Oravel Stays Pvt. Ltd, which operates budget hospitality chain Oyo, raised nearly $5 million from Microsoft Corp. at a valuation of $9.6 billion. According to the documents filed by the company with the ministry of corporate affairs, Oyo has sold Series F2 compulsory convertible cumulative preference shares to Microsoft. The development was first reported by…
DetailsGilbert + Tobin has advised the voluntary administrators of the Adaman Group on a major mining restructure. Firm: Gilbert + Tobin (Adaman Group). Deal:Barry Wight and Jeremy Nipps of Cor Cordis have been advised in their capacity as voluntary administrators and deed administrators of Adaman Resources andsix of its subsidiaries, including the Kirkalocka Gold Mine…
DetailsFather-of-two, 40, ‘took his own life after developing gambling addiction while on furlough’ wife says, blaming his death on lure of free online betting sites Luke Ashton, 40, took his own life in flat in Swinton, South Yorkshire, on April 22 Post-mortem examination said the cause of death was hanging, inquest heard His wife Annie,…
DetailsLloyd Parker replaced the takings from the Cathedral Retail Park store with bits of cut-up newspaper after using the stolen cash to attempt to win back what he had lost, Leeds Crown Court was told. The 30-year-old even spent his family’s Christmas savings money to claw back the deficit, but lost it all. Prosecutor Emily…
DetailsOAKLAND, Calif., Aug. 20, 2021 /PRNewswire/ —Spinwheel, the leading intelligent debt API platform for fintechs, announces the hiring of Sean Anderson as Head of Platform and COO. Following the company’s $11MM seed funding, Sean joins the team to grow and scale the business and drive the product roadmap as the company extends beyond its student…
DetailsUnexpected credit losses could leave banks with inadequate loss-absorbing resources, says a new working paper from the BIS. The BIS (Bank for International Settlements) has published a new working paper warning that high corporate indebtedness could present a potential roadblock to the economic recovery. The paper notes that while the Covid-19 pandemic inflicted a profound…
DetailsAditya Khaitan, a promoter of McLeod Russel India, the countrys largest bulk tea producer, has filed an appeal in the appellate tribunal against a National Company Law Tribunal (NCLT) order initiating insolvency proceedings in the company. On August 6, the New Delhi Bench of the NCLT passed an order admitting an application by Techno Electric…
DetailsYour financial conditions can’t be stable. Sometimes you’re doing better, sometimes worse. If you are currently experiencing debt problems, professional services can help you get out of this situation. Qualified specialists will conduct a thorough assessment of your finances and suggest the best course of action. The main thing is to know where to go.…
DetailsBlack farmers throughout the south call Cornelius Blanding daily to ask when the money might come from the US Department of Agriculture. Updates arent coming any other way. Blanding and his staff at the Federation of Southern Cooperatives do their best to stay on top of a federal debt relief program that should have started…
DetailsA restructuring plan is a new restructuring tool introduced into Part 26A of the Companies Act 2006 in June 2020 by the Corporate Insolvency and Governance Act 2020. It constitutes an “arrangement” or “compromise” between the company and its stakeholders and will result in a reduction or reshaping of the liabilities owed to those stakeholders.…
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