NEW corporate insolvency statistics from accountancy firm KPMG show a marked increase in the number of businesses failing in Scotland during the first quarter of 2016. Between January and March this year, total insolvency appointments rose by 10 per cent from 188 to 206 compared to the same three months in 2015. The increase is…
Greece’s Prime Minister Alexis Tsipras: “Greece, in this last turn, needs a push forward not backwards.” Photo: AP Greek Prime Minister Alexis Tsipras on Thursday rejected the idea of more austerity measures and called for debt relief instead after the European Commission said Greece’s fiscal performance was better than expected last year. Economic progress has…
Introduction Alert procedures Introduction On January 28 2015 the minister of justice set up the Rordorf Commission, a ministerial commission to develop and submit draft legislation designed to reform, review and reorganise the rules governing insolvency procedures in Italy. On December 29 2015 the Rordorf Commission completed its proceedings and submitted a draft statutory instrument…
Introduction Facts Questions of law Decision Comment Introduction Questions around the interplay between the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002, the Sick Industrial Companies (Special Provisions) Act 1985, the Recovery of Debts Due to Banks and Financial Institutions Act 1993 and the Companies Act 1956 have frequently arisen…
Clearing the debts of the poor reduces their anxiety and helps them focus better, possibly reducing the chances that they will make bad decisions which keep them mired in poverty. This was a key finding of the first local study on how debt affects the poor, which was presented at a conference yesterday. But before…
Last Modified: Fri, Apr 22 2016. 04 05 AM IST Parliamentary panel reached political consensus on the bankruptcy law that makes it easier for sick companies to be either wound up or revived New Delhi: Prospects of the early passage of a bankruptcy law, which makes it easier for sick companies to be either…
NEW YORK–(BUSINESS WIRE)–Fitch Ratings has assigned the following ratings and Rating Outlooks to Fannie Mae’s risk transfer transaction, Connecticut Avenue Securities, series 2016-C03: –$157,758,000 class 1M-1 notes ‘BBB-sf’; Outlook Stable; –$56,342,000 class 1M-2A exchangeable notes ‘BB+sf’; Outlook Stable; –$123,953,000 class 1M-2B exchangeable notes ‘B+’; Outlook Stable; –$180,295,000 class 1M-2 notes ‘B+sf’; Outlook Stable; –$56,342,000 class…
Greek Prime Minister Alexis Tsipras has rejected the idea of more austerity measures and called for debt relief for Athens. It comes as the European Commission said Greece’s fiscal performance was better than expected last year. Economic progress has been a sticking point in bailout talks, which have dragged on for months. The European Union…
This earnings season has clearly given evidence to the fact that corporations in the United States, both financial as well as non-financial, are either restructuring and need to restructure. Evidence of this is all over the place. Two pieces in the Wall Street Journal about Intel Corp. (NASDAQ: INTC) point to the need for such…
Clive Palmer in Canberra: A court hearing on Friday is crucial for his finances. Alex Ellinghausen The Queensland Nickel collapse will move into a new and more dangerous phase for mining entrepreneur Clive Palmer on Friday when creditors vote to put the company into liquidation. There are no deeds of company arrangement on the table…