U.S. law firm Akin Gump Strauss Hauer & Feld said it has added partner Tarun Warriar to its special situations and private credit team in Hong Kong, less than a month after losing its restructuring head in the city to rival DLA Piper. Warriar was most recently a managing director at global investment firm Varde…
FTX has won permission to redact customer names from filings in its bankruptcy case. The ruling, handed down Friday (June 9) in federal court, came after the bankrupt cryptocurrency exchange persuaded a judge that making their names public could put those customers at risk for identity theft or other scams. It is the customers who are…
Normal text sizeLarger text sizeVery large text size ANZ Bank is keen to invest more capital into the part of the bank that services major domestic and overseas corporations, a sector that is benefiting from market volatility while returns from mortgages are being squeezed by stiff competition. Institutional banking, which deals with large corporate clients,…
The insolvency and bankruptcy cases of real estate companies have witnessed steady progress in terms of resolutions despite several complexities involved including troubled homebuyers in large numbers. The possibility of the government bringing in changes to the code to allow resolution depending on the nature of the projects instead of stipulating one rigid framework for…
Insolvency regulator, IBBI, proposes to stipulate mandatory audit of Insolvency Resolution Process Costs (IRPC) in resolution cases where the assets of the corporate debtor (CD) is in excess of 100 crore. This proposal forms part of the nine new measures that the Insolvency and Bankruptcy Board of India (IBBI) has mooted in a new discussion paper…
The NCLT has reportedly rejected the resolution plan of Anirudh Agro Farms for Viceroy Hotels following the expiry of bank guarantees and directed the continuation of the corporate insolvency resolution process (CIRP) and asked the resolution professional to call for fresh bids. According to MoneyControl.com, the tribunal found the plan to be in breach of…