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HTC Global Ventures emerged as the winning bidder in the bankruptcy sale of Ciber, Inc. and its subsidiaries Ciber International LLC and Ciber Consulting, Inc., outbidding a $50 million offer from "stalking horse" bidder Capgemini, according to a filing in the United States Bankruptcy Court for the District of Delaware. HTC and Ciber have agreed that the Purchaser will acquire all or substantially all of the Debtors’ assets relating to the Debtor’s North American business, along with 100% of the Read Story

Filed Under: Bankruptcy
May 22, 2017 @ 07:30 AM

Tidewater Inc. announced that it and certain of its subsidiaries have filed voluntary petitions under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware to pursue a prepackaged plan of reorganization in accordance with its previously announced restructuring support agreement (the "RSA") with certain creditors to effectuate a comprehensive balance sheet restructuring. As previously disclosed, on May 12, 2017, the Debtors began Read Story

Filed Under: Bankruptcy
May 18, 2017 @ 07:17 AM

FTI Consulting, Inc. announced leadership appointments and the addition of three Managing Directors at FTI Capital Advisors, the wholly owned investment banking subsidiary of FTI Consulting, effective immediately. Glenn Tobias, who has been with FTI Consulting for more than eight years and has been instrumental in building the FTI Capital Advisors business, has been named Chief Executive Officer (CEO) of FTI Capital Advisors. He assumes the role from Carlyn Taylor, who becomes Chairperson of FTI Read Story

May 23, 2017 @ 07:35 AM

Laurentian Bank of Canada announced that it has reached a definitive agreement under which a subsidiary of the Bank has agreed to acquire Northpoint Commercial Finance, which is among the leading U.S. and Canadian inventory finance lenders with a portfolio of approximately C$1.2 billion as at March 31, 2017. The transaction is expected to close before the end of fiscal 2017, subject to customary closing conditions, including applicable regulatory notifications and approvals.The Bank believes Read Story

May 19, 2017 @ 08:00 AM

Following a spate of store closures last month, teen specialty retailer rue21, Inc. announced it has filed a voluntary petition for reorganization under chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Western District of Pennsylvania, and has entered into agreements with certain of its lenders to reduce the company's debt and provide additional capital in support of its restructuring. rue21 expects to continue normal business operations in the ordinary course throughout this Read Story

Filed Under: Bankruptcy
May 16, 2017 @ 07:31 AM

2017-05-28 04:42