by Lamiat Sabin YOUNG adults renting their homes and working in insecure jobs are most likely to struggle with debt, a charity said yesterday as it reported receiving a record number of cries for help. A total of 313,679 people with unmanageable money problems sought advice from StepChange Debt Charity between January and June, which…
by Lamiat Sabin YOUNG adults renting their homes and working in insecure jobs are most likely to struggle with debt, a charity said yesterday as it reported receiving a record number of cries for help. A total of 313,679 people with unmanageable money problems sought advice from StepChange Debt Charity between January and June, which…
Total buybacks and dividends in the S&P 500 equal about 128 per cent of annual earnings this year, the most on record outside the financial crisis, according to an August report by Barclays Capital. Dennis Brack by Oliver Renick Little by little, the corporate cushion is shrinking. Pressured by a year-and-a-half of weakening profits and…
HCC currently has over Rs 3,200 crore tied up in arbitration, and with the new norm, the company can get about Rs 2,400 crore (75 percent of Rs 3,200 crore) freed immediately. The company is also confident that within the next 12 months, additional claims worth Rs 5,000 crore would be settled. Reliance Infrastructure ltd.,…
Lenders to Essar Steel will be meeting on Wednesday to discuss restructuring of company’s long-term debt of Rs 40,000 crore. The meeting will discuss various options including conversion of portion of loan into instruments carrying specific interest rates. The proposal coming up for discussion has been on the table for the…
The UAEs new federal insolvency law is expected to be receive final approvals “within weeks”, coming into effect from early 2017, according to Obaid Humaid Al Tayer, the Minister of State for Financial Affairs. The new law, approved by the UAE cabinet on Sunday, creates mechanisms for insolvent companies to avoid bankruptcy and liquidation, modelled…
A MAN last year found to have defamed Gwent AM Mohammad Asghar has been declared bankrupt. Mohammad Hayat was ordered to pay £45,000 to the South Wales East assembly member after he circulated a dossier containing false claims against him. Mr Hayat was also ordered to pay the same amount to Mr Asghar’s co-claimant Abdul…
Obaid Humaid Al Tayer, the Minister of State for Financial Affairs, said on Tuesday that the government is working on a new personal insolvency law that would apply to individuals. His comments follow the news that the UAEs new bankruptcy law, which protects companies that cannot pay their debts from criminal prosecution, has been approved…
A group of aggrieved shareholders in Merlin Diamonds planning a board spill say they will report the company to the corporate watchdog after their fellow investors voted to increase the shareholdings of the family of recent bankrupt “Diamond” Joe Gutnick. On Tuesday, the majority of Merlin shareholders voted to approve parts of a $2.3 million recapitalisation proposal…
The Supreme Court today came down hard on real estate developer Supertech saying that it must return the money to 17 flat buyers of its Emerald Court project in Noida even if the company is declared bankrupt, or dead. We dont care. It has to refund its buyers, the court observed. In its order, the…