SINGAPORE (Reuters) – Noble Group (NOBG.SI) improved the terms of its controversial $3.4 billion debt restructuring deal and won the support of its biggest shareholder as the commodity trader seeks to complete the vital transaction. FILE PHOTO – A Noble Group sign is pictured at a meet-the-investors event in Singapore August 17, 2015. REUTERS/Edgar Su/File…
Imagine buying a house or a new car without looking into reviews on the neighborhoods safety or vehicles performance. Sounds like a good idea? Todays technology-laden, the consumer-friendly environment allows anyone to share their thoughts on anything and everything. So why would anyone consider making a life-changing decision without looking into reviews from people…
Canadians Increasingly Feeling the Impact of Higher Interest Rates The MNP Consumer Debt Index is now at an all-time low, dropping four points since December. MNP Ltd. CALGARY, Alberta, April 16, 2018 (GLOBE NEWSWIRE) — The latest MNP Consumer Debt Index research foreshadows trouble ahead for indebted Canadians underlining widespread concern over rising interest rates.…
A 1.8m bill for a six-year company liquidation has been cut by almost 261,000 after the Court of Appeal ruled the number of hours billed was neither reasonable nor necessary. The court said the number of hours work claimed by liquidator Pearse Farrell in the later stages of winding up Mouldpro, a Dublin firm, was…
Jamie Oliver Restaurant Group placed into voluntary administration Published: 16 April 2018 Image credit: Reuters The Jamie Oliver Restaurant Group has confirmed that it has been placed into voluntary administration less than two years after the company assumed control of Jamies Italian restaurants in Australia. According to the statement, Jamies Italian Canberra will close with…
The never ending dispute between poker players Matt Kirk and Leon Tsoukernik has just entered the next level. Kirk had sued Tsoukernik, owner of Kings Casino in the Czech Republic, over a $3 million gambling debt that Tsoukernik incurred while they were playing at the Aria Casino in 2017. Tsoukernik has openly refused to pay…
UltraTech Cement has increased its offer to acquire debt-laden Binani Cement to Rs 7,990 crore from the earlier Rs 7,266 crore, a financial daily reported. The Economic Times said the increased bid for Binani Cement will cover the interest on loans forgone by the lenders when the company was admitted to the bankruptcy court. Citing…
Alok Industries announced that the Corporate Insolvency Resolution Process for the Company expired on April 14, 2018 and the Resolution Professional has not received the approval of the Committee of Creditors for Resolution Plans within the time period prescribed under the Insolvency and Bankruptcy Code, 2016. The stock had outperformed the market over the…
The bid submitted by Reliance Industries Ltd in conjunction with JM Financial Asset Reconstruction Company Limited (JMFARC) has been rejected by committee of creditors (CoC) of Alok Industries. Earlier both the companies had submitted a resolution plan for Alok Industries Limited. The Insolvency and Bankruptcy Code(IBC) requires CoC approval for a resolution plan. JMFARC is…
Proposed changes to insolvency laws, currently before Parliament, could see the bankruptcy discharge period in Australia reduced from three years to one. Critics, including CPA Australia, say proposed changes to bankruptcy laws will cause more harm than good. Heres what you need to know. By Zilla Efrat The proposals, contained in the Bankruptcy Amendment…