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...Bringing a claim would require the liquidators to build a case that PwC made mis-steps that have harmed creditors, the people said....
...math” then some debt reduction “needs to come by discount”....
...Signa documents show the four properties were valued at €1.2bn late last year, but people familiar with the matter warn that selling them now may lead to discounts of 50-70 per cent....
...Retirees are typically among the firms’ largest creditors but do not have a vote on the sale of the firm....
...Retirees do not have a vote on a sale of an accounting firms, but they are typically among their largest creditors....
...Crowe told the Financial Times that there “were no reasons or matters connected with the firm’s resignation that we considered should be brought to the attention of members or creditors of the companies”...
...Under its new owner, Matches also cut VIP perks and free shipping, and pushed brands for up to 30 per cent discounts in order to get paid. Sales plummeted in January and February....
...A Hong Kong court in January ordered the winding up of Evergrande’s Hong Kong-listed entity after the developer was unable to agree on an offshore restructuring plan with creditors....
...in court thanks to a “magic bullet” in its GDP warrants, via Friends of Alphaville Mitu Gulati and Mark Weidemaier (Clauses & Controversies) — Banks seem . . . not uniformly prepared to use the Fed’s discount...
...That has increased the direct “haircut” taken by bondholders from 16 per cent to 22 per cent of their overall claim, based on the 5 per cent discount rate that official creditors are using to judge the value...
...He told investors in June that the audit to March 2022 would be completed by September....
...assets at the discount retailer....
...The financier has spent much of the past year battling lawsuits brought by aggrieved creditors in London’s High Court....
...Elliott, which manages about $65bn in assets and is known for its aggressive approach to corporate and sovereign debt restructuring, had built a position in the heavily-indebted water company’s bonds at a discount...
...The Project Timber analysis suggests that the smaller share of creditors, who hold “Class B” debt — and own about £1.6bn of the Thames Water operating company’s borrowings — would probably lose 35-40 per...
...Michael Percy Director, Hill Samuel Bank, 1985-1990 Chair of Audit Committee, Teachers’ Building Society, 2004-2013 London SW11, UK...
...Yet a series of creative financings led by Leiv Synnes, the chief executive parachuted in last year, have kept the company ahead of its creditors....
...Shorn of these valuable assets, he then sought to persuade investors to swap their old bonds for new, collateralised ones — at a discount of as much as 40 per cent to their par value....
...(The audit firm’s work on Carillion was so bad that it accounts for the two largest ever fines, before discounts for its co-operation, last week’s for terrible work and another for misleading subsequent...
...Alvarez & Marsal, the restructuring experts, will discuss all options with creditors, which include bank lenders and bondholders, as the government tries to avoid a temporary renationalisation of the UK’...
...In November 2022, the audit firm said Wilko’s latest accounts gave a “true and fair” view of the company’s financial position....
...UK charity, and Zambian civil society groups said on Friday that they estimated the bondholders would take an economic hit of about one-third, if the uplift is not triggered, and based on a 5 per cent discount...
...It could also lead to Call events (liquidation or reset), benefiting discount bonds....
...It is far from clear that the National Audit Office could be persuaded to view this as a good deal....
...A delightful new form of creditor-on-creditor violence just dropped: It’s called the double dip....
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