Royal Bank of Scotland MPs minded to publish widely leaked FCA report which details banks endemic mistreatment of customers Operations by RBSs Global Restructuring Group is at the centre of the scandal. Photograph: Andy Rain/EPA A confidential report into Royal Bank of Scotland is set to be published by MPs after it was widely leaked,…
The RSA, subject to certain conditions, represents the commitment of the Company and Consenting Creditors to support a comprehensive restructuring of Remington’s existing funded indebtedness. The balance sheet restructuring will be effectuated through a pre-packaged joint plan of reorganization to be filed in the United States Bankruptcy Court for the District of Delaware in connection…
AUSTRALIAN families are facing another year from a debt treadmill, thanks to credit card complacency, research has revealed. A survey by lender SocietyOne found that of the Aussies who took out a balance transfer card to help pay off their debt faster, 67 per cent had neglected to cancel their existing credit cards and 12…
HAMBURG, Feb 12 (Reuters) – German grain trading house Mackprang has applied for insolvency proceedings, its chief executive said on Monday. Work will continue while a provisional administrator holds talks with creditors, said chief executive Jens Kass. The company and its shareholders had been unable to reach agreement on financing with banks, he said. The…
HAMBURG, Feb 12 (Reuters) – German grain trading house Mackprang has applied for insolvency proceedings, its chief executive said on Monday. Work will continue while a provisional administrator holds talks with creditors, said chief executive Jens Kass. The company and its shareholders had been unable to reach agreement on financing with banks, he said. The…
MADISON, N.C., Feb. 12, 2018 /PRNewswire/ — Remington Outdoor Company (“Remington” or “the Company”) today announced that it has reached a Restructuring Support Agreement (“RSA”) with creditors holding a majority of the FGI Operating Company, LLC (“FGI OpCo”) Term Loans due in 2019 and 7.875% Senior Secured Notes due in 2020 (the “Third Lien Notes”) (collectively,…
The deadline for submitting bids for the beleaguered Essar Steel, put up for sale under Insolvency and Bankruptcy Code (IBC), ends today and it’s reportedly looking like a tug of war between the Ruias and L.N. Mittal, though Tata Steel is also expected to enter the fray. Yes, the government has amended the Insolvency and…
AUSTRALIAN families are facing another year from a debt treadmill, thanks to credit card complacency, research has revealed. A survey by lender SocietyOne found that of the Aussies who took out a balance transfer card to help pay off their debt faster, 67 per cent had neglected to cancel their existing credit cards and 12…
Employees transferred in prison and defence contracts but more than 1,000 ex-staff have lost jobs Carillion ran maintenance services at prisons including Wandsworth. Photograph: Graeme Robertson for the Guardian More than 4,400 staff who worked for collapsed government contractor Carillion will keep their jobs, the Insolvency Service has said, after new companies were found to…
The assets of Latvias insolvent steel company KVV Liepajas Metalurgs will be sold off by auction, the companys insolvency administrator Guntars Koris has decided, reported LETA on January 15. The insolvency administrators spokesman Dzintars Hmielevskis told LETA that the decision has been taken because none of the companys potential investors had met the requirements set by…