Australia: a nation of sandy beaches, unique wildlife, and an undeniable love for sports. For international students, it presents an opportunity to experience a new culture, quality education, and live life like an Aussie. However, theres an underlying issue many may not initially see: the prevalence of gambling in Australian culture. For some, a casual…
DetailsFrom afar, China Evergrande Group had all the makings of a killer distressed-debt trade: $19 billion in defaulted offshore bonds; $242 billion in assets; and a government that appeared determined to prop up the countrys faltering property market. So US and European hedge funds piled into the debt, envisioning big payouts to juice their returns. What they got instead…
DetailsThe Mumbai bench of the National Company Law Tribunal has ordered the liquidation of fugitive diamantaire Mehul Choksi-promoted firm Gitanjali Gems. The tribunal has also appointed Santanu T Ray as the liquidator.The company was originally admitted under the Corporate Insolvency Resolution Process (CIRP) in October 2018. It has admitted liabilities of over Rs 12,558 crore.…
DetailsIn short: The company which operates the Peko mine in Tennant Creek has been placed into voluntary administration. Elmore has told the Australian Stock Exchange it is “insolvent or likely to become insolvent at some future time”. What’s next? Employees have been told they still have jobs and will continue to be paid a wage, as administrators assess…
DetailsPlease see full publication below for more information. BUSINESS RESTRUCTURING REVIEWVOL. 23 NO. 1 JANUARYFEBRUARY 20241IN THIS ISSUE1 The Year In Bankruptcy: 20232 Lawyer Spotlight: Dan T. Moss7 Second Circuit Adopts Transfer-by-Transfer Approach to Bankruptcy Codes Safe Harbor for Securities Contracts Payments12 Chapter 15 Filing as a Litigation Tactic Not Bad Faith Justifying Automatic Stay…
DetailsKey takeaways Interest rate changes have an immediate effect on revolving debts like credit cards. Secured loan interest rates don’t rise or fall as much as unsecured loan rates. Mortgage debt interest rates don’t fluctuate like other types of secured debt. Interest rate changes have an impact on every dollar you borrow. They can make…
DetailsDon’t let your tax debt overwhelm you this year there are lots of options to help cover what you owe. Getty Images/iStockphoto There’s a reason tax season can feel stressful each year. Not only do you have to gather a ton of paperwork and information to file, but in some cases, life throws us a…
DetailsEY-Parthenon teams were appointed as insolvency administrators in March 2021. From the start, a unique aspect to this engagement was the media attention. Given the size and impact of this bankruptcy, this was a hurdle both Abengoa and EY-Parthenon had to overcome and engage with regularly throughout the process. Loan requests Initially, the EY-Parthenon teams…
DetailsThese nations, home to about 62% of the worlds poor, grapple with critical challenges and lack necessary support, particularly in access to finance. UNCTAD Deputy Secretary-General Pedro Manuel Moreno spotlighted on 6 February the challenges and potential of middle-income countries during a speech at a high-level conference in Rabat, Morocco. Mr. Moreno said these nations…
DetailsThousands of Pennsylvania residents could see their unpaid medical bills wiped out by a new medical debt relief program proposed under Gov. Josh Shapiros budget. The budget includes $4 million to partner with a to-be-determined organization that purchases medical debt in bulk for pennies on the dollar, eliminating patients responsibility for paying it off. The…
Details