Its hard to pick which nation will spark the next major banking crisis. But the latest moves out of China are certainly troubling. Over there, a new debt relief plan for debt-laden companies has been added to a growing list of systemic financial risks that includes unsustainable credit growth and credit-driven malinvestment. The debt relief…
Family First senator Bob Day has signalled his intention to stay in the Senate until at least early 2017, despite announcing his resignation this month. In a series of Twitter posts on Wednesday, the embattled South Australian claimed his party and home state would not have adequate representation because a replacement senator couldn’t be appointed…
The government expects the entire Insolvency and Bankruptcy Law to become operational by end-December, Economic Affairs Secretary Shaktikanta Das said here on Tuesday. “We have a definite roadmap to implement the Bankruptcy Law, the Ministry of Corporate Affairs is working on it, the Law Ministry, the Legislative department have played a very…
The UAEs new bankruptcy law could come into effect by the end of the year, amid concerns that the court system may struggle to implement it effectively. The bankruptcy law was published in the countrys official legal gazette on September 29, stating that it will come into effect three months later, according to a senior…
2016-10-25T17:16+02:00 17:16 25.10.2016 The National Bank of Ukraine (NBU) deliberately refused to sign an amicable agreement with bank Financial Initiative (Kyiv) that later was announced insolvent, former 100% beneficiary of the bank Oleh Bakhmatiuk has said. “The removal of bank Financial Initiative from the market was a personal whim of Mrs. Gonatareva (NBU Governor Valeriya…
Deutsche Bank may have to wait until next year to settle a massive US fine which has dented its share price and cast doubt on its future. The bank’s shares slumped to a record low last month after it emerged that the US Department of Justice wanted to fine it $14bn (£11bn) for alleged mis-selling…
South Australian Senator Bob Day has yet to officially resign from Parliament, meaning he is still being paid and could take his seat on the Senate cross bench next month. Last Monday, Senator Day told his staff I will of course resign from the Senate after he announced that his Home Australia group was being…
Sheikh Khalifa, the President, on Monday issued the long-awaited new federal bankruptcy law by decree, according to the state news agency Wam. The law, which contains elements of bankruptcy protection laws from jurisdictions including France, Germany and the Netherlands, provides, for the first time, a comprehensive legal framework to help distressed companies avoid bankruptcy and…
Posted 44 minutes agoShare Print The number of UK companies struggling to stay afloat has fallen in a further sign that the economy is holding up after the Brexit vote. In the three months after the referendum on 23 June, the number of firms in significant financial distress fell 6% to 248,916 from the preceding…