Fresh changes to the insolvency code removed the moratorium hurdle that lessors faced in taking back control of aircraft from bankrupt airlines. Transactions, arrangements, or agreements related to aircraft, aircraft engines, airframes, and helicopters will be exempt from the moratorium under the new amendment to the Insolvency and Bankruptcy Code, 2016, according to a government…
DetailsTorrent Investments Pvt. Ltd has filed a Letter of Urgency in the Supreme Court challenging the 2 March order of National Company Law Appellate Tribunal, that allowed Reliance Capitals lenders to initiate a second auction, as a part of its corporate insolvency resolution process. In its three-page letter, Torrent said it has sought the apex…
DetailsWASHINGTON President Joe Biden announced another round of federal student loan forgiveness on Wednesday as borrowers brace for payments to restart after a three-year pause that began during the COVID-19 pandemic. The Democratic president’s latest step will help 125,000 borrowers by erasing $9 billion in debt through existing relief programs. In total, 3.6 million borrowers…
DetailsReuters. In a significant leadership shift, French IT firm Atos announced on Wednesday that Yves Bernaert has assumed the role of CEO. He replaces the interim leadership group comprising Nourdine Bihmane, Philippe Oliva, and Diane Galbe. This change comes in the wake of a series of failed takeover attempts and profit warnings that led to…
DetailsBENGALURU, Oct 4 (Reuters) – India has amended its insolvency rules to exclude leased aircraft from a moratorium that kicks in when an airline goes into bankruptcy, according to a government notification released on Tuesday, a move that could resolve discrepancies between global leasing rules and its bankruptcy laws. Some provisions of the Indian Bankruptcy…
DetailsTopline President Joe Biden will cancel an additional $9 billion worth of student debt the White House announced, after federal student loan repayments restarted this month following a three-year pause due to the pandemic. Key Facts According to the White House, the latest loan relief will help 125,000 Americans and is a result of changes…
DetailsWASHINGTON (AP) President Joe Biden will announce another wave of federal student loan forgiveness on Wednesday, according to a White House official, as borrowers brace for payments to restart after a three-year pause that began during the COVID-19 pandemic. His latest step will help 125,000 borrowers by erasing $9 billion in debt through existing relief programs. In…
DetailsWASHINGTON (AP) President Joe Biden will announce another wave of federal student loan forgiveness on Wednesday, according to a White House official, as borrowers brace for payments to restart after a three-year pause that began during the COVID-19 pandemic. His latest step will help 125,000 borrowers by erasing $9 billion in debt through existing relief…
DetailsPresident Biden has long believed that college should be a ticket to the middle class, not a burden that weighs on families. Thats why from day one, his Administration has taken unprecedented steps to fix the broken student loan system, make college more affordable, and bring the promise of higher education in reach for more…
DetailsA building industry association says the customers of a Victorian home builder in voluntary liquidation might have to pay more to get their homes completed. Key points: The company owes $2 million to 200 unsecured creditors and has left 50 projects unfinished in Victoria The Master Builders Association of Victoria says customers might have to pay…
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