New Delhi: Are the Narendra Modi governments attempts at cleaning up Indias bad loans crisis specifically the new bankruptcy law for the resolution of unpaid bank loans by companies being gamed by promoters who might be using these new mechanisms to escape their repayment obligations? Consider the case of Educomp Solutions (ESL), which was once…
NEW YORK, April 3, 2018 /PRNewswire/ — The Better Business Bureau (BBB) has officially recognized Guardian Debt Relief as an accredited debt relief provider. Coupled with an A+ rating, this achievement marks another step in Guardian’s quest to become the leading provider of debt relief services nationwide. In addition to the BBB, Guardian Debt Relief’s…
News Jessica Fino 3 Apr 2018 12:16pm PwC said it would be vigorously defending itself from a $3bn (£2.1bn) lawsuit filed by the Ukrainian bank Privatbank … Read the full article at: https://economia.icaew.com/en/news/april-2018/pwc-to-fight-privatbank-3bn-lawsuit
BELGRADE (Serbia), April 3 (SeeNews) – Serbia’s government plans to sign a contract for the sale of insolvent tractor manufacturer Industrija Masina i Traktora (IMT) to Indian company Tafe for 66.8 million dinars ($697,000/565,000 euro), Serbian prime minister Ana Brnabic has said. The contract will be signed in the coming three days and the acquisition of…
HYDERABAD:The National Company Law Tribunal (NCLT) at Hyderabad has initiated corporate insolvency resolution process (CIRP) against city-based hospitality player Viceroy Hotels Limited and appointed KK Rao as interim resolution professional (IRP) for the purpose. This was in response to a petition filed by asset reconstruction player Asset Reconstruction Company (India) Ltd (ARCIL) against the Prabhakar…
() is refocusing its health technology solutions with the aim of more closely serving its customers and markets. As such, Orion Health will reorganise its global teams and resources into three main business sectors – Rhapsody, Population Health and Hospitals. The company will be reporting by these sectors in the 2019 financial…
NEW YORK(BUSINESS WIRE)Schulte Roth & Zabel (SRZ) announces the addition of Kristine Manoukian as a partner in the Business Reorganization Group, resident in the firms New York office. Ms. Manoukian joins the firm from Clifford Chance, where she was a partner in the financial restructuring group. Specializing in corporate restructuring and bankruptcy, Ms. Manoukian represents informal and official…
Employers will have the option of a new state payroll tax under the state budget passed last week. The payroll tax, called the “employer compensation expense program,” is among a series of changes designed to prevent New Yorkers from seeing their taxes increase as a result of the federal tax reform. Business organization leaders, such…
Utility FirstEnergy has taken the long-threatened step of filing for bankruptcy protection for its competitive power generation subsidiaries. It’s the latest development for a coal and nuclear power fleet that has become a focus of the Trump administrations efforts to shift energy policies to favor fossil-fired electricity. Saturdays filing with the U.S. Bankruptcy Court for…
LUXEMBOURG–(BUSINESS WIRE)–Pacific Drilling S.A. (OTC: PACDQ) today announced a net loss for fourth-quarter 2017 of $129.7 million, or $6.08 per diluted share, compared to a net loss for third-quarter 2017 of $157.5 million, or $7.38 per diluted share. Net loss for full-year 2017 was $525.2 million, or $24.64 per diluted share. On November 12, 2017…