Gold miner Avocet Mining Plc, which has been plagued by a shortage of cash and feeble production, on Friday said its board has proposed voluntary liquidation and that remaining cash should be used to pay creditors, Reuters reported. The company had warned in October that it could be broken up as it continued talks with its largest shareholder, Elliott Management, to restructure its debt. In June, it said it would sell its interests in a mine in Guinea to restructure loans.

Dutch leader Mark Rutte has claimed that Italy’s debt crisis risks causing a rupture within the eurozone, warning that there has been a breakdown in trust between the member-states, the Express reported. Speaking to Bloomberg at the G20 Summit, Mr Rutte said there is no evidence the European Commission should hold off from disciplining Italy over its mounting debt. This comes despite words of optimism from Italian Prime Minister Giuseppe Conte, who’s attending the G20 summit in Japan.

H2O Asset Management co-founder Vincent Chailley defended his firm’s “deep value debt” in a video posted on its website Friday, referring to the unlisted bonds that have triggered mass investor redemptions, contributing to an almost 8 billion-euro ($9.1 billion) slide in assets, Bloomberg News reported. H20 won’t sell unless there’s an attractive bid, he said. It’s also planning to set up a new fund specializing in “deep value” securities. In its simplest form, deep value investing means buying assets whose market price is below their intrinsic value.

German Efromovich, the ousted chairman of Colombian airline Avianca, is eyeing a comeback via Italy. Efromovich wants to buy a stake in the bankrupt Italian flag-carrier Alitalia SpA, financial daily Il Sole 24 Ore reported, citing a phone interview, Bloomberg News reported. "We wrote a letter to Ferrovie dello Stato and the adviser Mediobanca two weeks ago saying we can purchase up to 30% of Alitalia," said Efromovich, who was removed as the chairman of Avianca Holdings SA last month after a loan breach.

The operator of the gas transportation system, Ukrtransgaz, has signed an agreement on debt restructuring in the amount of UAH 1.47 billion with the ERU Trading company. Ukrtransgaz said this in a statement, the Ukrainian News Agency reported. “On June 27, Ukrtransgaz concluded an agreement on debt restructuring for a total amount of UAH 1.47 billion, writing off penalties imposed and settling other mutual claims with ERU Trading,” the statement reads.

B2B digital music services provider 7Digital is flirting with administration, the UK equivalent of bankruptcy, after investors rejected a plan to issue more shares for cash which the company says its needs to survive, Hypebot reported. 7digital Group Plc is a publicly traded digital music and radio services platform. 7digital offers both B2B services for digital media partners and 7digital branded direct-to-consumer music download stores.

Casino Guichard Perrachon on Thursday unveiled a plan to simplify the complex shareholding structure for its Latin American operations, sending shares in its Brazilian and Colombian units soaring. The restructuring would result in Casino controlling its Latin American business in Brazil, Colombia, Uruguay and Argentina through a 41.4% stake in Brazilian unit Grupo Pao de Acucar (GPA).

The EU is in a state of suspended animation over Italy’s budgetary woes. Wednesday was supposed to be the day when Brussels gained clarity over Rome’s intentions to step back from deficit-busting spending measures and avoid falling into an EU disciplinary process, the Financial Times reported. But clarity, there came none. Italy’s fraying anti-establishment coalition — which is divided between budget moderates and hardliners — decided on Wednesday to delay formally setting itself a lower deficit target for 2020.

Hedge funds that bet on the demise of Rallye SA will get the pay day they chased for years after a bond auction to settle derivatives linked to the indebted retail group, Bloomberg News reported. Buyers of credit-default swaps on the parent of French supermarket chain Casino Guichard-Perrachon SA will collect 87.5% of the amount insured, according to final auction results on Thursday. That equates to a payout of $522 million, based on data from the International Swaps & Derivatives Association.

The eurozone countries' gross domestic product (GDP) is set to grow by 0.3 percent in the second quarter of 2019, the German Ifo Institute for Economic Research said in its economic outlook for the eurozone published here on Wednesday, Xinhuanet reported. Ongoing trade conflicts, political uncertainties and a cooling-off of the global economy would likely see GDP growth in the eurozone decline slightly compared to the 0.4 percent growth registered in the first quarter of 2019.