The Mumbai bench of the National Company Law Tribunal has ordered the liquidation of fugitive diamantaire Mehul Choksi-promoted firm Gitanjali Gems. The tribunal has also appointed Santanu T Ray as the liquidator.The company was originally admitted under the Corporate Insolvency Resolution Process (CIRP) in October 2018. It has admitted liabilities of over Rs 12,558 crore.…
In short: The company which operates the Peko mine in Tennant Creek has been placed into voluntary administration. Elmore has told the Australian Stock Exchange it is “insolvent or likely to become insolvent at some future time”. What’s next? Employees have been told they still have jobs and will continue to be paid a wage, as administrators assess…
Please see full publication below for more information. BUSINESS RESTRUCTURING REVIEWVOL. 23 NO. 1 JANUARYFEBRUARY 20241IN THIS ISSUE1 The Year In Bankruptcy: 20232 Lawyer Spotlight: Dan T. Moss7 Second Circuit Adopts Transfer-by-Transfer Approach to Bankruptcy Codes Safe Harbor for Securities Contracts Payments12 Chapter 15 Filing as a Litigation Tactic Not Bad Faith Justifying Automatic Stay…
Key takeaways Interest rate changes have an immediate effect on revolving debts like credit cards. Secured loan interest rates don’t rise or fall as much as unsecured loan rates. Mortgage debt interest rates don’t fluctuate like other types of secured debt. Interest rate changes have an impact on every dollar you borrow. They can make…
Don’t let your tax debt overwhelm you this year there are lots of options to help cover what you owe. Getty Images/iStockphoto There’s a reason tax season can feel stressful each year. Not only do you have to gather a ton of paperwork and information to file, but in some cases, life throws us a…
EY-Parthenon teams were appointed as insolvency administrators in March 2021. From the start, a unique aspect to this engagement was the media attention. Given the size and impact of this bankruptcy, this was a hurdle both Abengoa and EY-Parthenon had to overcome and engage with regularly throughout the process. Loan requests Initially, the EY-Parthenon teams…
These nations, home to about 62% of the worlds poor, grapple with critical challenges and lack necessary support, particularly in access to finance. UNCTAD Deputy Secretary-General Pedro Manuel Moreno spotlighted on 6 February the challenges and potential of middle-income countries during a speech at a high-level conference in Rabat, Morocco. Mr. Moreno said these nations…
Thousands of Pennsylvania residents could see their unpaid medical bills wiped out by a new medical debt relief program proposed under Gov. Josh Shapiros budget. The budget includes $4 million to partner with a to-be-determined organization that purchases medical debt in bulk for pennies on the dollar, eliminating patients responsibility for paying it off. The…
Prepared by Carmela Attolini, Annalisa Ferrando and Judit Rariga Published as part of the ECB Economic Bulletin, Issue 1/2024. This box analyses corporate vulnerabilities as derived from firm-level replies to the Survey on the Access to Finance of Enterprises (SAFE). A firm is considered vulnerable if it simultaneously reports lower turnover, lower profits, higher interest expenses…
Universal Credit and debt advice available in Mayors Advice NW Webinar 8 February 2024 Mayor of Derry City and Strabane District Council, Councillor Patricia Logue, has urged the public to get involved in the latest in her series of interactive online discussions to give advice and guidance to households in coping with the cost of living. The latest webinar takes…