The government recognises the seriousness of the situation facing Thames Water Our position remains that the company should find a sustainable, market-based solution to the current situation. This solution must not only secure the company's long-term financial stability but also deliver a successful turnaround that achieves positive outcomes for customers and the environment.
From Africa to Asia to Latin America, billions go hungry while creditors profit. Sri Lanka is undergoing one of the most complex economic recoveries in its history. The country's financial collapse in 2022 was precipitated by a toxic mix of unsustainable borrowing, poor fiscal management, and external shocks. Mass protests erupted under the banner of Aragalaya, a broad-based citizens' movement demanding accountability, economic justice, and an end to political corruption.
"After a thorough evaluation of all available options, we determined a court-supervised sale process is the most effective way to accelerate our turnaround and create a stronger and enduring Del Monte Foods," CEO Greg Longstreet said in a statement.
Oaktree Capital’s rebranding of its distressed debt division to opportunistic credit reflects its strategy of identifying valuable firms facing financial troubles, and then turning them around.