Innovative measures to address debt are required to help the worlds more than 100 middle-income countries expand their economies and exit the COVID-19 pandemic, UN Secretary-General Antnio Guterres told the General Assembly on Thursday. Addressing a high-level meeting on these nations, which account for more than half of the UNs 193 Member States, he underlined…
DetailsImage courtesy of the Rochester Rhinos First, let me say I know PSP is a Philly-centric soccer blog. But I hope youll indulge me today because, earlier this week, some news dropped that I could not let pass without comment. Specifically, this: Exclusive: Jamie Vardy has bought US soccer team @RochesterRhinos Striker to be co-owner…
DetailsVideo PlayerClose A UN General Assembly high-level meeting on middle-income countries is held at the UN headquarters in New York, on June 17, 2021. Guterres on Thursday called for debt relief extension for middle-income countries. (Eskinder Debebe/UN Photo/Handout via Xinhua) UNITED NATIONS, June 17 (Xinhua) — United Nations Secretary-General Antonio Guterres on Thursday called for…
DetailsOn Tuesday, the National Company Law Tribunal (NCLT) questioned the extensive haircut that lenders have agreed to take in the insolvency resolution of Videocon group companies. Billionaire Anil Agarwals Twin Star Technologies has proposed to pay 2,962 crore against admitted claims of 64,838 crore, implying a 95.85% loss to all Videocon creditors. The tribunal noted…
DetailsA lifeline for struggling businesses in the United Kingdom the most significant insolvency reforms for a generationCorporate Insolvency and Governance Act 2020The Corporate Insolvency and Governance Act 2020 (the Act) entered into force on 26 June 2020. The Act represents the most significant reforms to the insolvency framework in the United Kingdom since, at least,…
DetailsReuters reports that a USDA spokesperson said the agency will be ready to process payments on an estimated $4 billion in debt relief for 17,000 Black, Indigenous, Hispanic and Asian farmers once legal battles are resolved. It planned to start the payments in June. “USDA will continue to forcefully defend its ability to carry out…
DetailsLaw360 is providing free access to its coronavirus coverage to make sure all members of the legal community have accurate information in this time of uncertainty and change. Use the form below to sign up for any of our weekly newsletters. Signing up for any of our section newsletters will opt you in to the…
DetailsNorth Carolina-based HomeTrust Bank has announced plans to close nine branches as part of a wider business restructuring plan. The bank will also repay loans and bring its small business loan function in-house. HomeTrust said in an announcement this week that the closures would affect locations in North Carolina, Tennessee, and Virgina, totalling 22% of…
DetailsYork-based family owned business, Riccall Carers Ltd, has ceased trading after more than 20 years of providing home care for vulnerable and elderly people throughout York and Selby. The business was established in 1998 and provided personal care home visits to around 180 private and local authority-funded clients in the region. It held contracts with…
Details(BLOOMBERG) – Troubled flag carrier Garuda Indonesia faces a key deadline on Thursday with a payment on its Islamic debt that will reflect its ability to deal with a financing crunch. The South-east Asian airline has been trying to avoid bankruptcy as it struggles with the decimation of the global travel industry due to the…
Details