Independent News & Media has asked Deloitte to be on standby as
administrator in the event that it fails to restructure its debt.
The publisher of the Independent is attempting to refinance a €200 million
bond by the end of this month on a deadline that has already been pushed back
Irish insolvency law has a provision similar to the US Chapter 11 where an
examiner is appointed if the talks fail to reach an agreement. Examiners have a
similar role to administrators, appointed by a court to review the company’s
prospects and viability.
A restructuring proposal put forward by the family of Anthony O’Reilly, who
controls the company, has been met with stiff opposition. O’Reilly offered
bondholders cash and shares in a reconstructed version of the business, the
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies