The insolvency proceedings for Bhushan Power & Steel and Jyoti Structures might be hit as their resolution professionals have quit audit firm BDO India and joined rival Price Waterhouse. BDO India has filed a petition in the Bombay High Court against two of its partners, Mahendar Khandelwal (Bhushan Power & Steel) and Vandana Garg…
NEW YORK, March 12, 2018 /PRNewswire/ — Latham & Watkins LLP1 is pleased to announce George Davis has joined the firm’s New York office and will serve as Global Co-Chair of the Restructuring, Insolvency & Workouts Practice within the Finance Department. Davis has an extensive track record advising public and private companies around the world on…
By Sonia Sirletti and Luca Casiraghi March 12, 2018, 10:45 AM EDT The Italian state company that took on soured debt from two failed Venetian banks is seeking partners to help restructure companies struggling to repay 9 billion euros ($11 billion) of loans, according to people with knowledge of the matter. The collapse of Banca…
Getty Images Advertisement – Continue Reading Below Millie Mackintosh’s namesake fashion label has gone into voluntary liquidation, The Evening Standard reports. The brand is said to have gone bust due to a very challenging financial climate in the industry. The reality television star started the company four years ago, which sold mid-priced pieces online and…
CommBank, NAB and Westpac are offering a range of emergency assistance measures for affected customers. Three of the four major banks have announced relief packages for customers affected by flooding in Northern Queensland. The measures, available to both individuals and businesses, include emergency accommodation assistance, loan restructuring, waiving loan fees and other measures. Find out…
EOH, one of South Africas largest business technology services companies, has announced a major restructuring, which will result in the creation of two distinct businesses in the group, one of which will continue to trade under the EOH brand and the other with its own brand and identity. The new business, called NewCo for now, will…
Public sector banking must see material reforms at an institutional level with quick resolution for large stressed accounts, to preserve the daily erosion of value of assets under insolvency and bankruptcy code (IBC), according to a senior executive at HSBC. In an interview with Moneycontrol, Rajat Verma, Managing Director and Head corporate banking, commercial banking…
BBJ Monday, March 12, 2018, 09:30 From March 1, Péter Kiss and György Boár have been directors at OrienTax. Péter Kiss (left) and György Boár (right) Péter Kiss joined OrienTax in 2012, and served as a manager from 2014 onwards. His expertise includes advising on general taxation processes as well as planning and managing the…
Asher Bohbot has been appointed as EOHs new nonexecutive chairman EOH, one of South Africas largest business technology services companies, has announced a major restructuring, which will result in the creation of two distinct businesses in the group, one of which will continue to trade under the EOH brand and the other with its own…
by ValuePenguin In 2017, the Association of Banks in Singapore introduced a new financial instrument called debt consolidation plan (DCP) to help consumers rein in their bloating debt problem. Essentially, this was meant to help individual borrowers combine their high interest loans into one that could be gradually managed down over 1 to 10 years. But, it also had some…