The company, known as SixCap, was placed into insolvent liquidation last month in the British Virgin Islands where it’s incorporated, according to a statement dated Feb. 26 from appointed liquidator Baker Tilly. Investors and creditors were told they’re collectively owed more than $143 million, according to a Wednesday report by Singaporean newspaper The Business Times.…
DetailsUnivision Communications is preparing for a restructuring and a change at the top as the company confirmed CEO Randy Falco is preparing his exit, just four months after he signed a two-year contract extension. Word of Falcos plan to retire comes one day after Univision acknowledged that it has tabled plans for the IPO that…
DetailsBANKS owed more than $3.5 billion by Wiggins Island Coal Export Terminal have rejected its latest proposal to change its debt repayment agreement. It is understood the Gladstone facility’s 19 lenders knocked back a proposal for a five-year extension to the September deadline to repay or restructure WICET’s $3.75 billion debt, sending the company back to…
DetailsIn 2017, the Monetary Authority of Singapore introduced a new financial instrument called debt consolidation plan (DCP) to help consumers rein in their bloating debt problem. Essentially, this was meant to help individual borrowers combine their high interest loans into one that could be gradually managed down over 1 to 10 years. But, it also…
DetailsThursday 08 March 2018 Article by Ben Tosi Aussies cant quite tame the urge to splurge according to recent data from peer to peer lender RateSetter which revealed that 28% of balance transfer credit card holders are nearing the end of their promotional period but havent managed to crush their debt. A popular piece of…
DetailsThe chances of stressed power generation units landing in the insolvency court have increased after the Reserve Bank of India revised last month its framework for the resolution of non-performing assets. A more worrying aspect, according to sector analysts, is that these assets totalling more than 80,000 megawatts across operational and under-construction projects may…
DetailsBetsy DeVoss Education Department has mistakenly kicked student loan borrowers out of forbearance. (Ted S. Warren/AP) Chad Godfroy has saved every email from the U.S. Department of Education since submitting an application in 2015 to have his federal student loans cancelled. Despite the continued wait, Godfroy, 38, took comfort in knowing his payments would be postponed as long…
DetailsBy Arif Sharif March 7, 2018, 3:01 PM EST Access to a debt market teeming with yield-hungry investors is helping some cash-strapped nations in the Gulf Cooperation Council kick reforms down the road. Taking advantage of attractive interest rates, Oman raised $6.5 billion in January, its biggest sale on record, to help bridge deficits. And…
DetailsTata Steel Ltd. today said that it has been identified as the highest evaluated compliant resolution applicant for Bhushan Steel Ltd, under the insolvency and bankruptcy process. The steelmaker is currently in discussions with the resolution professional and advisors to the Committee of Creditors on the resolution plan it had submitted, it said in an…
DetailsDALLAS–(BUSINESS WIRE)–Omega Healthcare Investors, Inc. (NYSE:OHI) (the Company or Omega) today announced that its tenant, 4 West Holdings, Inc. (Orianna) and certain of its affiliates (the Debtors), commenced voluntary Chapter 11 proceedings in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division. The action is styled In re 4 West Holdings,…
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