Latest news with #debtrestructuring
Bloomberg
5 days ago
- Business
- Bloomberg
Hedge Funds in Ukraine Are Drawing a Line In State Rail Bond Restructuring
Credit investors have largely supported debt restructurings in Ukraine since Russia's invasion. But some holders of Ukrainian Railways' bonds are reluctant to engage in new debt talks until the government allows it to raise freight charges. Welcome to The Brink. I'm Edward Clark, a reporter in London, where I looked at a brewing standoff between Ukraine's government and hedge funds holding bonds in the state rail operator. We also have news on LifeScan, which is getting close to handing control to second-lien creditors, and a look at a shift in strategy for special situation funds. Follow this link to subscribe. Send us feedback and tips at debtnews@ Hedge funds that hold bonds in Ukrainian Railways are drawing a line in debt talks that would mark a second restructuring since Russia's invasion. Credit investors have given the green light to Ukraine's $20 billion debt revamp — and those of government-owned companies like Naftogaz and road operator Ukravtodor — since the February 2022 invasion. Privately-owned firms like DTEK Renewables have also been able to get extensions.
Bloomberg
5 days ago
- Business
- Bloomberg
Partners Group Is in Talks to Hand Smurf Toymaker to Creditors
By and Arno Schuetze Save Partners Group -owned Schleich is discussing a debt restructuring that could see the private equity firm hand over the keys of the German toy company to its creditors, people with knowledge of the matter said. The firm's lenders, including credit firms Investec and H.I.G., are offering to inject €5 million ($5.8 million) of fresh capital to address its immediate liquidity needs, they said. Blackstone Inc. is also involved in the talks as it's managing some loans for other institutions, some of the people said.
Bloomberg
6 days ago
- Business
- Bloomberg
Washington Casino Maverick Files Bankruptcy After Restructuring
Maverick Gaming, a Washington-based casino and card-room operator, filed for bankruptcy on Monday following a debt restructuring last year. The company filed Chapter 11 in Texas and listed total liabilities and assets in the range of $100 million to $500 million, according to court papers. It owns and operates a portfolio of 27 properties across Nevada, Washington and Colorado, its website showed.
Bloomberg
12-07-2025
- Business
- Bloomberg
Turkish Regulator Expands Scope of Retail Loan Restructuring
Turkey's banking regulator allowed more citizens to restructure debt as tight monetary policy hurts low-income households dependent on card spending. Retail credit card debt and consumer loans may be restructured with a period of as long as 48 months, the Banking Regulation and Supervision Agency said in a statement late Friday. Citizens who failed to make periodic payments toward their card debt and those unable to repay the principal or interest on consumer loans can benefit from debt restructuring. People who previously have restructured debt are also eligible, according to the statement.
Irish Times
11-07-2025
- Business
- Irish Times
Revenue says it backs Scarp process amid criticism of opt-out mechanism
Revenue has reiterated its support for the Small Company Administrative Rescue Process (Scarp) process and said its recently criticised opt-out mechanism was 'reserved strictly for cases involving non‑compliance, audits, or ongoing tax appeals". This comes following an analysis of the Scarp regime published by Azets Ireland, formerly Baker Tilly Ireland, on Tuesday. The analysis found that some 1,314 jobs have been saved through the process since 2021 but recommended the Government consider removing a Revenue opt-out from the scheme. The Scarp process, which has been used in the past year to aide companies such as Waterford's Blackwater Distillery and Scrumdiddly's , is a rescue mechanism for smaller Irish businesses. In effect, an examinership-light process. Established in December 2021, it is designed to facilitate simplified out-of-court debt restructuring for small businesses deemed to be viable at a lower cost and with less bureaucracy than the more familiar examinership scheme. READ MORE Under its present construction, Revenue can exclude tax debts from the scheme if it has concerns about the company, if it has a history of noncompliance. Azets said the Government should consider removing this opt-out at the start of the process, which it said was deterring some businesses from applying for the scheme. 'Notwithstanding the Revenue's positive engagement with the scheme, the ability to opt out is a deterrent to some business owners considering the process,' said Dessie Morrow, partner in advisory and restructuring at Azets Ireland. In a statement on Friday, Revenue said it 'remains a committed participant in the Scarp process'. 'Our opt‑out right is reserved strictly for cases involving non‑compliance, audits, or ongoing tax appeals,' Revenue said. Revenue clarified that it only exercises its opt-out right in two situations. Firstly, in cases in which it cannot quantify the company's debt due to; outstanding returns or other relevant information, an ongoing audit or intervention; or an active tax appeal. Or in cases in which company or its directors have a track record of poor compliance. Since the introduction of the process, of the 99 Scarp applications that have been made, Revenue exercised its op-out right in 19 cases. Revenue referred to commentary noting the opt-out mechanism could deter companies from entering the process but said the only reason a director might be discouraged by the opt-out would be the anticipation of legitimate concerns. 'Businesses that act early, engage openly, and address compliance issues will continue to find Revenue a willing and constructive partner in achieving a successful rescue,' it said.
