FTI Consulting appointed Cynthia Romano and Chris Creger to senior managing director roles in the turnaround and restructuring practice within the firm’s corporate finance and restructuring segment.
FTI Consulting appointed Ralph Geertsema senior managing director and co-leader of the firm’s office of the CFO Solutions practice for Europe, the Middle East and Africa alongside senior managing director Christopher Ruell.
FTI Consulting appointed two senior managing directors in its corporate finance and restructuring segment and launched a dedicated restructuring practice in Manchester, England, to further strengthen the firm’s restructuring and insolvency capabilities in the UK.
Lifesize, a provider of video conferencing and omnichannel contact center solutions, entered into an asset purchase agreement (APA) with Enghouse Systems, a vertical enterprise software solutions company. To effectuate the sale, the company filed for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas, Laredo Division.
Virgin Orbit Holdings and its U.S. subsidiaries filed a plan, which provides for, among other things, resolution of outstanding claims and interests and a related disclosure statement in the U.S. Bankruptcy Court for the District of Delaware.
According to a survey from FTI Consulting, 71% of lenders believe that the probability of a U.S. recession in 2023 or 2024 is material (54%) or likely (17%), with only 11% believing that real U.S. GDP growth in 2023 will exceed 2%.
Virgin Orbit Holdings and its U.S. subsidiaries, a responsive space launch provider, commenced a voluntary proceeding under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court in the District of Delaware in order to effectuate a sale of the business.
Boxed initiated voluntary proceedings under Chapter 11 of the U.S. Bankruptcy Code to execute a sale of its Spresso software business to its first lien secured lenders while continuing to streamline operations.
Starry Group Holdings and subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware and have entered into a restructuring support agreement with lenders holding the company’s debt.
Avaya Holdings, a provider of solutions to enhance and simplify communications and collaboration, entered into a restructuring support agreement with overwhelming support of more than 90% of the company’s secured lenders.