PETER MEECHAM/FAIRFAX NZ The Christchurch company behind the Calendar Girls strip club on Karangahape Rd (pictured) is in liquidation and receivership, owing Inland Revenue thousands. A Christchurch company that owns one of Auckland’s best known strip clubs has collapsed, owing tens of thousands of dollars to Inland Revenue. Casino Bar (No.2), which operates the Karangahape…
Calls for upgrading Indias corporate insolvency framework Washington, October 6: Indian banks are vulnerable to further decline in profits as they face slow credit growth and elevated non-performing assets, IMF has said, calling for additional and more timely action to deal with the problem of bad loans. Banking systems are vulnerable to further declines in…
Even though bank balance sheets are on aggregate stronger than they were before the global financial crisis, a cyclical recovery wont solve the problem of weak bank profitability, according to the International Monetary Fund. In its latest Global Financial Stability Report, the IMF says short-term risks have abated since its previous assessment in April but…
By Francesco Guarascio | BRUSSELS BRUSSELS An external early warning system for companies at risk of insolvency is central to a European Commission’s draft proposal to cut the region’s bankruptcy problem and help banks recoup bad loans. Non-performing loans (NPLs) on the euro zone’s main lenders’ balance sheets neared 1 trillion euros (£0.86 trillion) last…
By: PTI | Washington | Published:October 6, 2016 2:22 pm IMF said bank loan-loss reserves have fallen short of the expected loss on non-performing loans under the current debt-at-risk in India. (Source: Wikimedia Commons) Indian banks are vulnerable to further decline in profits as they face slow credit growth and elevated non-performing assets, IMF has…
Global Financial Stability Report Press Conference – 2016 IMF Annual Meetings October 5, 2016 Peter Dattels, Deputy Director, Monetary and Capital Markets Department Matthew Jones, Chief of the Global Markets Analysis Division, Monetary…
New Delhi: Excess debt on the books of Indian companies remains a medium-term risk to Indias growth trajectory, the International Monetary Fund (IMF) said on Wednesday. Excess corporate debt also increases risks to banks, IMF said in its Global Financial Stability Report. Banking systems are vulnerable to further declines in growth or profits, particularly in…
* European corporate bankruptcies higher than pre-crisis * EU wants early warning alerts to prevent bankruptcies * Companies to receive support for early restructuring By Francesco Guarascio BRUSSELS, Oct 5 An external early warning system for companies at risk of insolvency is central to a European Commission’s draft proposal to cut the region’s bankruptcy problem…
The $3.5 billion Baha Mar casino resort in the Bahamas has been surrounded in controversy for the last couple of years as the project came to a halt after developer Sarkis Izmirlian faced financial troubles due to delays, and the secured creditor for the project, the Export-Import Bank of China (EXIM) wasnt willing to extend…
Phoenix Institute * Facing Federal Court proceedings from the ACCC accused of making false or misleading representations and engaging in unconscionable conduct * A subsidiary of Australian Careers Network, which went into voluntary administration in March * Was allegedly paid more than $100 million by the Commonwealth for enrolments between January and October 2015 Australian…
