bankruptcy
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Top StoriesMovie Chain Operator Cineworld Files for U.S. Bankruptcy
From Chasing Deals to Turning Off Screens: Cineworld on the Brink
Date: August 22, 2022
(Reuters) – Britain’s Cineworld said on Monday it was considering options including a possible bankruptcy filing in the United States as the world’s second-largest cinema chain operator by number of screens struggles with near term liquidity. Here is a timeline of the company, which operates under the Cinema City, Picturehouse, Regal and Yes Planet brands,...
Sas Cancels 1,700 Flights Due to Pilot Strike, Late Aircraft Deliveries
Date: August 19, 2022
STOCKHOLM (Reuters) – Scandinavian airline SAS has suspended 1,700 flights in the coming months due partly to a two-week pilot strike in July over collective agreements and delayed aircraft deliveries. SAS, whose biggest owners are Sweden and Denmark, grounded some 3,700 flights during the crippling strike which the airline said put the carrier’s future in...
Revlon Gets Court Approval for $1.4 Billion Bankruptcy Loan
Date: August 1, 2022
By Dietrich Knauth (Reuters) – Revlon Inc received a U.S. bankruptcy judge’s permission on Monday to proceed with a $1.4 billion loan, over an objection by junior creditors who argued that its onerous terms could block their chance to recover anything from the cosmetic company’s bankruptcy. U.S. Bankruptcy Judge David Jones in Manhattan ordered modifications...
Factbox-The Crypto Crash Hit These Companies the Hardest
Date: July 28, 2022
By Hannah Lang (Reuters) – Cryptocurrencies have been hard hit by fears interest rate hikes will end the era of cheap money, with the world’s largest digital asset, bitcoin, down more than 56% from this year’s high. Several crypto companies have filed for bankruptcy or have been forced to look for emergency capital infusions. THREE...
Deloitte Successfully Advises Saudi Contractor Through an In-Court Financial Restructuring
Date: July 27, 2022
Deloitte advises on another successful financial restructuring procedure in the Kingdom 25 July, 2022 – Deloitte’s leading KSA bankruptcy team has successfully advised on the financial reorganisation procedure of Al Harbi Trading and Contracting Company, a Riyadh-based company with approximately SAR 1.8 billion (USD 480 million) of debt across seven banks and more than 1200 creditors....
Sas Says Time Running Out as Pilot Strike Enters Third Week
Date: July 18, 2022
By Anna Ringstrom and Jacob Gronholt-Pedersen STOCKHOLM (Reuters) -SAS warned on Monday that time was running out as negotiations resumed with pilot unions to end a two-week strike that the Scandinavian airline says threatens its existence. Most SAS pilots in Sweden, Denmark and Norway walked out on July 4 after talks over conditions related to...