Jason Rowley Contributor Jason Rowley is a venture capital and technology reporter for Crunchbase News. More posts by this contributor: Entrepreneurship is not just about starting businesses. Getting out on the other side, ideally richer than before, is just as important. Unless youre one of the lucky few who start and take a company public…
The insolvency regulator has tightened conditions on promoters trying to take back the insolvent companies, allaying fears of lenders that such firms might go back to the very people who were responsible for the current mess, at lower prices. As such, no wilful defaulter can take back the company now as they…
Turnaround unit accused of cavalier approach James Hurley, Enterprise Editor Thousands of small and medium-sized companies from across Britain were mistreated by RBSs Global Restructuring GroupNEIL HALL/REUTERS Staff at Royal Bank of Scotlands restructuring unit were advised to extract money from small businesses that were in the most financial difficulty, according to a confidential document that…
By: ENS Economic Bureau | New Delhi | Published:November 8, 2017 1:54 am (Representational Image) In what would make it tougher for unscrupulous elements, including promoters, to manipulate the insolvency resolution process of a stressed firm, the government on Tuesday amended the Corporate Insolvency Resolution Process Regulations, providing for more stringent scrutiny of resolution applicants…
High rollers spent more money than expected at Resorts World Sentosa, helping drive strong earnings and profits in the third quarter for Genting Singapore. Resorts World Sentosa saw profits surge in the third quarter thanks largely to improvement in VIP spending. (Image: Meinhardt) Quarterly profits rose 35 percent year-over-year for the operator, thanks largely to…
GABORONE, Nov 7 (Reuters) – KFC Botswana will come out of liquidation after a joint venture between Shell Fuel distributors, Vivo Energy Botswana and South African KFC franchise operator Baobab Khulisani agreed to buy the fast food chain. KFC Botswana, whose portfolio includes 12 stores, was placed under liquidation in June 2016 after the company…
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Washington (AFP) – US sanctions against Venezuela have accelerated the already catastrophic decline of the oil-rich nation’s economy, and is pushing it to a debt default that economists say could happen as early as this week. US sanctions help push Venezuela to default The aim of the latest US action against Caracas is to choke…
Insolvency and Bankruptcy Board of India has amended its corporate insolvency resolution process regulations to ensure that as part of due diligence prior to approval of a resolution plan, the antecedents, credit worthiness and credibility of a resolution applicant, including promoters, are taken into account by the Committee of Creditors. With a view to ensure…
* Firm will sell its manufacturing arm * To exit some construction businesses * Competitors also have to adjust strategies * S. African construction hit by weak public finances * Continues to assess expressions of interest for I&C unit (Adds strategy details, more quotes) By Nqobile Dludla JOHANNESBURG, Nov 7 (Reuters) – South African builder…