nayax to Acquire On Track Innovations (OTI), a provider of Smart Payment Solutions for approximately $4.5 million in Cash

Retrieved on: 
Thursday, January 20, 2022
OTI, Foundation, Growth, Virginia General District Court, Parpar Nechmad, Time, OTC, Insolvency, Marketing, ATM, Private Securities Litigation Reform Act, TASE, Efficiency, COVID-19, Workforce, Mission statement, District court, Acquisition, Online shopping, Security (finance), Nayax

This transaction supports Nayax's strategic business plan, as we constantly explore potential acquisitions with complementary technologies that will support our continued growth," Nechmad concluded.

Key Points: 
  • This transaction supports Nayax's strategic business plan, as we constantly explore potential acquisitions with complementary technologies that will support our continued growth," Nechmad concluded.
  • First, Nayax will lend OTI approximately $5.5 million to repay its outstanding debts.
  • The company, operating in 55 countries, has developed ATM readers and payment terminals (unattended payment), self-service kiosks, automatic vending machines and public transportation payment stations.
  • All written or oral forward-looking statements attributable to Nayax are expressly qualified in their entirety by the factors referred to above.

Association of Insolvency and Restructuring Advisors Announces 56 CIRA Certification Awards

Retrieved on: 
Monday, January 17, 2022
PC, Accounting, MI, Knowledge, Partner, AIRA, SP, Unite, Colby, Insolvency, Program, Bankruptcy, Company, Association, Certification, Grade (consulting), CIRA, Trustee, Architecture, Harbor, Fashion, Financial services, Financial adviser, LLC

MEDFORD, Ore., Jan. 17, 2022 /PRNewswire/ --Rendering financial advisory services in the business turnaround, restructuring and bankruptcy practice areas requires both special knowledge and extensive relevant experience.

Key Points: 
  • MEDFORD, Ore., Jan. 17, 2022 /PRNewswire/ --Rendering financial advisory services in the business turnaround, restructuring and bankruptcy practice areas requires both special knowledge and extensive relevant experience.
  • In 1992, the AIRA established the Certified Insolvency and Restructuring Advisor (CIRA) program to recognize by public awareness and certification those individuals who possess a high degree of knowledge and proficiency across a spectrum of functions related to serving clients in situations involving distressed and/or insolvent entities.
  • Such expertise includes accounting, operations, strategic, taxation, and finance issues related to business bankruptcy and insolvency.
  • AIRA's mission is to(i) Unite and support professionals providing business turnaround, restructuring and bankruptcy services, and (ii) Develop, promote and maintain professional standards of practice, including a professional certification through its CIRA and CDBV programs.For additional information on AIRA, visit www.aira.org .For additional conference and program information, visit https://aira.org/conference .

Association of Insolvency and Restructuring Advisors Announces 3 CDBV Certification Awards

Retrieved on: 
Monday, January 17, 2022
Anatoly Donika, AIRA, Unite, American, Insolvency, Program, Bankruptcy, Association, Certification, CIRA, Trustee, Medicine, Financial adviser, LLC

In 2004, AIRA launched the Certification in Distressed Business Valuation (CDBV) program to train and accredit professionals in the highly specialized area of distressed asset valuation including the valuation of distressed and insolvent companies.

Key Points: 
  • In 2004, AIRA launched the Certification in Distressed Business Valuation (CDBV) program to train and accredit professionals in the highly specialized area of distressed asset valuation including the valuation of distressed and insolvent companies.
  • The CDBV program requires the successful completion of an intensive three-part course of study and uniform written examination and demonstration of practical knowledge by case experience and references.
  • Having completed the requirements for certification in 2021, AIRA has awarded the following members CDBV certification:
    John Hall / American Fiduciary Services, LLC, Portland, OR
    Donika Hristova/ Pension Benefit Guarantee Corporation, Washington, DC
    Bryon Sergeant / Alvarez & Marsal, Chicago, IL
    The Association of Insolvency and Restructuring Advisors (AIRA) is a nonprofit professional association serving financial advisors, accountants, crisis managers, business turnaround consultants, lenders, investment bankers, attorneys, trustees, and other individuals involved in the fields of business turnaround, restructuring, bankruptcy, and insolvency.
  • AIRA's mission is to(i) Unite and support professionals providing business turnaround, restructuring, and bankruptcy services, and (ii) Develop, promote, and maintain professional standards of practice, including a professional certification through its CIRA and CDBV programs.

Heritage Global Inc. Appoints Shirley Cho to Board of Directors

Retrieved on: 
Wednesday, December 22, 2021
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Heritage Global Inc. (NASDAQ: HGBL) (Heritage Global, HGI or the Company), an asset services company specializing in financial and industrial asset transactions, today announced the appointment of Shirley S. Cho to its board of directors, effective as of December 20, 2021.

Key Points: 
  • Heritage Global Inc. (NASDAQ: HGBL) (Heritage Global, HGI or the Company), an asset services company specializing in financial and industrial asset transactions, today announced the appointment of Shirley S. Cho to its board of directors, effective as of December 20, 2021.
  • She replaces Brendan Ryan, who has resigned from the Heritage Global Inc. board.
  • Sam Shimer, Chairman of the Board of Directors for Heritage Global, commented, We are pleased to welcome Shirley to the Heritage Global board.
  • Shirley Cho commented, This is a very exciting time to be joining Heritage Global.

Accordion Announces Formal LA Expansion

Retrieved on: 
Wednesday, December 8, 2021
Consulting, Accounting, Professional Services, Finance, Insolvency, Interim, CRO, ESG, Institute of Management Accountants, SEC, Face, Machado, Technology, COO, IFRS, GAAP, Bankruptcy, Leadership, CIRA, CEO, COVID, YPO, SOX, Industry, Young Presidents' Organization, Board, Risk management, Nishant, Native Foods Cafe, CPA, CFO, Global One Lending, Purdue University, Association, Solution, Acquisition, Masterson, Financial services, Financial adviser, Management

The company has tapped long-standing Mackinac executive and 15-year industry veteran Nishant Machado to lead its LA operations.

Key Points: 
  • The company has tapped long-standing Mackinac executive and 15-year industry veteran Nishant Machado to lead its LA operations.
  • The combination of Accordion and Mackinac means that there is now a premier partner that sponsors can rely on across every phase of their investment lifecycle, said Machado, Managing Director and Head of LA Office, Accordion.
  • The LA office brings the total number of Accordion offices to nine, including Boston, Charlotte, Chicago, Dallas, Detroit, New York, San Francisco, and South Florida.
  • Accordion is headquartered in New York with nine offices in Boston, Charlotte, Chicago, Dallas, Detroit, Los Angeles, San Francisco, and South Florida.