NEW YORK (Reuters) – FirstEnergy Corp said late on Saturday its nuclear and coal power plant units filed for bankruptcy court protection as the company looks to restructure, sell assets and win government support to cope with competitors using lower-cost natural gas. The Chapter 11 filing was made by FirstEnergy Solutions and FirstEnergy Nuclear Operating…
DetailsIn the battle to taking over insolvent Electrosteel Steels, Vedanta Ltd, one of the bidders, on Saturday said it has been declared “successful resolution applicant” under the insolvency process and has received the letter of Intent (LoI). The Anil-Agarwal led company has “accepted” the terms of the LoI. Following a direction from the…
DetailsThe IBC amendments under consideration of the corporate affairs ministry were proposed by a panel led by corporate affairs secretary Injeti Srinivas. New Delhi: Indias bankruptcy law, the Insolvency and Bankruptcy Code (IBC), is set for a major overhaul as policymakers seek to decisively deal with business failures that slow down expansion in Asias third-largest…
DetailsVedanta Limited on Saturday informed stock exchanges that it had received a letter of intent (LoI) for Electrosteel Steels. Vedanta had accepted the terms of the LoI and closure of the transaction would be subject to compliance with applicable regulatory requirements and in accordance with the final terms approved by…
DetailsBULAWAYO South legislator Edie Cross (pictured) has mocked former First Lady Grace Mugabe over her recent spate of misfortunes, saying she must not cry foul as she had also grabbed several properties from powerless individuals during her husband former President Robert Mugabes reign. By NQOBANI NDLOVU This came amid reports that illegal artisanal miners invaded…
DetailsDalmia Bharat Cement was declared the higher bidder after it offered close to Rs6,400 crore in upfront cash payment to the lenders of distressed Binani Cement. Photo: HT Mumbai: Creditors are driving hard bargains with potential suitors of distressed assets in the ongoing corporate insolvency cases, preferring resolution plans that offer upfront cash payments over…
DetailsGambling addictions are leading to soaring debt and a bevy of other problems in Wisconsin.(Photo: Getty Images/iStockphoto) APPLETON – They max-out credit cards, drain their savings and checking accounts, seek payday loans, borrow money from relatives and friends, steal from employers and write bad checks. On rare occasions, they even rob banks. On average, they…
DetailsCredit card consolidation can be a challenging repayment program for consumers which is why National Debt Relief shares some tips about it. The article titled “Top 10 Credit Card Consolidation Articles of 2017 by National Debt Relief” released March 30, 2018, aims to enlighten consumers about credit card consolidation more. Dallas, TX (PRWEB) March 31,…
Details(Recasts with listing date of April 8) DUBAI, April 1 (Reuters) – Saudi Arabia authorities said on Sunday they would list local currency government bonds on the Saudi Stock Exchange on April 8, part of efforts to spur secondary market trading of debt and strengthen state finances. The Capital Market Authority said over 204.4 billion…
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