Morgan Stanley on Monday lowered its base case for Hertz to $US0 from $US2, citing risks of de-listing or a potential liquidity shortfall. The firms base case is now equal to its bear case. Morgan Stanley also lowered its bull case for Hertz to $US3 from $US8. The updated price target reflects the banks view…
DetailsSo you have some debt, and youd like to get rid of it. Great! But when it comes to researching strategies and tips for paying off your balances, its easy to get lost down a rabbit hole. And that rabbit hole can distract you from the real work of getting organised and tackling your debt.…
Details(Bloomberg) — World Bank President David Malpass expects private creditors to work out a methodology to join the Group of 20 in providing debt relief for the worlds poorest economies to help them fight the global pandemic. The G-20 in April agreed to allow a temporary suspension of debt repayment for more than 70 impoverished…
DetailsA Traralgon clothing and homeware retailer is praising locals for their support as it re-opens its doors after the company went into voluntary administration in February. Traralgon Ishka is trading again after the company shut its 58 stores due to the double whammy of being hit by COVID-19 in March and going into voluntary administration…
DetailsRestructuring advisory firm Cor Cordis has been appointed as the voluntary administrator of Mayfair 101’s IPO Wealth Holdings. The move follows the appointment of receivers to IPO Wealth in May by Vasco Trustees after two repayments were missed. The AFR reported that these missed repayments were worth $3 million and followed the freezing of redemptions…
DetailsAccording to Bank of Korea’s figures for 2019, South Korea’s household debt is rising by an estimated US$100,000 (3.1 million baht) every minute, amounting to a whopping US$1.7 trillion today. Every day, more than 100 South Koreans are declared bankrupt. Meanwhile, the government’s debt has skyrocketed to a total of US$693 billion, increasing by 111…
DetailsAlexandra Bigot: Latham is ‘very focused’ on creating a top-tier Paris restructuring capability Arrival of Alexandra Bigot follows on from insolvency lateral hires in London and New York Latham & Watkins has hired partner Alexandra Bigot from Willkie Farr & Gallagher in Paris to bolster its restructuring and special situations practice. Bigot is the latest…
DetailsGas and electricity customers face the prospect of debt collectors chasing up unpaid bills after the energy industry regulator told suppliers they no longer had to offer unlimited coronavirus payment holidays. Ofgem gave the go-ahead for the restart of debt collections weeks after calling on energy suppliers to offer help to customers facing financial pain…
DetailsIf we allow people with HELP loans to use their compulsory super contributions to pay off thoseloans, this will benefit not only students and debt holders but also government coffers. I proposethis would be in addition to the current repayment arrangement. Currently you pay back your HELP debt through the tax system once you earn…
DetailsUS shale companies could be forced to write down $300bn of their assets this year, starting in the second quarter, as operators begin to account for the oil-price collapse on their balance sheets, according to a new study. The huge impairments about half the net value of the companies property, plant and equipment would increase…
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