Bombardier executives are pointing to their companys third-quarter financial performance as evidence that a turnaround plan started several years ago is working. That plan has seen Bombardier divest its commercial aircraft and rail business, leaving it solely focused on producing and selling business jets. Our plan is working, chief executive Eric Martel said on 2…
DetailsBombardier executives are pointing to their companys third-quarter financial performance as evidence that a turnaround plan started several years ago is working. That plan has seen Bombardier divest its commercial aircraft and rail business, leaving it solely focused on producing and selling business jets. Our plan is working, chief executive Eric Martel said on 2…
DetailsIn a bid to streamline the Corporate Insolvency Resolution Process (CIRP) and prevent delays in the execution of the resolution plans, the Insolvency and Bankruptcy Board of India (IBBI) has floated a discussion paper and proposed amendments to the existing regulations. The proposed amendments suggest to structure the resolution plan in two parts Part A…
Details4 mins. to read Interest Rates Heading Higher? Well, we now know that the Governor of the Bank of England and his committee voted in favour of holding the Base Rate at 5.25%. But is that the right decision? Various notables in the City consider that it would have been better to have raised the…
DetailsHow Does Debt Consolidation Work? There are several different ways to consolidate debt, and each works slightly differently. These include using a: Personal loan Home equity loan Balance transfer card In each case, youll open the new account and use the money from your new loan to pay off your existing debts like credit cards.…
DetailsBanks across the globe have been undertaking restructuring efforts to focus more on core operations. While these efforts will be fruitful in the long run, they have resulted in higher costs, hurting banks bottom-line growth. Moreover, the uneven economic recovery in developed and emerging nations is expected to hurt revenue growth for the companies within…
DetailsInsolvency regulator IBBI has come up with slew of proposals to ensure timely resolution and higher realisations in corporate insolvency resolution process (CIRP). The measures outlined in a new IBBI discussion paper include seeking CoC approval for operational expenses, holding regular CoC meetings (mandatory monthly meeting), holding deliberations on valuation methodology and disclosure of fair…
DetailsOn November 1, the District Court of The Hague declared the company Celtic Koeling bankrupt. M.W. Schller was appointed as curator. The Nieuw-Vennep-based refrigeration company was founded in 1997, working in the design and installation of custom refrigeration and freezer systems, air conditioning systems and turnkey solutions for the refrigeration of vegetables, fruit, flowers and…
DetailsMandatory monthly review of the progress of the resolution process, by the Committee of Creditors (CoC), disclosure of fair value to all stakeholders are among the amendments proposed by the Insolvency and Bankruptcy Board of India (IBBI) to make the Insolvency and Bankruptcy Code (IBC) process more transparent. Creditors dissenting on a resolution plan under…
DetailsA recent judgment of Justice Derrington in R.W. Pascoe Pty Ltd v Crimson Fresh Produce Pty Ltd (subject to deed of company arrangement) [2023] FCA 705 highlights the supervisory role to be played by the courts to ensure that a deed of company arrangement (DOCA) is for a proper purpose. In this case, the court…
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