MUMBAI: Unrest is brewing at bankrupt Aircel, where theres been no sign of progress on selling assets as the insolvency resolution process passes the midway stage, prompting fears the company may be headed for liquidation. At a meeting last week, lenders rejected proposals to sell the telcos optic fibre network and scrap and to pay…
DetailsBanks and other lenders are being urged to do more to help consumers in a debt trap thanks to mounting credit card bills. The financial watchdog ASIC says it expects card providers to identify people in difficulty after finding 18.5 per cent of cardholders were behind in repayments, could make only the minimum repayments or…
DetailsFewer companies wound up operations in Cayman last year as opposed to 2016. These are the findings of the Offshore Corporate Insolvency Restructuring Annual Review 2017 compiled by Applebys. For 2017 40 companies filed insolvency petitions in the Caymans jurisdiction, as opposed to 70 in 2016. Dispute resolution partner at…
DetailsSubcontractors WAs Louise Stewart has revealed she plans to step down from her role as chairwoman of the advocacy group to pursue a tech-based solution to the non-payment of subcontractors. Ms Stewart, who developed a healthcare technology platform that she has since sold, became a campaigner for the WA industry when she started helping her…
DetailsFewer companies wound up operations in Cayman last year as opposed to 2016. These are the findings of the Offshore Corporate Insolvency Restructuring Annual Review 2017 compiled by Applebys. For 2017 40 companies filed insolvency petitions in the Caymans jurisdiction, as opposed to 70 in 2016. Dispute resolution partner at…
DetailsBanks and other lenders are being urged to do more to help consumers in a debt trap thanks to mounting credit card bills. The financial watchdog ASIC says it expects card providers to identify people in difficulty after finding 18.5 per cent of cardholders were behind in repayments, could make only the minimum repayments or…
DetailsThe BEE partners in a subsidiary of Tubular Technical Construction (TTC) applied for provisional liquidation of the company after it failed to honour an agreement to pay R24 million in outstanding dividends. TTC had paid R11 million out of an agreed R35 million, but had fallen into arrears to the tune of R8.45 million, according to…
DetailsAlmost one in six people struggle with credit card debt, and balance transfers don’t always help cut the amount of interest consumers pay, the financial regulator says. A review carried out by the Australian Securities and Investments Commission to be released on Wednesday shows 18.5 per cent of consumers are struggling with credit card debt.…
DetailsMICHEL EULER/AP In France the workforce is highly unionised and labour laws so robust that it is incredibly hard to dismiss an employee. OPINION: The former chief executive of France Telecom, as well as six other executives, will stand trial for the suicides of about 60 workers. In 2006, France Telecom announced plans to restructure…
DetailsOn 20 March 2018, the Department for Business, Energy and Industrial Strategy (BEIS) published a consultation document on insolvency and corporate governance, which sought views on proposals to improve the governance of companies when they are in or approaching insolvency. The consultation document went on to explain that the intention is to reduce the risk…
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