NEW DELHI: The insolvency regulator is readying rules that will enable creditors to go after guarantors of ailing companies to recover dues, a move that will tighten the grip around companies as well as their promoters who had given personal covers. The Insolvency & Bankruptcy Board of India (IBBI) is working on guidelines that are…
DetailsA Resolve for Insolvency | Asian Legal Business A Resolve for Insolvency Singapore has made plans to become an insolvency and restructuring hub in the region, and to that end, it passed game-changing laws last year. Lawyers analyse the impact that the new framework has had… Read the full article at: https://www.legalbusinessonline.com/features/resolve-insolvency/76463
Detailsby Tim Boyd Exploring the differences in generations is always a hotly-contested conversation as each generation invariably tries to convince the other that they have been more hard done by. Butthings are not always so black and white, and nowhere is this more visible than the differing money attitudes of Baby Boomers and Generation Z…
DetailsVide the notification dated January 28, 2016 under Section 16E of the Tea Act, the central government had authorised the Tea Board to take over the control and management of the seven ailing tea estates of the GP Goenka-headed company in north Bengal. The Kolkata bench of the National Company Law Tribunal (NCLT) has dismissed…
DetailsThe idea behind debt consolidation is simple: You take on a single, big loan to pay off all or most of your other, smaller liabilities. Story continues below Usually, there are three big reasons to do it. First, focusing on a single monthly debt payment is much easier than chasing due dates for a multitude…
DetailsKenyas beleaguered public universities have been told to further tighten their belts after being slapped with a US$10 million budget cut that will worsen their cash woes, in austerity measures that are meant to avert a looming economic crisis. Last week, Kenyas parliament voted to reduce funding for spending on salaries, learning materials and infrastructure…
DetailsMax Brenner will close more than half its stores for good this coming Monday, only a week after the chocolate and caf chain entered voluntary administration. The swift action follows a rapid review to identify the stores with a financial future. “The decision to close stores is always regrettable but in this case we were…
DetailsHong Kongs biggest television station fired another 150 people on Friday arising from losses in its international business and operational restructuring. Television Broadcasts (TVB) ushered in a wave of lay-offs in June when about 100 staff were told they would be made redundant. A TVB spokesman said in a statement on Friday that the 150…
DetailsNiamh Lyons, Ireland Political Editor Paschal Donohoe said that the high corporate tax receipts came about because of global accounting changesOireachtas TV/PA The exchequer will post its first budget surplus in ten years after a 1 billion windfall in corporation tax was unveiled yesterday by Paschal Donohoe. The finance minister is also set to announce…
DetailsMichael Nagle/Bloomberg The selling that began Thursday rolled into Friday, sending stocks on a two-day ride downward amid higher interest rates even as investors eyed mostly solid payrolls data. The yield on the benchmark 10-year Treasury note climbed to new seven-year highs above 3.2% by late Friday, and that appeared to interrupt the party stocks…
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