
A Court Ruling Is Shaking Up the UK's Restructuring World
By
Save
Welcome to The Brink. I'm Constantine Courcoulas, a reporter in London, where I'm looking at challenges for some companies seeking to restructure in the UK. We also have news on New Fortress Energy and flooring manufacturer Victoria. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net.
The rules of the game are changing for companies that plan to use UK courts to restructure their balance sheets.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
27 minutes ago
- Yahoo
William's homelessness initiative is to deliver homes in third location
The Prince of Wales's Homewards initiative has announced its latest housing project that aims to help eradicate homelessness. A property in south London owned by William's Duchy of Cornwall estate will be converted into 16 flats to provide affordable homes for 18 to 25-year-olds. The new 'Innovative Housing Project' is in the London borough of Lambeth, one of six locations Homewards is working in to create a blueprint to ending homelessness in all its forms, and it will be completed in partnership with homeless charity Centrepoint, which William supports as patron. William marked Homewards's second anniversary this summer by saying his programme was now in 'delivery mode' and the Lambeth initiative is the third Innovative Housing Project to be launched. Seyi Obakin, Centrepoint's chief executive, said: 'Centrepoint is committed to ending youth homelessness in the UK and we know that can only be achieved through collaborative effort. 'We are pleased to work in partnership with Homewards, the Duchy of Cornwall and Lambeth Council to demonstrate that eradicating youth homelessness is achievable. 'By linking rent to individual income levels, this Innovative Housing Project offers more than shelter – it offers young people the stepping stone they need to pursue their careers, build financial resilience and transition out of homelessness for good. 'Through this project, we will demonstrate the effectiveness of this housing model and, hopefully, inspire similar solutions across the country.' The Lambeth project aims to act as a bridge between supported accommodation and the private rented sector with Centrepoint managing the homes and expanding their Independent Living Programme, which aims to break the cycle of homelessness. The flats will be provided to young people already employed, with a number allocated to those moving towards employment, to test a new model to get people into housing and jobs at the same time. With the planning proposal now endorsed by Lambeth Council's planning applications committee, work is expected to begin as soon as possible. Homewards was also involved in the design of the Duchy of Cornwall's first housing project to address homelessness in Nansledan, for which work is already underway. Some 300 homes – a mixture of empty accommodation, private rentals and new builds – are forecast to be delivered through Homewards's Innovative Housing Projects. The first residents moved into flats in Aberdeen in March after Homewards brought together a local housing association, high street retailers and others to provide and furnish the property, and the second Innovative Housing Project, launched in Sheffield. saw tenants move into their new homes in June.
Yahoo
27 minutes ago
- Yahoo
GSK Lifts Outlook As Specialty Medicines, Vaccines Fuel Growth
British pharmaceutical giant GSK Plc (NYSE:GSK) shares rose on Wednesday after reporting second-quarter results that surpassed analyst expectations and led the company to raise its full-year 2025 guidance. Driven by exceptional growth in Specialty Medicines and Vaccines, GSK's second-quarter sales reached $10.66 billion (7.98 billion British pounds), a 6% increase at constant currency, exceeding analyst estimates of $10.33 billion. Core earnings jumped 15% at constant currency to $1.24 per share (46.5 pence) outperforming the consensus forecast of $ company attributed this core earnings growth to the strong performance of its Specialty Medicines and Vaccines divisions, coupled with higher royalty income and a disciplined escalation of investment in key research and development (R&D) areas, particularly within Oncology and Vaccines. Vaccine sales jumped 5% (+9% at constant currency or cc) to 2.09 billion pounds, reflecting growth in Meningitis vaccines related to uptake following expanded recommendation and public funding of Bexsero in Europe, as well as growth in Shingrix driven by launch uptake in France and strong demand across several other European markets and Japan. Arexvy sales reached 66 million pounds, up 6% (+13% cc). Meningitis vaccine sales increased 17% (+22% cc) to 379 