* Sudan’s debt burden unusually large * Country stuck in deep economic crisis * Government struggling to finance imports * Prime minister hails ‘big day’ (Recasts with $2.5 billion in new funding) By Nafisa Eltahir, Karin Strohecker and David Lawder June 29 (Reuters) – Sudan received approval from the International Monetary Fund on Tuesday for…
DetailsThursday, July 1, 2021 Introduction The government needs to amend the IBC regulation and recognize the difference between various classes of creditors basis priority and value of security interest in the context of corporate insolvency resolution process and corporate liquidation process while ensuring that the ultimate objective of the Code is not obfuscated. The treatment…
DetailsLiquidators and auctioneers saw a booming business during the Covid-19 pandemic even as other companies faced financial distress. Many floundering businessesincluding Century 21 Department Stores and Christopher & Banks Inc. to Loves Furniture Inc.were forced to sell off their inventory, equipment and other assets, often in bankruptcy. The large volume of business owners assets that…
DetailsThe big four accountancy firm KPMG is to rebuild a unit to advise on corporate restructurings just months after selling the UK’s largest insolvency advisory business for more than 350m. Sky News has learnt that KPMG has appointed David Fletcher, a veteran in the UK restructuring market, as an associate partner in its deal advisory…
DetailsWASHINGTON, June 29, 2021The Executive Boards of the World Bank’s International Development Association (IDA) and the International Monetary Fund (IMF) have determined that Sudan has taken the necessary steps to begin receiving debt relief under the enhanced Heavily Indebted Poor Countries (HIPC) Initiative. Sudan is the 38thcountry to reach this milestone, known as the HIPC…
DetailsSUDBURY — The Northern Ontario School of Medicine has received full accreditation of its MD program. The accredidation review was the first in Canada to be performed via virtual visit due to the COVID-19 pandemic. I congratulate NOSM faculty, staff and students who worked hard to maintain full accreditation of the MD program, said Dr.…
DetailsConsolidating your debt can be a good way to lower costs and reach your financial goals If you’re trying to get out of debt, a debt consolidation loan is one strategy to consider. Debt consolidation is when you combine more than one debt into a single debt. In addition to a debt consolidation loan, some…
DetailsProblem debt can leave you feeling hopeless and alone with nowhere to turn but there are always options available. This weekend, Newstalk is teaming up with the Insolvency Service of Ireland (ISI) to encourage people to take that first step towards freedom from debt. Established in 2013 to support people facing personal insolvency, the ISI…
DetailsMany investors, including PE firms, are waiting with bated breath to see how the UK economy, currently dependent on COVID-19-related government support, will respond once that stimulus is withdrawn. An increase in UK company insolvencies is expected, creating opportunities for savvy investors to acquire businesses at bargain prices, while at the same time appearing to…
DetailsThat included one alert created this month called Venice Panther, which had listed as recipients several KPMG staff involved in mergers and acquisitions. That included Sam McClure, a partner in KPMG Australias deal advisory services group. The four companies in that alert were residential aged care outfit Japara Healthcare, which has KPMG as an auditor;…
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