Tag: restructuring

Behemoths like NEC Electronics and Hitachi are trying to find new ways to survive, but cost cutting has its limits. The small-cap Chinese developer sells equity and CBs to pay for its ongoing high-yield bond tender. Recent catastrophic developments in Japan's economy cast doubts over his liberal policies. Herbert Smith joins the crowd of law firms that are building their restructuring teams by hiring Michael Barker as a partner focused on restructuring and insolvency work. David Chew returns to the firm from Morgan Stanley to work in its restructuring group. Bondholders are unhappy with the offer, while the chairman stresses that it is the only way to prevent liquidation. Reducing China Mobile’s dominance should result in more competition, better services and lower prices in the largest mobile phone market in the world. Weaker airlines will be forced to restructure and some will go out of business due to high oil prices and falling demand, according to UBS analysis. A valuable study of the US solution for helping businesses ride out economic shocks. The Dutch bank secures a key advisory mandate in Indonesia. Credit Suisse First Boston and Lehman Brothers are chosen to unwind the utility''s complicated cross-guarantees and covenant restrictions tied its foreign currency debt. Ted Osborn and Brian Cheung of PricewaterhouseCoopers'' corporate finance recovery services group discuss the nuances of debt restructurings on the Mainland. The FSC in Korea has announced new measures to speed up bank restructuring. HITIC''s failure to make a $6.9 million bond interest payment puts the bondholders in bed with the creditor banks, suggesting a restructuring plan may be in the offing.