million, while established vaccine sales of 787 million increased 2% (+6% cc). Shingrix sales reached 853 million pounds, up 3% (+6% cc). In July, the FDA agreed to review the application to extend the indication of Arexvy (Respiratory Syncytial Virus Vaccine, Adjuvanted) to adults aged 18-49 who are at increased risk. Also in July, the FDA extended the review period for the Biologics License Application (BLA) for GSK's Blenrep combinations for relapsed or refractory multiple myeloma patients who have received at least one prior line of therapy. View more earnings on GSK Specialty Medicines sales grew by double-digit percentages (+10% and 15% cc) in the quarter to 3.33 billion pounds, reflecting continued growth across disease areas, with strong performances in HIV, Respiratory, Immunology & Inflammation, and Oncology. General Medicines sales fell by 10% (-6% cc) to 2.57 billion pounds. GSK is progressing on 14 major pipeline opportunities, each with a potential value of over 2 billion pounds, set to launch between 2025 and 2031. Phase 3 study for tebipenem, a new antibiotic for complicated urinary tract infections, was stopped early because it worked so well. The company plans to file for approval by the end of the year. Phase 3 development for depemokimab, aimed at treating COPD, has begun with the launch of the ENDURA study program. Key trials expected to begin in the second half of 2025 include GSK'227, a B7H3-targeting antibody-drug conjugate for small cell lung cancer, GSK'981 (IDRx-42) for second-line treatment of gastrointestinal stromal tumors, Efimosfermin for MASH, and an ultra-long-acting injectable HIV treatment combining cabotegravir and rilpivirine, to be given every four months. Tariff Outlook and Guidance Addressing a broader macroeconomic concern, GSK acknowledged the U.S. Administration's initiation of an investigation under Section 232 of the Trade Expansion Act, which seeks to ascertain the potential effects of pharmaceutical product imports on national security. The company said it is well-positioned to respond to the potential financial impact of tariffs, with mitigation options identified. According to Reuters, GSK's CFO indicated an anticipation of some tariffs coming in the second half of the year, which are expected to lower the gross margin slightly. GSK raised its full-year 2025 guidance and says it includes tariffs enacted thus far and the European tariffs indicated this week. It now expects sales to increase toward the top of the 3%–5% range. Core operating profit and earnings are also expected to grow towards the top end of the 6% to 8% range. Specialty Medicine sales are expected to increase in the low teens versus prior guidance of a low double-digit percentage. Vaccine revenue is expected to decline by a low single-digit percent to broadly stable compared to the prior outlook of a decrease of low single-digit percent, and general medicine sales are expected to be broadly stable. Price Action: At last check on Wednesday, GSK stock was up 3.57% to $40.37 during the premarket session. Read Next:Photo by HJBC via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? GSK (GSK): Free Stock Analysis Report This article GSK Lifts Outlook As Specialty Medicines, Vaccines Fuel Growth originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27 minutes ago
- Yahoo
Bayern Munich officially announces the signing of Luis Diaz.
Getty Images Although there was a lot of tug of war from Barcelona to acquire the player's services, it appears that the Spanish team has completely settled for signing Marcus Rashford, on loan from Manchester United, who will undoubtedly be the player who will occupy the left wing position. The deal for Nico Williams also fell through before the signing of Marcus Rashford, and now one of the Spanish club's targets, Colombian Luis Diaz, has officially become a Bayern Munich player on a four-year contract until 2029. How much did Bayern Munich pay for the Colombian? According to reliable press reports, most notably from Diario AS, Bayern Munich has spent the full amount of 70 million euros to acquire the services of the talented Colombian player from the English giants. Barcelona had submitted an official offer of no more than 60 million euros, which was rejected by Liverpool. Now, the Colombian will receive 17 million euros annually with Bayern Munich, which is three times his previous salary with Liverpool. "I'm very happy. It means a lot to me to be part of Bayern Munich – it's one of the biggest clubs in the world. I want to help my new team with my style of play and my personality. My goal is to win every possible title, and that's what we will work towards every day as a team" said the Colombian.