Insolvency

Winston & Strawn Adds Restructuring Partner Tim Walsh To New York Office

Retrieved on: 
Tuesday, July 20, 2021
Winston & Strawn

NEW YORK, July 20, 2021 /PRNewswire/ -- Winston & Strawn LLP is pleased to announce the addition of Tim Walsh as Global Chair of the Restructuring and Insolvency Practice resident in the firm's New York office.

Key Points: 
  • NEW YORK, July 20, 2021 /PRNewswire/ -- Winston & Strawn LLP is pleased to announce the addition of Tim Walsh as Global Chair of the Restructuring and Insolvency Practice resident in the firm's New York office.
  • Tim brings over 30 years of experience advising U.S. and international clients on all aspects of restructuring transactions.
  • "The COVID-19 pandemic has generated an unprecedented and sustained level of complexity in terms of corporate restructuring transactions," said Tim.
  • Winston & Strawn LLP is an international law firm with 15 offices located throughout North America, Asia, and Europe.

Association of Insolvency and Restructuring Advisors Inducts 2021 Distinguished Fellows

Retrieved on: 
Thursday, July 15, 2021
Debt, Finance, Law firms, Money, Insolvency, Insolvency law, Bankruptcy, Hogan Lovells, Restructuring

MEDFORD,Ore., July 15, 2021 /PRNewswire/ --At its annual conference on June 16th, AIRA announced the induction of its 2021 class of Distinguished Fellows.

Key Points: 
  • MEDFORD,Ore., July 15, 2021 /PRNewswire/ --At its annual conference on June 16th, AIRA announced the induction of its 2021 class of Distinguished Fellows.
  • These individuals have contributed in many ways to the profession and to AIRA.
  • ), Hogan Lovells US LLP, Philadelphia, PA
    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.
  • 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 Transitions and Awards

Retrieved on: 
Monday, July 12, 2021
Debt, Finance, Money, Economy, Bankruptcy, CIRA, Insolvency, Restructuring

Mr. Bart assumes the role of chairman from Brian Ryniker, CIRA, RK Consultants LLC, Sea Cliff, NY, who remains an AIRA board member.

Key Points: 
  • Mr. Bart assumes the role of chairman from Brian Ryniker, CIRA, RK Consultants LLC, Sea Cliff, NY, who remains an AIRA board member.
  • He was instrumental in the development of the CIRA program and other association and professional initiatives.
  • Mr. Mork, like Mr. Katten, is a founding member of the association.
  • 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.

Association of Insolvency and Restructuring Advisors Announces CIRA Certification Award Winners

Retrieved on: 
Monday, July 12, 2021
Debt, Finance, Money, Economy, AlixPartners, Bankruptcy, CIRA, Alvarez and Marsal, Insolvency, Restructuring

MEDFORD, Ore., July 12, 2021 /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., July 12, 2021 /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.Each year AIRA recognizes the highest scoring professionals who complete the CIRA program through awards sponsored by AlixPartners, LLP.At its virtual annual conference in June, AIRA recognized the following AlixPartners CIRA Award winners for 2020:
    2nd Place - Bryan Fleming, Alvarez & Marsal, Atlanta, GA
    3rd Place - Hrvoje Cizmic, PricewaterhouseCoopers, Los Angeles, CA
    Also recognized with a Certificate of Distinguished Performance for the 2020 year are David Barmish, SB360 Capital Partners, Needham, MA and Patrik Kast, Alvarez & Marsal, New York, NY.
  • 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.For additional information on AIRA, visit www.aira.org .For additional conference and program information, visit https://aira.org/conference .

MACCO Restructuring Group Managing Director, Adam K. Joseph, Assumes Role as President, Nevada Chapter, of the Turnaround Management Association

Retrieved on: 
Wednesday, July 7, 2021
Professional services, Small business, Other Professional Services, Legal, Finance, Consulting, Bankruptcy, Insolvency, TMAS, Economy, Turnaround management, Macco, Restructuring, Articles, Finance

Adam K. Joseph, Managing Director of MACCO Restructuring Groups Las Vegas, Nevada office (MACCO) has become the President of the Nevada Chapter of the Turnaround Management Association (TMA).

Key Points: 
  • Adam K. Joseph, Managing Director of MACCO Restructuring Groups Las Vegas, Nevada office (MACCO) has become the President of the Nevada Chapter of the Turnaround Management Association (TMA).
  • The TMA is a professionally diverse organization with almost 10,000 members worldwide in 54 Chapters whose focus is corporate restructuring, renewal, and corporate health.
  • TMAs diverse membership includes business restructuring and turnaround professionals, financial advisors, investment bankers, attorneys, accountants, liquidators, academic, government employees, and members of the judiciary.
  • Joseph said, Im honored and excited to offer my leadership and to re-energize the Nevada TMA Chapter.

DGAP-News: Adler Modemärkte AG: ADLER submits insolvency plan and plans to conclude proceedings by the end of August 2021

Retrieved on: 
Friday, July 2, 2021
Bankruptcy, Finance, Money, Debt, Insolvency, Insolvency law, Haibach, Lower Franconia, Haibach, Aschaffenburg, Administration

Haibach (near Aschaffenburg), 2July 2021 - With the filing of the insolvency plan at the Aschaffenburg local court, the decisive phase in the restructuring of Adler Modemrkte AG has begun.

