A man withdraws money from an ATM at a branch of Vietnam Prosperity Joint Stock Commercial Bank (VPBank) in Hanoi, Vietnam Nov 15, 2017. (Reuters photo) HANOI: Vietnams national assembly on Monday gave authorities the ability to declare troubled banks bankrupt, through an amendment to a law on the operation of credit organisations, the government…
DetailsJanuary 4 2018, 12:01am, The Times Ross Maguire Once lawyers get hold of a system there will inevitably be unnecessary delays and expenses The new personal insolvency system had some spectacular successes last year. It was set up to deal with unsustainable personal debt in Ireland, which in the main means mortgage debt, particularly on family…
DetailsThe insolvency regulator has amended regulations to allay creditor concern on valuation of bids for insolvent companies. The Insolvency and Bankruptcy Board of India (IBBI) has also cleared the confusion over what constitutes a dissenting lender. Amendments to the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations say liquidation value to be paid…
DetailsMUMBAI: Kolkata-based Adhunik Group has received about 15 to 20 separate expressions of interest (EoIs) collectively for its four struggling resources and metals companies that now await the resolution of Rs 5,000 crore in debt and claims at dedicated insolvency courts. Adhunik Alloys and Power, Adhunik Metaliks, Zion Steel, and Orissa Manganese and Minerals await…
DetailsSpotify wants to sell its shares to public investors this spring. And as part of its prep plans, the streaming music company has cleaned up a sticky debt deal, with the help of a big Chinese tech company. The short version: TPG and Dragoneer Investment Group, who had led a debt round that lent $1…
DetailsGLASGOW, Scotland, Jan. 3, 2018 /PRNewswire/ — The new debt respite bill which is due to be implemented by February 2018 strives to place a duty of care on lenders to grant respite for families with children and young people in debt. Kelly Tolhurst MP has proposed a bill in parliament that aims to give families and…
DetailsA major labour hire company in the black coal industry has warned it risks insolvency due to a ruling that has resulted in it owing hundreds of workers more than $3 million. One Key Resources group, which supplies workers to BHP Billiton and Glencore, has appealed the Federal Court’s decision that found its broad-coverage enterprise…
DetailsNOT A PENNY Six months on from the landmark ruling no cash has been paid into HMRC’s bank account THE public purse has still not received a penny of the £72 million owed to the taxman by the liquidated company which owned Rangers FC. Six months on from a landmark ruling, payments are being made…
DetailsMumbai: Within few months of banks initiating insolvency proceedings against a dozen large corporates, insurers have put together a customised cover to protect the professionals appointed to run these defaulting firms. The cover is aimed at ensuring that the insolvency professional (IP), who takes on the role of the firm’s CEO at the behest of…
DetailsGet instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here. OvaScience (NASDAQ: OVAS) today provided a corporate update. The Company announced initial clinical data from its ongoing Phase 1 trial of OvaPrime in women with primary ovarian insufficiency (POI) and poor ovarian response (POR). In an interim…
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