The Insolvency Service of Ireland has warned the economic impact of Covid-19 may exacerbate the issue of unsustainable debts and create new debt problems for others, especially when the existing emergency financial support measures are cut. The ISI said the personal insolvency framework remained operational and continued to be available to those who needed it…
DetailsThe clarity of purpose created by this change will protect shareholder value, enabling each business to focus on their respective strategic opportunities and challenges presented by the accelerating energy transition. Shareholders will get one share of each new business for each AGL share they currently hold. The demerger plan, first flagged by then-CEO Brett Redman…
DetailsThe statement again confirmed that GFG Alliance had reached a formal standstill agreement with Credit Suisse Asset Management over LPMA debts related to Greensill bonds, which will enable the business to complete full refinancing. And it confirmed that the deal with US private equity firm White Oak Global Advisers to refinance LPMA which includes the…
DetailsMotorcyclists queue-up for fuel at a petrol station in Sudan’s capital Khartoum on June 10, 2021. Sudan has ended fuel subsidies as part of an IMF-backed reform programme, helping it secure a $2.5 bn loan from the financial institution The IMF on Tuesday approved a $2.5 billion loan for Sudan, and with the World Bank…
DetailsWhen the bankruptcy code was brought in five years ago, there was much hope, not only in India but in the entire global business community. No wonder the very next year, Indias ranking in the Ease of Doing Business shot up from 108 to 52. However, after five years, except for a few big-ticket hits,…
DetailsSAN JOSE The reopening of a bankrupt downtown San Jose hotel thats been closed since March in the wake of the coronavirus has landed in limbo after a judges ruling. A set of decisions by a U.S. Bankruptcy Court judge enables the start of an arbitration proceeding to resolve a dispute between the bankrupt Fairmont…
DetailsWith the return of the Euros, football has dominated public attention and conversation. The highly-anticipated event is not without controversy, due to the close relationship between the sport and betting. For those who have struggled with a gambling addiction, the return of the highly-publicised event is a concerning trigger. READ MORE: Londoner started walking to…
DetailsImage counts for everything in the current climate, as travel agencies look to reassure their customers they can handle their bookings as economies start to recover. And company travel managers will be seeking guarantees from them that they can cope with a surge in activity as travel restrictions lift, particularly as governments wind down their…
DetailsCabinet backs debt relief extension State-owned firms to help until year-end People follow social distancing while queuing at a Government Savings Bank branch in a shopping mall.(Photo: Varuth Hirunyatheb) The cabinet on Tuesday approved seven state-owned financial institutions extending debt relief measures for their customers for another six months to help ease the impact of…
DetailsThe IMF on Tuesday approved a $2.5 billion loan for Sudan, and with the World Bank sealed a landmark deal that unlocks nearly $50 billion in debt relief for the impoverished African nation. The announcement came after the International Monetary Fund finalized an agreement with 101 donor countries allowing Sudan to clear roughly $1.4 billion…
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