NEW DELHI: The Reserve Bank of India (RBI) has shot down suggestions of a fresh suspension of the Insolvency & Bankruptcy Code (IBC) due to the second wave of Covid-19, while making it clear that banks can still restructure distressed but viable loans, ensuring that their balance sheets remain transparent.During initial discussions with the government,…
The Biden administration recently revealed its report on how to conserve 30 percent of lands and waters in the United States by 2030. Rebranded as the America the Beautiful campaign, the report lays out eight principles that will guide the national 30 by 30 effort. Although the report lacks clear details on implementation, the importance…
Former promoters of defaulting companies that are under the insolvency process can hope to take back control of their companies if the debt resolution process fails to find new owners. The recent decision by consortium of lenders led by IDBI Bank to allow C Sivasankaran to take ownership of his company by paying an amount…
By Reuters Staff 2 Min Read SYDNEY, May 6 (Reuters) – Qantas Airways Ltd said on Thursday it would keep its corporate headquarters in Sydney and low-cost arm Jetstar would retain its head office in Melbourne after reviewing its property portfolio in an effort to cut costs during the pandemic. It will make some smaller…
In pursuit of the Biden administrations national conservation goal of conserving at least 30% of the nations lands and waters by 2030, key members of the Biden cabinet unveiled its Conserving and Restoring America the Beautiful Plan offering insight on the role of working lands and strengthening conservation efforts over the next 10 years to…
The EUs recovery fund and private investors will push investment to a level not seen for more than a decade, but the risk of corporate insolvencies could hamper the European economy take-off. According to the European Commissions economic forecast published on Wednesday (13 May), the improved economic outlook, favourable financing conditions, and recovering corporate profitability…
FRP Advisory reported a drop off in restructuring appointments in the last financial year as government financial aid protected many businesses from collapse during the Covid pandemic. The professional services firm, which plans to pay a dividend for the year, said the number of insolvency appointments it secured in the last 12 months was down…
By Wayne Robinson | 14 May 2021 Almost a year to the day after Melbourne print business Bambra Press went into voluntary administration, John Wanless will once again take over the business, as it emerges from its DOCA (deed of company arrangement), following a near unanimous vote from creditors to accept 20c in the dollar.…
Member Article North East business owners trying to get their operations back up to full speed as the economy reopens are potentially facing a triple challenge to achieving their goals. Thats the view of Alexandra Withers, North East chair of insolvency and restructuring trade body R3, who was speaking after the publication of the official…
An Auckland property company that took millions in taxpayer funds to house the homeless has left Inland Revenue (IRD) and landlords out of pocket after going into liquidation. File picture. Source: rnz.co.nz By Nita Blake-Persen for rnz.co.nz Silverfern Property Services has received more than any other outfit for emergency housing – $14.7 million – and…