NBCC and Suraksha group, which are in the race to acquire Jaypee Infratech under the insolvency resolution process, have submitted revised bids and improved their offers for financial creditors. TopicsNBCC|Jaypee Infra insolvency|Jaypee Infra State-owned NBCC and Suraksha group, which are in the race to acquire Jaypee Infratech under the insolvency resolution process, have submitted revised…
DetailsThis is the final part of our three-part series on revenue clawbacks. The scenario: a customer or teaming partner goes bankrupt and then they (or a trustee) demand you return money they already paid you for services or goods duly rendered. In the first entry, we discussed the definition of preferences and the policy purpose…
DetailsMANILA, PhilippinesTaipan Lucio Tans Philippine Airlines (PAL) announced its commitment to continue operationsincluding transporting vaccines and stranded Filipinosamid a looming restructuring plan meant to ensure its survival during the global health catastrophe. Our flights and operations will not be affected in any restructuring, PAL said in a statement on Tuesday (May 11). ADVERTISEMENT We continue…
DetailsCCI has approved Kyndryl Holdings and Grand Ocean Managed Infrastructure Services’ proposal for the internal restructuring of IBM Corporation under the green channel route TopicsCompetition Commission of India|CCI|IBM The Competition Commission of India (CCI) has approved Kyndryl Holdings and Grand Ocean Managed Infrastructure Services’ proposal for the internal restructuring of IBM Corporation under the green…
DetailsAs the first May bank holiday weekend began, the Administration (Restrictions on Disposal etc. to Connected Persons) Regulations 2021 (the Regulations) were enacted and came into effect for all companies entering administration on or after April 30, 2021. The Regulations are, in the main, a policy response to enhance independent scrutiny of so called phoenix…
DetailsCHICAGO, May 11, 2021 /PRNewswire/ –Portage Point Partners, LLC (Portage Point), a business advisory and interim management firm that partners with stakeholders during periods of transition, underperformance and distress, announced today that Adam Chonich has joined the firm as a Managing Director. Adam has well over a decade of turnaround and restructuring experience having advised…
DetailsThe Competition Commission of India (CCI) has deemed approved the green channel notice filed by Kyndryl Holdings LLC and Grand Ocean Managed Infrastructure Services Private Limited in relation to internal restructuring of IBM Corporation. International Business Machines Corporation (IBM Corporation/ seller) plans to spin off its global MIS Business into a new public company, within…
DetailsThe International Monetary Fund (IMF) executive board approved on Monday a financing plan to help mobilize resources needed for the fund to cover its share of debt relief to Sudan. The financing plan relies on a broad effort of IMF member countries, including cash grants and contributions derived from the fund’s internal resources, IMF Managing…
DetailsT.C. | In Spain, 2,086 companies declared insolvency between January and April this year, an increase of 71% compared to 1,217 a year earlier, according to data published in the Official State Gazette and analysed by Iberinform. The strongest growth was in April, when 552 insolvencies were declared, compared to 41 in April last year,…
DetailsBy David Milliken 2 Min Read LONDON, April 15 (Reuters) – More businesses and individuals across Britain were declared insolvent last month than earlier in 2021 though levels remained mostly below those of a year ago as government support muted the impact of the coronavirus pandemic. Britains economy shrank by almost 10% last year and…
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