By Reuters Staff 2 Min Read ROME, Dec 21 (Reuters) – Italian police said on Monday a man who ran a cryptocurrency exchange that was declared bankrupt last year is suspected of being responsible for a series of hacks that caused losses of 120 million euros ($146 million). More than 230,000 people were defrauded by…
Pakistan has secured a $1.7 billion debt relief agreement to help offset the financial headwinds sparked by the coronavirus pandemic, officials said Monday. The deal, following months of negotiations with creditors, will provide a moratorium on debt payments for large swathes of the current fiscal year and help ease the cash-strapped country’s massive financial obligations.…
By AFP ISLAMABAD:Pakistan has secured a $1.7 billion debt relief agreement to help offset the financial headwinds sparked by the coronavirus pandemic, officials said Monday. The deal, following months of negotiations with creditors, will provide a moratorium on debt payments for large swathes of the current fiscal year and help ease the cash-strapped country’s massive…
LONDON The breakup of Arcadia has begun with administrators Deloitte selling off the first brand from the bankrupt clothing group, Evans. The plus-size brand, its ecommerce and wholesale businesses, have been sold for 23 million pounds to City Chic Collective Ltd., an omnichannel retailer that specializes in apparel, footwear, and lingerie in a wide range…
The Bankruptcy Law Reforms Committee, which proposed the IBC, noted that the most important objective in designing a legal framework for dealing with firm failure is the need for speed. By Bibek Debroy & Aditya Sinha, A few days ago, a woman in Bhopal moved a court because her father allegedly cheated in a Ludo…
The continued suspension of new insolvency proceedings has hit not just recovery for lenders, but also affected small businesses who typically form the bulk of suppliers to many corporates. Operational creditors are those seeking to recover their dues with respect to goods or services they have provided, while financial creditors are the lenders. The government…