NEW DELHI: Metals and mining giant Vedanta Ltd today said it has submitted a preliminary expression of interest (EoI) for Jaypee Infratech currently undergoing the Insolvency Resolution Proceedings (IRP). The company has “submitted a preliminary non-binding Expression of Interest for submission of resolution plan of Jaypee Infratech Ltd under corporate insolvency process (CIRP),” Vedanta Ltd…
DetailsNEW DELHI: The government is considering amending its insolvency law to prevent existing promoters of bankrupt companies from reacquiring them during the resolution process at a steep discount. The current Insolvency and Bankruptcy Code, passed last year, does not prevent promoters from bidding for these stressed assets during the resolution process. Some owners are reported…
DetailsYesterday, high stakes poker players and owner of Nottingham’s Dusk Till Dawn Poker Club weighed in with his version of events of the Matt Kirk and Leon Tsoukernik $2m debt incident, and his blog post might just cause people to change their current opinion on the situation. …
DetailsSAN MATEO, Calif., Nov. 13, 2017 /PRNewswire/ — As revolving debt such as credit cards continues to increase, Andrew Housser, co-founder and CEO of Freedom Debt Relief (FDR), offers four signs to spot debt that’s becoming unmanageable. U.S. consumers owe $3.79 trillion in consumer debt. The average household with credit card debt owes nearly $17,000 on…
DetailsNew Delhi, Nov 13 () Metals and mining giant Vedanta Ltd today said it has submitted a preliminary expression of interest (EoI) for Jaypee Infratech currently undergoing the Insolvency Resolution Proceedings (IRP). The company has “submitted a preliminary non-binding Expression of Interest for submission of resolution plan of Jaypee Infratech Ltd under corporate insolvency process…
DetailsOpinion Jonathan Thornton 13 Nov 2017 02:58pm It is a common misconception that trading whilst insolvent is an offence and one that leads to personal liability on the part of the directo… Read the full article at: http://economia.icaew.com/en/opinion/november-2017/insolvency-litigators-turning-to-third-party-funding
DetailsGeneral Electric set forth a new agenda as it tries to restructure its way back to stronger growth, with earnings estimates lower than Wall Street forecasts, a reduced dividend and an aggressive corporate restructuring. The Boston-based 125-year-old industrial conglomerate also said it was cutting the number of seats on its board. Investors had initially reacted…
DetailsKUALA LUMPUR: The number of Malaysians under 30 years old declared bankrupt from January to September 2017 due to credit card debts declined to nine individuals compared to 22 last year. Deputy Finance Minister, Datuk Othman Aziz (pix), said one of the major causes of bankruptcy among younger generation due to credit card debt was…
Details(Reuters) – General Electric Co (GE.N) said on Monday it would chop its quarterly dividend in half, as part of an overhaul of the company that new Chief Executive John Flannery is due to roll out later in the day. FILE PHOTO: The ticker and logo for General Electric Co. is displayed on a screen…
Details“The large amount of debt these households are carrying is a caution,” says Housser. “Owing that amount, with average interest rates on credit cards more than 16.7 percent, is unsustainable, especially when median household income is just $57,617.” Most people don’t realize they’re over their heads until it is too late, Housser says. Trouble signs…
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