Key Points: 
  • Haibach (near Aschaffenburg), 2July 2021 - With the filing of the insolvency plan at the Aschaffenburg local court, the decisive phase in the restructuring of Adler Modemrkte AG has begun.
  • On 1 July 2021 the Aschaffenburg Local Court opened insolvency proceedings in self-administration over the assets of Adler Modemrkte AG as planned.
  • The company had previously filed for insolvency on 11January 2021 due to the distortions in the wake of the Corona Lockdown.
  • Ideally, the company will be able to terminate the insolvency proceedings as early as the end of August 2021.

Debt Settlement Companies Can Save Thousands With Early Graduation Loans

Retrieved on: 
Monday, June 28, 2021
Finance, Money, Economy, Debt, Credit, Bankruptcy, Debt settlement, Insolvency, Debt consolidation

By taking on clients for six rather than 36 months, debt settlement companies cantransform their cashflow and accelerate fee payment.

Key Points: 
  • By taking on clients for six rather than 36 months, debt settlement companies cantransform their cashflow and accelerate fee payment.
  • Early graduation loans allow debt settlement companies to potentially save thousands of dollars on overhead by reducing the servicing time required for each eligible client.
  • With Freshstart Lending, debt settlement companies are paid up-front and in full when they utilize their clients' early graduation loans to pay off enrolled debts.
  • "For most debt settlement companies the [flat fee] is an easier way to manage it internally," says Teresa Dodson, CEO & Founder of Greenbacks Consulting, Inc. Additionally, a flat fee can be more beneficial as debt settlement companies scale their business.

DGAP-News: Adler Modemärkte AG: ADLER receives irrevocable offer to conclude an investor agreement

Retrieved on: 
Tuesday, June 22, 2021
Debt, Aschaffenburg, Haibach, Lower Franconia, Haibach, Insolvency

Haibach (near Aschaffenburg), 22June 2021 - today received an irrevocable offer from Zeitfracht Logistik Holding GmbH, Berlin to conclude an investor agreement.

Key Points: 
  • Haibach (near Aschaffenburg), 22June 2021 - today received an irrevocable offer from Zeitfracht Logistik Holding GmbH, Berlin to conclude an investor agreement.
  • However, the acceptance of the offer by the company is still subject to the opening of insolvency proceedings over the assets of Adler Modemrkte AG.
  • The Company assumes that the investor agreement can also be signed by it immediately after the opening of insolvency proceedings, which is expected for 1 July 2021.
  • Christian Gerloff, Chief Representative of Adler Modemrkte AG, adds: "The agreement reached today is a good solution for ADLER.

Metro One Telecommunications, Inc. announces Virtual Special Meeting of Shareholders to be held on June 30, 2021

Retrieved on: 
Wednesday, June 9, 2021
WOWI, Insolvency

SHERIDAN, Wyo., June 9, 2021 /PRNewswire/ -- Metro One Telecommunications, Inc. (OTCMKTS: WOWI) (the "Company" or "Metro One") is pleased to announce a Special Meeting of Shareholders (the "Meeting") to be held virtually on June 30, 2021 at 10:00 AM ET, with a record date of June 8, 2021.

Key Points: 
  • SHERIDAN, Wyo., June 9, 2021 /PRNewswire/ -- Metro One Telecommunications, Inc. (OTCMKTS: WOWI) (the "Company" or "Metro One") is pleased to announce a Special Meeting of Shareholders (the "Meeting") to be held virtually on June 30, 2021 at 10:00 AM ET, with a record date of June 8, 2021.
  • Prior to its recent insolvency filing, approximately USD $20 million has been invested in Royal App since 2018 with a pre-money valuation of approximately USD $48 million.
  • The Board approved the Metro One Telecommunications, Inc. 2021 Stock Incentive Plan (the "Plan"), subject to shareholder approval.
  • Voting for the Meeting will also be available telephonically, via fax and by mail in ballot.

EHGO Statement on Iconic Labs

Retrieved on: 
Monday, June 7, 2021
Banking, Professional services, Finance, Finance, Money, Economy, Debt, Financial law, Promissory note, Insolvency, Business law, Securitization, Administration, Iconics

European High Growth Opportunities Securitization Fund (EHGO), an institutional investment fund based in Luxembourg, has issued a statement in relation to the announcement that administrators have been appointed to Iconic Labs Plc (Iconic).

Key Points: 
  • European High Growth Opportunities Securitization Fund (EHGO), an institutional investment fund based in Luxembourg, has issued a statement in relation to the announcement that administrators have been appointed to Iconic Labs Plc (Iconic).
  • In the statement, EHGO said: EHGO has been an important financial supporter of Iconic.
  • We have provided significant funding for Iconic previously and were in discussions with the company to provide substantial new financing arrangements involving a facility of up to 50 million.
  • EHGO has reached out to the administrator with the offer to immediately pay the debt of Iconic which is owed to Iconics secured creditor on behalf of Iconic in exchange for a promissory note from Iconic provided that Iconic is taken out of administration swiftly.