The UKs Pensions Regulator (TPR) has agreed an arrangement with Hoover to allow the household appliances company to offload its main pension scheme to the countrys lifeboat fund. TPR confirmed this week that it had permitted a regulated apportionment arrangement (RAA) with the UK arm of Hoover as the funding needs of the scheme threatened…
There is a proposal from the Economic Commission for Latin American and the Caribbean to help assist regional countries facing debt relief challenges. The idea is to get the outstanding monies placed in a special fund that can be utilized in emergency situations for Caribbean states. Prime Minister, Dr Keith Rowley made public the ECLAC…
Debt settlement is a form a debt relief where you talk to your creditors in a bid to persuade them to essentially remit or forgive part of the debt provided you pay the balance. If the settlement is successful, you only pay a part of the amount owed, with the rest of it being cancelled.…
Galway Bay fm newsroom 190 Galway people have reached arrangements on debt or been made bankrupt in the last 3 years. Thats according to the latest report from the Insolvency Service of Ireland. The report cover the period from the beginning of 2014 to the first quarter of this year. It reveals that 84 people…
International firms announce mergersTwo international law firms have announced new tie-ups, one in Singapore and Brunei; the other crossing the Atlantic. Eversheds Sutherland has merged with Harry Elias Partnership to form a new firm operating in Singapore and Brunei after many years of working closely. Eversheds Harry Elias is live as of 1st June 2017…
Barclays has offloaded a stake worth about £2.2bn in its African business as it presses ahead with boss Jes Staleys plan to streamline the bank and focus it on Britain and the US. The FTSE 100 giant has sold a 34pc chunk of Barclays Africa after securing approval for the disposal from the South African government. The deal…
Just days after Fitch downgraded Anil Ambani-owned Reliance Communications (RCom) saying loan default is a real possibility, lenders will meet on Friday to discuss restructuring proposals for the debt-ridden firm. The restructuring proposals could look at all available recast tools like corporate debt restructuring (CDR), strategic debt restructuring (SDR) and Scheme for Sustainable Structuring of…
Former WA One Nation Senator Rod Culleton. ANTI-FARM foreclosure crusader Rod Culleton has asked the federal Department of Finance for an extension on the deadline for him to request a waiver of his commonwealth debt of about $700,000. Last week Special Minister of State Scott Ryan revealed former SA Family First Senator Bob Day who…
TOKYO Five years after a painful restructuring that saw significant layoffs, staggering losses and a not-so-surprising exit from the PC market, Sony is back. The giant is riding the recovery of its consumer electronics business towards a nicely balanced profit structure, helped along by its financial services and entertainment operations. For the year ending March…
Beena Parmar Moneycontrol News Bankers will be meeting today to decide on a restructuring plan for debt worth over Rs 42,000 crore owed by Reliance Communications (RCom). After four rating firms recently downgraded the company’s debt, its bad loans are in danger of turning into non-performing assets. Banks are likely to discuss how RCom will use the…