Philippine Airlines Emerges from Chapter 11: The Company’s Plan of Reorganization, which was approved by the U.S. restructuring Court on December 17, 2021, provides for over US$2.0 billion in permanent balance sheet reductions from existing creditors, improvements in PAL’s critical operational agreements and additional liquidity including a US$505 million investment in long-term equity and debt financing from PAL’s majority shareholder.
Property Stocks Sink After Demolition Order: Evergrande Update - Bloomberg: Chinese developer shares tumbled following local media reports that China Evergrande Group has been ordered to tear down apartment blocks in a development in Hainan province. Evergrande halted trading in its shares. A local government in Hainan told Evergrande to demolish 39 buildings in 10 days because the building permit was illegally obtained, Cailian reported on Saturday.
