Marina Bay Sands, one of Singapores two casino resorts, has dropped a S$10 million lawsuit against an Australian high roller who failed to pay a gambling debt he amassed at the property five years ago. Local news outlets reported earlier this week that Marina Bay Sands filed a notice of discontinuance with the High Court…
Insolvency and Bankruptcy Code, 2016 (IBC) has proved to be a successful path for lenders to recover their loans from defaulting companies. According to a Reserve Bank of India (RBI) report, the recovery rate of the IBC is 42 per cent against 10-18 per cent in earlier regimes. Till December 2018, the IBC has resolved…
General Electric Co. is looking to sell off its venture capital investment business, GE Ventures, which has a portfolio of more than 100 startups under its wing. GE is selling the business in order to help stave off its mounting debts, CNBC reported. The company is said to be in a difficult financial position, with…
Mandatory retirement savings in Australia are worth $2.7 trillion and growing. Equity markets are arguably looking fully priced, particularly as the rhetoric of a trade war between the US and China ramps up again. To top it off, bank deposits and bond yields are offering circa 2% yields at best. Finding investment opportunities that are…
With reference to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it may please be noted that as per the instructions of Sri Parag Sheth, Interim Resolution Professional, the first meeting of the Committee of Creditors was held on Friday, May 24, 2019.Thereafter, E-Voting was conducted from June 3, 2019 (11.00…
We were surprised to hear from sources that Tesla was letting go some employees in the service teams at several locations today because the automaker claims to be focusing on expanding its service coverage. In response, Tesla told Electrek that they are still expanding service and the employees were let go in a restructuring of…
Las Vegas Sands Singapore casino appears to have resolved its five-year quest to collect a $10m marker from an Australian-Chinese VIP gambler. This week, the Straits Times reported that lawyers representing the Marina Bay Sands (MBS) integrated resort had filed a notice of discontinuance with the Singapore High Court on June 6 regarding its legal…
(iStock/iStock) By Harry Williams June 13 at 4:53 PM Harry L. Williams is the president & CEO of the Thurgood Marshall College Fund and is a past president of Delaware State University. Our student loan debt crisis is preventing millions of young Americans from purchasing homes, starting families, saving for retirement and creating wealth. No…
Friday, 14 June 2019, 8:57 amPress Release: RITANZ The Restructuring Insolvency and Turnaround Association of New Zealand (RITANZ) has welcomed news that the Insolvency Practitioners Bill has passed into law on Wednesday, almost a decade after it was first introduced into Parliament. The Insolvency Practitioners Regulation Bill and the Insolvency Practitioners Regulation (Amendments) Bill are…
With student debt higher than ever in America, companies are finding unique ways to help their employees out of the student-loan hole. As of June 2019, the national student debt is at an all-time high of nearly $US1.6 billion, second only to national mortgage debt. According to the Society for Human Resource Management (SHRM), around…