Anil Ambani, Chairman, Anil Dhirubhai Ambani Group (File photo) Photo : BCCL The highest bid received for the Anil Ambani-owned Reliance Capital, which is undergoing insolvent proceedings, is 60% below aggregate the liquidation value. This means that bidders need to significantly increase the offers, else the company will need to through liquidation or piecemeal sale…
The Supreme Court early next year will decide the fate of President Joe Bidens plan to provide up to $20,000 of debt relief to millions of Americans who owe federal student loans. | Dan Kitwood/Getty Images The Supreme Court announced on Thursday that it will hear arguments about the legality of President Joe Bidens student…
Image caption, David and his wife are both working but struggling By Kevin Peachey Cost of living correspondent People are slipping further into debt to pay for basics like rent and bills, Citizens Advice has warned. Half of the charity’s debt assessment clients have a negative budget – meaning they are left in the red…
Global law firm Ashurst has appointed Lance Jiang as a partner in the restructuring, insolvency and special situations practice, based in its Hong Kong office, as part of the teams expansion plan to capture the rapidly growing opportunities and client demands in Asia. With two decades of experience in the region, Lance advises on complex…
In an early sign that merger and acquisition activity is about to ramp up in the startup sector in order for companies to survive, Sydney-headquartered courier delivery service Drive Yello has merged with the cafe payments platform Hey You. The merged entity is known as 4You Innovation, and hopes to hit up the market for…
Live One of Australias first meal delivery services has shut down, effective immediately, putting thousands of people out of work and telling customers they could no longer place orders with the service. Deliveroo, which launched in Sydney and Melbourne in 2015, revealed it had been placed into voluntary administration on Wednesday and could no longer…
Walt Disney (DIS) may incur impairment charges under returning CEO Bob Iger’s restructuring plans, the entertainment and media giant said this week. Iger, a Disney CEO from 2005 to 2020, reclaimed the job on Nov. 20 after the company’s board abruptly ousted his chosen successor Bob Chapek. Iger has since indicated his priority is restructuring…
Australian investors have been left unable to withdraw their funds after the spectacular collapse this week of cryptocurrency exchange FTX. Key points: High-profile cryptocurrency exchange FTX filed for bankruptcy and its chief executive stepped down Australian investorshave been unable to withdraw funds from the platform FTX’s local arm went into voluntary administration on Friday The…
30.11.2022 News has reached us of insolvency issues at both the Scottish and the Irish divisions of crane and wind turbine specialist Windhoist. We have reached out to the senior managers of Windhoist and the Windlogix group which includes Windhoist, Hexis Training and inspection company Stowen, but so far have received no response. We understand…
Gambling debt leads to jail time A bank manager in England stole 20,000 ($24,500) from a pensioners account to pay off his gambling debt. sent the statement to an address separate from the one she had on file Michael Roberts, 39, only came into the spotlight after the victim asked the bank why she had…