Standing in the foyer of his local council offices asking for help was a turning point for Brad Hart. Key points: Brad Hart had debt collectors at his door before he sought help Up to 85 per cent of people with mortgages in the 3806 postcode are underfinancial stress WEstjustice is calling for more money…
Published 18 May 2021 Killian Flood BL The High Court has approved a personal insolvency arrangement which would allow a woman to repay her mortgage until the age of 90. The decision came following an appeal from the Circuit Court, in which the judge was concerned that the PIA would leave the debtor in a…
Business Standard The company was sent for debt resolution in 2017 under the Insolvency and Bankruptcy Code 2016 after it defaulted on debt worth Rs 22,000 crore and failed to construct houses in time for homeowners TopicsJaypee Infratech|Jaypee Infra insolvency|Yamuna Expressway project Suraksha Asset Reconstruction Company, a Mumbai-based firm, has emerged as the highest bidder…
Business India’s Tata Motors Ltd posted a surprise quarterly loss and took a US$2.05 billion charge at the luxury Jaguar Land Rover (JLR) unit, warning that a global chip crunch and surging COVID-19 cases in the country would hurt its business. FILE PHOTO: A Tata Tigor car is pictured at the assembly line inside the…
Overview On 12 May 2021, the High Court sanctioned three inter-conditional restructuring plans, under the Part 26A of the Companies Act 2006, for certain English subsidiaries of the Virgin Active group, despite major opposition of certain landlords.[1] In the landmark decision, the High Court exercised its discretion to cram-down multiple classes of dissenting landlords in…
Advertisement Even before the economic upheaval of COVID-19, times were tough for traditional print media. People are increasingly consuming their news and other media via digital platforms rather than newspapers and magazines, and digital content is simply not as profitable in most cases. This has upended the business model of traditional print media companies, with…
MUMBAI: S&P Global Ratings on Tuesday said Vedanta Resources‘ ability to meet debt maturities till June next year is backed by strong operating performance of its subsidiary Vedanta Ltd. “We forecast Vedanta will generate solid consolidated free operating cash flow of about US$2.5 billion in fiscal 2022 (year ending March 2022), based on the company’s…
Photo: iStock Photo: iStock The height of a global pandemic may not seem like a particularly propitious time to roll out a transformative piece of corporate legislation, but in June 2020 the UKs Corporate Insolvency and Governance Act (CIGA) came into force. The Insolvency Service described it as the most significant change to the UKs…
Expanding debt help and advice firm Debt Support Service is relocating to Salfords Exchange Quay campus as the business gears up to double its workforce in the next two years. Debt Support Service was founded in 2009 with the aim of providing fair and ethical consumer debt advice to UK residents. Due to tightening of…
PARIS France has announced to cancel the debt of $5 billion and earmark another $1.5 billion arrears with the International Monetary Fund (IMF) to give relief to Sudan, reeling under the foreign debt. We are one of the important creditors… and we are in favor of canceling the full debt of $5 billion that Sudan…