Country’s largest steel maker Tata Steel’s plan to restructure its UK businesses is credit positive as it will reduce some of the negative pressure on its operating performance, Moody’s Investors Service said in its report today. However, pending finalisation of the restructuring plan and the uncertainty around the extent of improvement in the…
DetailsDemand for examinership as a corporate recovery mechanism appears to be falling, according to the latest index from the insolvency experts Hughes Blake. In the first three months of the year, 138 jobs were saved through the examinership process, a fall of nearly two thirds on the same quarter last year. The figures reflect increased…
DetailsBy Dan Fitts. Key Points: Companies that have leasing as a small and irregular part of their overall business still must comply with the PPSA if their interests in leased goods are to be protected. Ad hoc leasing arrangements might not be a core part of your business, but they could still mean you’re regularly…
DetailsEvery month, Amanda Danner and her husband make what feels like a mortgage payment. But they dont yet own a home. Instead, they pay nearly $2,000 simply to service their student debt. Their next-largest monthly expense is the rent on their apartment in Union City, N.J. Its a rough reality, said Danner, a 26-year-old analyst…
DetailsInsolvency is a word that conjures up a range of emotions most of them negative. Insolvency practitioners are placed in a position of trust. Their job is to realise assets and pursue recoveries on behalf of an insolvent companys creditors. The proper conduct of an insolvency process requires a broad range of commercial, financial and…
DetailsCLARKSBURG The Harrison County Commission voted Thursday to deplete the escrow fund to help pay Genesis Partners assessments and fees, stipulating that the remaining costs must be paid by the company by Friday. A total of nearly $1 million is owed by Friday on the Charles Pointe South Land Bay Improvements 2008 Bonds Community Enhancement…
DetailsIntroduction Wrongful trading the law Knowledge Solvency Ralls Builders Decision Reasoning Contribution and loss Comment Introduction Generally, directors are focused on making a success of the business to which they are appointed and the prospect of insolvency and the potential for personal liability often seems remote. Indeed, many directors will never have to face the…
DetailsManaging student loans on top of other monthly expenses can be crippling. The Housing and Credit Counseling office in Topeka has seen a marked increase in debtors with student loan problems, counselor Renee Earwood said. Thats not surprising given that nearly $1.3 trillion is owed to student loans in the United States. But the problems…
DetailsCHICAGO–(BUSINESS WIRE)–How the equity portion of a recovery distribution will be accounted for is becoming more important to bondholders as additional defaults are expected this year, Fitch Ratings says. Equity receives no credit in the calculation of a CLO’s aggregate principal balance, or overcollateralization (OC) ratios, until the manager monetizes the equity position. Equity may…
DetailsPublic defenders in New Orleans stopped taking complex felony cases in January due to depleted resourcesthe result of Louisianas poor funding formula for services to aid those who cant afford lawyers. Louisiana is bound by both its state constitution and the U.S. constitution to provide these services no matter what. That obligation has been compromised,…
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