Outlook August 28, 2021 19:59 IST ”Insolvency resolution plans should look to maximise biz value rather than just recover dues” outlookindia.com 1970-01-01T05:30:00+0530 New Delhi, Aug 28 (PTI) The focus of an insolvency resolution plan should be to maximise the value of the business concerned and not just to recover the dues or liquidate the company,…
DetailsTHE economic fallout of the Covid-19 pandemic has led to the establishment of a number of debt-relief and financing options for cash-strapped countries. But just how many emerging markets have benefitted from these initiatives? Debt was already a big issue before the health crisis. According to the International Monetary Fund, 36 of the 70 markets…
DetailsA college graduate calls their family on video to celebrate Kemal Yildirim | Getty Images Earlier in August, the U.S. Education Department under President Joe Biden announced it would cancel another $1.1 billion in student loan debt for about 115,000 borrowers who attended ITT Technical Institute, a now-defunct school. This latest round of forgiveness brings…
DetailsThe focus of an insolvency resolution plan should be to maximise the value of the business concerned and not just to recover the dues or liquidate the company, an IBBI official said on Saturday.The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in implementing the Insolvency and Bankruptcy Code (IBC). Speaking at…
DetailsThe past few weeks have seen debates surrounding the Parliamentary Standing Committees call for an overhaul of the Insolvency and Bankruptcy Code owing to low recovery rates and delays in resolution process. Citing a high rate of pendency and incidences of liquidation, the report laments colossal haircuts taken by creditors. Amongst other things, the report…
DetailsIt also suggested that a professional code of conduct for the CoC be put in place, which would define and circumscribe their decisions, as these have larger implications for the efficacy of the Code. The erosion of value of stressed firms before the initiation of the corporate insolvency resolution process (CIRP) is a matter of…
DetailsMercer County Community College is putting federal money directly into the hands of its students by way of reducing and eliminating debt. And its not waiting around to do so. The school announced that, over the past 16 months, it has forgiven nearly $5 million in qualified balances such as tuition, fees and other costs…
DetailsThe Ministry of Corporate Affairs (MCA) is working to issue a code of conduct for creditors under the Insolvency and Bankruptcy Code (IBC), said MCA Secretary Rajesh Verma on Friday. This comes a month after a Parliamentary panel flagged the disproportionately large and unsustainable haircuts taken by the financial creditors over the years. In some…
DetailsAt Les Ambassadeurs Club, Yu Songbo acquired gambling chips with cheques that then bounced L ondon casino Les Ambassadeurs Club in Park Lane, Mayfair is taking Yu Songbo, a multi-millionaire property developer, to court after he cashed cheques for gambling chips which then bounced, to the High Court to recover the money he owes. The…
DetailsIf you’re having trouble with credit card debt, consolidation could be the way out. Since credit cards tend to have high interest rates, getting rid of credit card debt can be expensive. A popular way to pay it off more efficiently is debt consolidation. Here are the two most common ways to consolidate credit card…
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