New Delhi: Draft rules for various aspects of the infrastructure and ecosystem required to manage insolvencies will be ready soon and shared in the public domain to seek comments, an official at the corporate affairs ministry said. The government set up four working groups to look at various aspects of this and they are expected…
DetailsThe total number of corporate insolvencies to the end of Quarter 3 2016 have totalled 765, according to the latest analysis from Deloitte. This represents a 3% increase on the same period in 2015 and is a reversal of the decreases seen in the first half of 2016. The total number of insolvencies…
DetailsBERLIN (AP) ” German lender Commerzbank says it expects to cut a net 7,300 full time jobs as part of a restructuring to concentrate on its core businesses. The bank said Thursday that some business activities would be discontinued which, combined with the digitalization and automation of some workflows, would amount to the loss of…
DetailsBERLIN (AP) German lender Commerzbank says it expects to cut a net 7,300 full time jobs as part of a restructuring to concentrate on its core businesses. The bank said Thursday that some business activities would be discontinued which, combined with the digitalization and automation of some workflows, would amount to the loss of 9,600…
DetailsThe owner of the Daily Mail is considering a string of asset sales and potential restructuring options, after more than axing 400 jobs to protect its profitability. Daily Mail & General Trust (DMGT), which is listed on the stock exchange but controlled by the Harmsworth dynasty led by Lord Rothermere, said it had almost completed the…
DetailsBy Maiya Keidan | LONDON/BENGALURU, Sept 29 Johnston Press shareholder Crystal Amber Fund Ltd can help management avoid a poor debt restructuring deal, the hedge fund’s chief executive officer told Reuters. “We have a good track record of assisting companies,” Richard Bernstein told Reuters on Tuesday, ahead of London-listed activist manager Crystal Amber disclosing it…
DetailsBy Maiya Keidan | LONDON/BENGALURU LONDON/BENGALURU Johnston Press (JPR.L) shareholder Crystal Amber Fund Ltd CRS.L can help management avoid a poor debt restructuring deal, the hedge fund’s chief executive officer told Reuters. “We have a good track record of assisting companies,” Richard Bernstein told Reuters on Tuesday, ahead of London-listed activist manager Crystal Amber disclosing…
DetailsNANNING — State-owned Guangxi Non-ferrous Metals Group Co in South China’s Guangxi Zhuang autonomous region has been declared bankrupt, despite a nine-month restructuring push. According to an announcement published by the intermediate people’s court of Nanning City on Sept 12, the company had neither submitted a restructuring plan within six months of the court’s initial…
DetailsThe consultation ran between May and July and looked at four broad areas. These were: introducing a moratorium for distressed businesses to benefit from protection against legal action while considering their options for rescue; widening the definition of essential supplies; developing a new restructuring plan would enable (for the first time in the UK) a…
DetailsComments (1) Lisa Thomas, insolvency practitioner at Neville & Co explains how an Individual Voluntary Arrangement (IVA) can help in getting on top of personal debts. You will probably have seen the adverts on daytime television showing happy, relaxed looking people being given a fresh start by writing off their debts. It sounds too good to…
Details