The states new mortgage arrears resolution service has helped fewer than 160 borrowers at risk of losing their homes to challenge their lenders through the appeal courts. The Abhaile service, launched last October, helps borrowers challenge mortgage providers when they veto proposals for a personal insolvency arrangement. According to a briefing for Charlie Flanagan after…
Newcastle businessman Lemuel Page. FOR years Newcastle man Lemuel Page spun a web of deceit involving failed investments that left him owing friends and former associates $17 million. But in the end it was a cheap cubic zirconia ring that landed the property developer turned fraudster in jail. The 48-year-old Mercedes-driving businessman’s past includes a shareholder arrangement with ex-bikie…
(Adds details related to agreement, advisor quotes) By Guillermo Parra-Bernal BOGOTA, July 22 (Reuters) – TPI Triunfo Participações & Investimentos SA and a pool of about 20 banks have agreed on terms to restructure 2.113 billion real ($672.6 million) of debt, giving the Brazilian infrastructure firm a lifeline to finalize projects and downsize gradually. The…
TPI Triunfo Participações & Investimentos SA and a pool of about 20 banks have agreed on terms to restructure 2.113 billion real ($672.6 million) of debt, giving the Brazilian infrastructure firm a lifeline to finalize projects and downsize gradually. The process will take place as an out-of-court workout, in which companies seek a limit on…
The Kolkata bench of the National Company Law Tribunal (NCLT) on Friday issued an interim order admitting State Bank of India’s (SBI) insolvency application against the city based Electrosteel Steels Limited for initiating the corporate insolvency resolution process. “The petition filed by the Financial Creditor (in the case SBI) under section 7 of the Insolvency…
Nathan Tinkler was able to get to Hawaii for his sons birthday. BANKRUPT former mining magnate Nathan Tinklers trip to New York for a job interview in February has backfired. The Saturday Telegraph can reveal the one-time billionaire remains unemployed and residing in Australia after an unsuccessful job application with a mining consultancy in Manhattan.…
OUT of options, an iconic Gladstone club has asked its members to contribute to a trust fund in a bid to keep it from becoming insolvent. At 10am today, about 100 people gathered at the Gladstone RSL Bowls and Citizens Club to come up with a solution to the club’s struggling financial situation. Club secretary…
Beena Parmar Moneycontrol News Debt in the balance sheets of most public sector banks may not get drastically reduced as bankers expect less than 50 percent recovery of the loans under insolvency. A month after the insolvency and bankruptcy process kick-started, three companies — Jyoti Structures, Monnet Ispat and Energy and Alok Industries — have been…