Brexit: UK banks could face £13bn restructuring bill after EU split – The Independent

Restructuring

The cost faced by UK banks of restructuring operations because of Brexit could be as high as 15bn (£13.1bn) and is likely to put a material strain on those institutions’ earnings over the coming years, according to a new study. Research commissioned by The Association for Financial Markets in Europe and conducted by Boston Consulting Group and Clifford…

BRIEF-Tayo Rolls to refer to NCLT for corporate insolvency resolution process – Reuters

Liquidation

Tayo Rolls Ltd * Decided to refer co to NCLT for corporate insolvency resolution process Source text for Eikon: Further company coverage: ‘); $(‘.second-article-divide’).append($(‘.slider.slider-module’)); $(‘.third-article-divide’).append(‘ Also In Bankruptcy News ‘); var median = (relatedItemsTotal / 2); var $relatedContentGroupOne = $(‘.related-content.group-one ul’); var $relatedContentGroupTwo = $(‘.related-content.group-two ul’); $.each($relatedItems, function(k,v) { if (k + 1 Also In…

Supreme Court Stays HC Debt Relief Order for Tamil Nadu Farmers – News18

Debt Help

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Millions rorted from government R&D scheme – The Age

Bankruptcy

Millions of dollars have been rorted from a federal government scheme introduced to encourage Australian companies to invest in research and development, including claims from bankrupts, a property spruiker and a disgraced businessman. The Research and Development (R&D) Tax Incentive program is the government’s largest industry innovation package, providing about $3 billion in tax offsets to businesses each year.…

A Hard Brexit could cost banks 15 billion and execs are lobbying for EU access – Business Insider

Restructuring

LONDON Restructuring operations around a hard Brexit could cost UK banks 15 billion (£13.1 billion) and add 40 billion (£35 billion) to tier one capital requirements, according to a new report. A report for the Association of Financial Markets in Europe (AFME), compiled by the Boston Consulting Group and Clifford Chance, suggests that Britains exit…