European creditors have pulled a recently announced debt relief package for Greece in protest at subsequent budget spending measures announced by Athens. Greek stocks fell sharply and the government’s borrowing rates jumped higher as investors fretted over a potential flare-up in the country’s bailout problems and the possibility of early elections in the country. The…
DetailsEuropean creditors on Wednesday pulled a recently announced debt relief package for Greece in protest at subsequent budget spending measures announced by Athens. At a meeting of the eurozone’s 19 finance ministers, Greece’s creditors offered some immediate debt help to Greece. They include smoothing some of Greece’s repayments to prevent debt humps and a…
DetailsA statement by the countrys international creditors Thursday denounced the governments controversial Christmas bonus payment for low-income pensioners but left a window of hope that the crisis will be overcome by leaving the decision for short-term relief measures to eurozone countries. Euro-area member-states will decide how to proceed with the short-term debt measures agreed in…
DetailsTOKYO — Takata Corp.s selection of a bidder is running behind schedule as the shortlisted companies embark on a more thorough review of the airbag maker behind the biggest auto safety recall, people familiar with the matter told Bloomberg. The successful bidder may only be named sometime in the January-to-March quarter, the people said, asking…
DetailsNEW DELHI: The Insolvency and Bankruptcy Board of India (IBBI) today notified regulations for liquidation process whereby an insolvency professional is barred from acting as a liquidator unless that individual is independent of the corporate debtor concerned. The regulations come into force with immediate effect. IBBI, set up under the Insolvency and Bankruptcy Code, seeks…
DetailsThe European Commission launched its proposals for changes to insolvency law a few weeks ago, noting that Malta ranked last out of all the member states when it came to the efficiency of its procedures. The Finance Minister Edward Scicluna said the government had pre-empted the work of the Commission and decided to bolster the…
DetailsThe number of bankruptcies in Ireland increased last year, according to the Insolvency Service of Ireland (ISI)s latest annual report. According to the report, there were 479 bankruptcies in 2015 up seven per cent from 448 in 2014. There was also a massive increase in the number of people who were returned to solvency thanks…
DetailsFormer Billabong boss Matthew Perrin has accused his ex-wife of fabricating a confession and making him sign it when he was “contemplating suicide”. The former CEO is on trial in Brisbane District Court for fraud and forgery after he allegedly faked signatures on bank documents in 2008. Play Video Don’t Play Market calls: what was…
DetailsThe news is the latest development in a long-running and increasingly ugly dispute over measures to ease Greeces massive debt burden and the strict fiscal targets the country needs to meet to receive it. Yesterday, the European Stability Mechanism, which finances Greeces third 86bn bailout deal, announced that it would be putting plans for debt…
DetailsWhile the Bank of Canada said Thursday the probability of an economic shock materializing remains low, it noted that such an event could have significant consequences. (AFP/GETTY IMAGES FILE PHOTO) By Andy BlatchfordThe Canadian Press Thu., Dec. 15, 2016 OTTAWAThe Bank of Canada is expecting new mortgage rules to help ease a continued rise in household…
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