In the past couple of years, India has witnessed quick resolutions for tackling non-performing stressed assets (NPAs) and debts in India, including its restructuring thereof, by providing a powerful tool to the financial and operational creditors in the form of the Insolvency and Bankruptcy Code, 2016 (the IBC, 2016). The effective reforms in the IBC,…
The average student in debt has about $37,000 to pay. Its a more-than $1 trillion problem for the U.S. Congress could step in: There is a bill with bipartisan support that gives businesses a tax break if they help employees pay student loans. Some companies are awaiting the legislations passage to begin college debt repayment…
Completed your degree to be faced by a mountain of debt? Youre not alone. According to a new report by CNBC, outstanding student debt in the US has tripled over the last decade and is projected to swell to $2 trillion by 2022. CBS News also released a new report stating that the graduating class…
Charles Stanley is set to spend 9.5m on restructuring its business but expects the changes to eventually lead to savings in excess of 4.5m a year. At the beginning of May the wealth management company announced a “major” restructuring project, seeking to achieve an increase of net profit margin to 15 per cent. In its…
FX Networks has restructured its top original programming ranks. The core team of executives Eric Schrier, Nick Grad and Gina Balian remains the same, with new titles for two of them. Eighteen-year FX veteran Schrier, most recently President of Original Programming for FX Networks and FX Prods., has been elevated to the newly created position…
Sir Philip Greens retail empire faces a crunch meeting with creditors this week as it tries to avert a collapse into administration which could put 18,000 jobs at risk. The group, which operates 570 shops, must win approval from 75% of its creditors, most of whom are landlords, for a restructuring which will enable it…
Quick Take Cryptopia, a New Zealand based crypto exchange, filed for liquidation after suffering a serious hack and failing to recover the stolen assets The exchange stored its customer data with Arizona-based company PNAP, but after liquidation, did not receive satisfactory assurance that the data would remain secure without payment Cryptopia filed a Motion for…
New Delhi: Tata Steel on Saturday announced it had completed the acquisition of debt-ridden Bhushan Energy Ltd. The announcement came after the National Company Law Tribunal (NCLT) approved the resolution plan of Tata Steel to acquire Bhushan Energy for around 800 crore. “We wish to inform you that Tata Steel BSL Ltd has successfully completed…
This is to inform you that, the 7th meeting of the Committee of Creditors of Jaihind Projects Limited is held on today, Friday, May 31, 2019 at 3.00 P.M. IST at 5A Vardan Tower, Near Vimal House, Lakhudi Circle, Ahmedabad 380014 and decided to extend the time for submission of Resolution Plans by the resolution…
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) and in accordance with the requirements of sub-clause 16(g) of Clause A of Part A of Schedule III of Listing Regulations, we wish to inform you that the First meeting of the Committee of Creditors (CoC) was conducted on 30…