Debt relief options can vary depending on your unique situation and financial need. Getty Images/iStockphoto More than eight out of every 10 Americans have a credit card, according to the United States Federal Reserve. So, it’s more likely than not that you have one of these plastic cards in your wallet. Unfortunately, however, many people…
COLOMBO, Sri Lanka — The Asian Development Bank said Friday that it has approved $200-million concessional loan to debt-stricken Sri Lanka to help stabilize the countrys finance sector following an unprecedented economic crisis that engulfed the Indian Ocean island nation last year. The bank’s announcement comes as Sri Lanka is awaiting International Monetary Fund approval…
Leading audit, tax and consulting firm RSM UK has appointed David Shambrook as a partner in the London office. David will join the firms restructuring team within consulting. David has 18 years experience in restructuring and has led on various advisory, turnaround, rescue and formal restructuring projects. He was previously a partner at FRP, where…
Cazoo has completed its debt restructuring programme and announced a new board. Under the restructuring bondholders agreed to swop the debt they own for shares in the company. Paul Whitehead, CEO said: I am delighted that we have now completed these transactions. Cazoo launched only four years ago this week and has already sold almost 150,000…
A discussion paper on amendments to the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Process) Regulations, issued on 1 November, aims to improve the efficiency of executing resolution plans. The Insolvency and Bankruptcy Board of India (IBBI) has suggested bifurcating resolution plans. Part A should focus on the financial aspects, including…
It is an unfortunate fact that many companies will find themselves facing financial or operational challenges at some point in their life cycle. Often times this is due to situations that are out of the control of the companys directors and management team. Things such as a changing marketplace, shifting consumer expectations, the loss of…
All employees at a Sydney joinery and manufacturing business heavily involved in corporate and commercial construction have lost their jobs and the firm has ceased to trade. On Friday morning, 30 cabinet makers rocked up to the Wetherill Park factory of GDK Group expecting work as usual. But just 15 minutes earlier news.com.au had revealed…