BHS has just 10 more days to secure a white knight that could save the chain from disappearing from the high street, a restructuring expert has warned. Opus Business Services Groups Nick Hood, who worked as an administrator for 23 years advising retailers, made the claim in the same week that BHS administrator Duff &…
Nick Rowles-Davies of litigation funder Burford considers the new financing options being explored in insolvency litigation. The UK insolvency space is changing, due to both market and legislative changes. To manage costs more effectively and still fulfill their duties to estate beneficiaries, office holders are increasingly exploring new financing optionsincluding innovative financing structures that…
Three-time Romanian champion Rapid Bucharest has been declared bankrupt by a Romanian court. The club, which has debts of 4 million euros ($4.48 million), filed for insolvency in 2012. Half of the debts are unpaid taxes. Rapid won three league titles, and 13 Romanian Cups, the last one in 2007. It reached the UEFA Cup…
Some 60,000 people are expected to declare their personal insolvency in Bucharest alone each year, according to estimates by the Bucharest Court, cited by local Profit.ro. The court has asked for more employees arguing that the judges will have to solve some 1.8 million cases of personal insolvency, representing appeals and other procedures related to…
With Opa-lockas finances nearly drained and its government facing a state takeover, local officials acted swiftly to hire the man they said could help the city survive: former finance chief Ezekial Orji. They gave him an office at City Hall, a computer and a cadre of workers to help root out serious breakdowns in the…
2016-06-14T11:48+02:00 11:48 14.06.2016 KYIV. June 14 (Interfax-Ukraine) Representatives of some nongovernmental organizations in the healthcare sphere have said that consequent and systemic steps in reforming the healthcare system are required. “A single healthcare concept has not been drawn up in the past year. All proposed reforms do not meet the articles of the Constitution and…
The Reserve Bank of India (RBI) relaxed guidelines on Monday for lenders restructuring large stressed loans, in a move that could allow banks to more effectively manage bad loans. Indian banks are grappling with about $120 billion in stressed loans, or 11.5% of the total, and RBI Governor Raghuram Rajan has…
The Reserve Bank of India (RBI) relaxed guidelines on Monday for lenders restructuring large stressed loans, in a move that could allow banks to more effectively manage bad loans. Indian banks are grappling with about $120 billion in stressed loans, or 11.5 percent of the total, and RBI Governor Raghuram Rajan has set a deadline…
By Suvashree Choudhury and Himank Sharma MUMBAI (Reuters) – The Reserve Bank of India (RBI) relaxed guidelines on Monday for lenders restructuring large stressed loans, in a move that could allow banks to more effectively manage bad loans. Indian banks are grappling with about $120 billion in stressed loans, or 11.5 percent of the…
WASHINGTON The Obama administration is trying to make it easier for students who have been misled or defrauded by their colleges to have their loans forgiven. The Education Department says a rule proposed Monday would lay out a clear relief process for borrowers who believe they were lied to about job prospects after college or…