NEW YORK (Reuters) – Puerto Ricos Government Development Bank, the islands insolvent former fiscal agent now in wind-down mode, has tweaked its $5 billion debt restructuring deal to help keep small towns afloat six months after Hurricane Maria. FILE PHOTO – The Government Development Bank (GDB) is seen in San Juan, November 30, 2015. Reuters/Alvin…
By Nick Brown Puerto Rico GDB amends wind-down deal to help storm-battered towns NEW YORK (Reuters) – Puerto Ricos Government Development Bank, the islands insolvent former fiscal agent now in wind-down mode, has tweaked its $5 billion debt restructuring deal to help keep small towns afloat six months after Hurricane Maria. Governor Ricardo Rossellos office…
There is not a lot of subtlety in the games they design for fixed-odds betting terminals (FOBTs). In one, Goddess of the Amazon, badly rendered illustrations of big-breasted women in leather underwear point you towards slot machines you literally have to tap on their crotch to spin the wheel. In another, Rainbow Riches, a leprechaun…
Having worked for more than eight years in managing credit risks for Google, Ravi Malhotra saw an acute problem plaguing Indian corporates. His answer was Debt Nirvana which works with 45 clients across Asia to help them with their revenue flows. It is no secret that a key element to doing all business is credit. Be…
The Ahmedabad Bench of the National Company Law Tribunal (NCLT) on Tuesday adjourned hearing of ArcelorMittal and Numetal’s petitions challenging ineligibility of their bids for Essar Steel till April 4. While Numetal had moved the NCLT on March 20, ArcelorMittal had done so on Monday, March 26 challenging the decision to declare their bids…
Sir Philip Green has escaped a ban from serving as a company director by the Insolvency Service over the deal to sell BHS for £1 in 2015, a year before the retailer collapsed. However, Dominic Chappell, who led the consortium that bought BHS, faces a lengthy boardroom ban after a government inquiry into the collapse…
A former Managing Director of the GCB Bank, Mr Simon Dornoo, is to lead a team of experts from accounting and auditing firm, KPMG to revive and stabilise uniBank Ghana Limited. The revival is to help bring the bank, which was declared insolvent by the Bank of Ghana on March 20, back to…
Futures markets have been tossed around by weather concerns for the US Hard Red Winter wheat crop, and the South American corn and soybean crops, for some weeks now. Last week we added uncertainty about a trade war between China and the US into the mix, as well as speculation about longer term interest rate…
Image copyright PA The Gambling Commission is considering banning the use of credit cards in online betting. The regulator’s report into how to make online gambling safer said consumers “should not gamble with money that they do not have”. Betting operators have suggested credit cards are used for between 10% and 20% of deposits online.…
In a move that could change the relationship between real estate developers and homebuyers, the Insolvency Law Committee has called for treating realty customers as financial creditors and the money raised from such people for housing projects as financial debt. This is significant as the status of financial creditors to homebuyers – if given –…