Venezuelas opposition plans to treat equally creditors ensnared in the countrys $150bn web of defaulted debt if President Nicols Maduro is removed after weeding out inflated, fraudulent, or corrupt claims. In a new policy paper, advisers to US-backed opposition leader Juan Guaid sketch out how his administration would go about restructuring Venezuelas huge and varied…
* Italian banks trying to offload unlikely to pay loans * Hedge fund DKCM in talks to take on some from Intesa * Deal could herald others, vital to restoring banks health By Valentina Za MILAN, July 3 (Reuters) – How do you value a bank loan on the brink of default in an economy…
Policy decisions in France are aimed at reducing or even eliminating the use of phytosanitary products in agriculture. The economic situation of companies in the EXEL Industries group that manufacture agricultural sprayers is coming under increasing pressure, particularly if they mainly sell to the French market. Our companies are currently having to consider some serious…
A local company, led by a group of familiar Iron Range names, has successfully secured a portion of the assets of ERP Iron Ore with the hope of reviving scram mining operations. Scram mining previously was conducted on the West Range by Magnetation, a company experiencing rapid growth from 2008 to 2015. The firm got…
Credit: CC0 Public Domain By the end of fourth quarter 2018, total household debt in the United States reached a new high of $13.54 trillion. A new Economic Inquiry study found that nonprofit credit counselingwhich reaches millions of consumers a year and provides financial education, individualized financial counseling, and debt restructuring servicescan be an effective…
Jacqui Lambie (centre) sits with Centre Alliance Senator Rex Patrick (left) and Stirling Griff during the official opening of the 46th Federal Parliament yesterday. Picture: AAP. Independent senator Jacqui Lambie says she wants to see Tasmanias debt from the federal government relieved if she is to pass Scott Morrisons full tax cuts agenda. Senator Lambie,…
Debenhams only Australian store is set to shut its doors and abandon the Australian market entirely in early 2020. The decision comes after Greenlit Brands subsidiary, PSEA Dept Store, confirmed its Debenhams Australia franchise terminated. Having a strong presence overseas, Debenhams failed to reach similar popularity in Australia, with the majority of electronics sold in…
Troubled live exporter Wellard has voluntarily suspended its shares, pending the release of an announcement about a proposed recapitalisation and restructure. The suspension follows the company putting its shares into a trading halt on Monday, foreshadowing the announcement, which was planned for Wednesday but is now set to be released by Friday. The announcement relates…
Debenhams sole Australian store is set toclose after Greenlit Brands subsidiary, PSEA Dept Store confirmed itsDebenhams Australia franchise terminated. Bothfranchise and brand agreements to operate the Melbourne outlet will be terminated putting an end to the embattled UK retailers Australian venture. The announcementcomes roughly three months after shareholders voted for a Company Voluntary Arrangement (CVA).…
The Committee of Creditors (CoC) of BS Ltd has requested resolution plan applicant United Trade Co to improve its offer and modify its terms. Formerly known as BS TransComm Ltd, BS is an infrastructure and engineering, procurement and construction (EPC) firm operating in the segments of power transmission & distribution and telecom. In its ninth…