Enlarge this image U.S. Education Secretary Miguel Cardona speaks at a March briefing at the White House. Drew Angerer/Getty Images hide caption toggle caption Drew Angerer/Getty Images The U.S. Education Department announced Thursday that it is discharging the outstanding student loans of more than 323,000 borrowers who have significant, permanent disabilities, and will remove barriers…
DetailsMoney / Business jacoblund / Getty Images/iStockphoto The difference between bankruptcy and insolvency can be confusing. However, its important to understand the distinction, especially if you own or run a company. Keep reading to take a look at insolvency and explore how it differs from bankruptcy. What Is Insolvency? Insolvency refers to an individual or…
DetailsBy Ed Frankl Thyssenkrupp AG said Thursday that it will sell its Carbon Components business to Action Composities GmbH as it continues to slims down its portfolio as part of a corporate restructuring. Carbon Components, which has around 100 employees, develops and produces high-performance braided wheels for sports cars, motorcycles and mountain bikes, among other…
DetailsIf Star were eligible to buy any of Crowns casinos, this is an option that its chief executive, Matt Bekier, says would also be looked at but it would depend on the price of Crowns pieces he said. Loading But to capitalise on potential opportunities, Star needs the financial readies. And thats where the restructuring…
DetailsThe recent amendments by the Insolvency and Bankruptcy Board of India (IBBI) via the IBBI (Corporate Insolvency Resolution Process or CIRP) (second amendment) Regulations, 2021, are welcome steps towards bringing in greater transparency and accountability in conducting resolution processes under the Insolvency and Bankruptcy Code (IBC), 2016. Once the CIRP is initiated, an insolvency professional…
DetailsMember Article Corporate insolvencies fell by 9.3% to 1,094 in July 2021 compared to Junes figure of 1,206, and increased by 13.4% compared to July 2020s figure of 741 Personal insolvencies fell by 7.8% to 9,079 in July 2021 compared to Junes figure of 9,848, and were 23.8% higher than July 2020s figure of 7,335.…
DetailsThe Insolvency and Bankruptcy Code, 2016 (IBC) is a noble law because it relieves stress, be it of a company, a limited liability partnership, a proprietorship or partnership firm or an individual. However, the discussion here is limited to companies as provisions of the IBC relating to individuals, except in relation to personal guarantors to…
DetailsRetail business owners and directors are being urged to seek help immediately if theyre struggling to pay their tax because of pandemic-driven cash flow issues. Speaking up now could ensure retail owners have more options to save their business or restructure, according to national business rescue and insolvency firm, Jirsch Sutherland. Inconsistent cash flow has…
DetailsAt the end of July, a one-time Indian alcohol tycoon named Vijay Mallya was declared bankrupt by a British court. This ruling will allow a consortium of 17 Indian banks to go after Vijay’s global assets and could potentially mean Vijay will be extradited back to his home country in the very near future. Vijay…
DetailsIFCI, Sidbi and Bank of Maharashtra have also filed an appeal in the NCLAT against VIL’s debt resolution, saying recovery is miniscule and it makes no sense to accept a 96% haircut TopicsVideocon Industries|NCLT Dev Chatterjee | Mumbai Last Updated at August 18, 2021 17:17 IST Delhi-based lender IFCI Ltd has moved the National Company…
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