NEW YORK The United States and China are discussing new measures to prevent a wave of emerging market sovereign defaults, according to people familiar with the situation, one of the most significant attempts in years at economic cooperation between the rival superpowers. The talks including ways to pre-emptively extend loan periods before countries miss payments…
MUMBAI: Mediation will help to reduce the burden on National Company Law Tribunals (NCLTs) and especially disputes between operational creditors and defaulting companies will get resolved faster, feel lawyers. They added that the manufacturing and real estate sectors stand to gain most.Empower Your Corporate Journey with Strategic Skill Courses Offering College Course Website Indian School…
The claim The Coalition has accused the government of laying waste to the manufacturing industry, citing an increase in the number of company insolvencies on Labor’s watch. In a January 16 opinion piece published in The Australian, Deputy Opposition Leader Sussan Ley blamed Prime Minister Anthony Albanese’s “lack of an economic plan, failed industrial policies and distracted…
BuzzFeed announced it sold Complex, a media startup that focuses on streetwear and pop culture, to the live-stream video shopping network NTWRK. According to BuzzFeed, it sold Complex in a $108.6 million all-cash deal, with an additional $5.7 million to cover severance and other expenses for laid-off Complex employees. BuzzFeed also announced it will be laying…
The England and Wales Court of Appeal recently handed down its first judgment relating to a restructuring plan under Part 26A of the UK Companies Act 2006: Re AGPS Bondco Plc [2024] EWCA Civ 24. Restructuring plans were a 2020 innovation in UK insolvency law, as described in our earlier alert. At first instance, the judge…
Student loan borrowers disproportionately experience different forms of material hardship relative to their nonborrower peers. Studies show that households with student debt have lower net worth and are more likely than their counterparts without student debt to be late on bill payments, be denied credit, experience bankruptcy, and have other financial difficulties.1 Because most borrowers…
Bankruptcy in the Australian vernacular refers to personal insolvency, it does not extend to corporates or other legal entities. Australias personal insolvency laws have not been subject to a comprehensive review since the Harmer Report in 1988, the Australian COVID-19 moratoriums have now come to an end, and many Australians are currently experiencing financial stress…
Total credit card debt in the U.S. has reached a record high but people are putting less money toward paying it down. Americans collectively hold $1.13 trillion in credit card debt as of the end of December, according to the Federal Reserve Bank of New York’s latest Household Debt and Credit Report. On an individual…
The company emerges from bankruptcy, financially stronger and positioned for growth under new leadership. HALETHORPE, Md., Feb. 22, 2024 /PRNewswire/ IronNet, an innovative leader Transforming Cybersecurity Through Collective DefenseSM has completed its restructuring process and emerged from Chapter 11 as a private company. IronNet emerges as a stronger business, focused on advancing innovation with their…
LDRS By Greig Watson BBC News, Nottingham The government has appointed commissioners to help run Nottingham City Council after the authority declared itself effectively bankrupt. The Labour-run authority issued a section 114 notice on 29 November, amid an in-year budget gap of 23m. Changes at the council have been overseen by a government-appointed board following…