Camera Icon If you can make a payment before the June 1 rate adjustment blow, it could save you thousands of dollars in the long term. But be careful you dont upset other plans in your enthusiasm to clear the debt. Credit: Engin_Akyurt/Pixabay (user Engin_Akyurt) Share to Facebook Share to Twitter Email Us Copy the…
DetailsThe Centre is in discussions with banks to work out a regulatory mechanism to transfer assets attached by various investigative agencies to a buyer or successful resolution applicant under the Insolvency & Bankruptcy Code (IBC). At present, if investigating agencies such as the Enforcement Directorate have attached assets of a fraudulent bankrupt borrower, lenders are…
DetailsHouse Speaker Kevin McCarthy (R-Calif.) speaks alongside Rep. Garret Graves (R-La.) to announce that he had reached a deal with President Biden to raise the debt ceiling at the U.S. Capitol on May 27, 2023. | Francis Chung/POLITICO The debt ceiling deal that President Joe Biden and House Speaker Kevin McCarthy struck late Saturday is…
DetailsFor the first time in six years, financial creditors beat operational creditors in invoking insolvency proceedings under the bankruptcy law in the last fiscal year. The data compiled by the Insolvency and Bankruptcy Board of India (IBBI) showed that 650 cases of corporate insolvency resolution process (CIRP) were initiated by financial creditors in FY23, against…
DetailsUK-based AI drug discovery company BenevolentAI has announced to lay off about 180 employees as part of a restructuring plan that resulted from a strategic review, while CFO (Chief Financial Officer) Nicholas Keher has resigned. According to BusinessCloud, the company will streamline and reorganise operations across two business units — the Tech Business Unit and…
DetailsAndrii Yalanskyi In my last article, I valued 3M (NYSE:MMM) shares at $99 and recommended staying away till we have more details on the risks regarding the litigations. Since then, the stock price has declined below my target valuation. Seeking Alpha Since that article, the company has released Q1 2023 earnings and announced restructuring ahead…
DetailsThe company behind the annual Manchester Food And Drink Festival has entered into liquidation due to a “triple whammy” of challenges. The event, which has been held in the city for the past 25 years, attracted chefs including Gordon Ramsay, Jamie Oliver, Tom Kerridge and Michel Roux. Manchester Food and Drink Festival Limited (MFDF) was…
DetailsJoin the most important conversation in crypto and web3! Secure your seat today Belgian cryptocurrency lending platform Bit4You has suspended its operations after one of its service providers, CoinLoan, was declared insolvent by a court in Estonia. Bit4You learned of CoinLoan’s insolvency on April 24, and that it no longer has necessary registration as a…
DetailsLast week, beleaguered industrial conglomerate 3M (MMM -0.11%) dismissed recently installed Group President and Chief Business and Country Officer Michael Vale due to “inappropriate personal conduct and violation of company policy.” Vale was arguably the second-most-important executive at the company, but does his departure significantly impact the investment case for the company? Who is Michael…
DetailsPieces of Imperial Palace in Saipan are being auctioned off. But that misbegotten project has not quashed ambitions for casino gambling on the tiny US Pacific island, Muhammad Cohen reports. Over the past decade, Imperial Pacific Internationals Saipan casino project has gashed a path of destruction across the Commonwealth of Northern Marianas Islands, specks of…
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