By In-Soo Nam SEOUL– Hanjin Shipping Co., South Korea’s largest container operator by capacity, reached out to owners of its chartered fleet and terminal operators to say it can’t survive unless they help with its debt-restructuring efforts. In a letter to foreign owners, Chief Executive Suk TaeSHY-soo said the debt-saddled operator faces serious challenges as…
SAN JUAN, Puerto Rico – Puerto Rican officials warned Monday the island’s default on a $422 million bond payment is only the beginning if the U.S. Congress doesn’t help resolve the situation soon. The U.S. island territory did not make nearly $370 million of the payment that was due, the third and largest since 2015.…
Puerto Rican officials warned Monday the island’s default on a $422 million bond payment is only the beginning if the U.S. Congress doesn’t help resolve the situation soon. The U.S. island territory did not make nearly $370 million of the payment that was due, the third and largest since 2015. Gov. Alejandro Garcia Padilla said…
Sadly, people who are completely debt-free make up a very small percentage of working South Africans, Manyike noted. With increased interest rates, higher fuel and food costs and no immediate respite in sight, South Africans are feeling the pinch, now more than ever. Often during tough times the temptation can be for people to get…
WASHINGTON — The U.S. House of Representatives goes on a week-long recess on Saturday without moving on legislation to help Puerto Rico restructure its debt, virtually guaranteeing there will be no congressional action before a $422 million debt payment on May 2nd that the island government says it cannot pay. “On Monday there’s going to…
It’s time to talk about that email. You know the one: the heartfelt “let’s catch up!” from an old friend you just haven’t had a chance to reply to. Maybe it’s the thread that picks up the difficult social media conversation you let lapse. Or the invite to that thing you’ve been putting off responding…
Law Firms Posted Apr 29, 2016 05:50 am CDT By Debra Cassens Weiss Several BigLaw firms are replicating a Latham & Watkins program to connect associates with banks willing to refinance their student debt. According to the Am Law Daily, the banks refinance the debt at rates as low as 2.5 percent (at First Republic…
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The Association is of the belief that an effective law on corporate insolvency would enable companies to fall on options to recuperate rather than closing the company, as is the common prescription under the countrys current laws. Jacob Saah, the Executive Secretary of GARIA Mr. Jacob Saah, the Executive Secretary of GARIA made the call…
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