The Insolvency and Bankruptcy Code, 2016, came into effect in August 2016 but for Part III of the Code that related to insolvency and bankruptcy of individuals including personal guarantors to the corporate debtor. In November 2019, the government notified that Part III of the Code would come into effect from 1 December 2019. Before…
Details{{featured_button_text}} Clint Walker SULLIVAN Recipients of the 2021 Redskin Achievement Award were recently announced prior to Decision Day at the Sullivan High School gymnasium. Recipients of this years annual award are juniors: Joann Mathias, daughter of Elizabeth and Michael Mathias, and Ryan Villalobos, son of Michelle Villalobos. Representing the Class of 1968, the originators of…
DetailsA major Dubai property investment fund is in the spotlight after its lenders blocked a debt restructuring plan and raised “serious concerns” about its transparency and governance. Dubai-based Emirates REIT was forced to withdraw a restructuring proposal for its $400 million dollar Islamic bond after a rare campaign of investor activism something not commonly seen…
DetailsMINNEAPOLIS General Mills, Inc. is restructuring its business structure to capitalize on opportunities around digital, data and technology, and e-commerce, according to the company. While the exact details of the restructuring have not been publicly announced, it may entail the elimination of staff and the sale of properties. To be clear, this is not simply…
DetailsEducation is the single highest-return investment most Americans will make, so getting our system of higher-education finance right is fundamentally important for US households and the economy. A key point in the student-loan debate is that the outcomes of borrowers vary widely. Undeniably, a significant number of borrowers are struggling, and are sympathetic candidates for…
DetailsThe agency believes that there have been some positive outcomes from the presence of the IBC despite the delays that are becoming common. TopicsIBC|IBC resolution|debt resolution Financial creditors may realise Rs 55,000-60,000 crore in fiscal 2021-22 through successful resolution plans from the Insolvency and Bankruptcy Code (IBC), credit rating agency Icra has said. The realisation…
DetailsTransport Minister Fikile Mbalula. OJ Koloti/Gallo Images The RAF has reported significant progress in keeping its house in order. For the first time in decades, the entity claimed that it has reported a R3.2 billion surplus for the period ended on 31 March 2021. The company has also increased its investment income from R62 million…
DetailsA battle over who is responsible for cleaning up hundreds of oil and gas rigs in the Gulf of Mexico is quietly playing out in a bankruptcy court in southern Texas. The contestants in this game of fossil fuel infrastructure hot potato: Fieldwood Energy, an offshore drilling company attempting to offload more than $7 billion…
DetailsLaw360, London (June 7, 2021, 3:16 PM BST) — Gefion Insurance A/S was declared bankrupt on Monday after the embattled Danish company failed to fend off a 30 million ($36.5 million) legal claim from a German car rental company. Gefion, which has been in administration for almost a year in a move to pay off…
DetailsWestpac has today outlined the support measures available to help consumer and business customers impacted by the latest lockdowns in Victoria. Customers in need of financial assistance can access our dedicated support team who will tailor assistance to suit the customers circumstances. This may include the following: Consumer Credit card repayment and interest rate reductions…
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