MUMBAI: In a sign of support to Anil Ambani owned Reliance Communications (Rcom), lenders to the telecom operator have opposed China Development Banks insolvency filing to recover its $1.78 billion. At a committee of creditors meeting on 29 November 2017, a majority of Reliance Communications lenders, foreign and Indian, aggregating 31, decided to oppose China…
Image copyright Getty Images South Korea is to write-off the debts of as many as 1.6 million people in a move designed to ease the financial burden on low-income individuals. The scheme is open to certain Koreans who have struggled to repay debts of less than 10m won ($9,128; £6,826). Eligible people can apply to…
Shares of Reliance Naval and Engineering lost over 5 percent intraday on Thursday as investors turned cautious on the stock on insolvency proceeding. According to a report by CNBC-TV18, quoting Cogencis, IFCI has filed an insolvency case against the company in a bid to recover loans. The fall in share price also spilled over to…
The well-known Australian handbag and accessories retailer Oroton has gone into voluntary administration. Key points: Oroton says no jobs in jeopardy at this stage Company reported a loss of $14.2m for the 2016-17 financial year Pumpkin Patch, Marcs, David Lawrence, Herringbone also went under in the past 18 months In a statement to the…
MUMBAI: In what could set a judicial precedent against errant borrowers trying to game the system, the National Company Law Tribunal (NCLT) in a recent order has held that transfer of debt by a related party to a non-related party cannot lead to dilution of voting rights of the financial creditors while the insolvency resolution…
Bankrupt wedding venue to go under the hammer in December GREEN VIEW: The Tangled Maze will go on sale at auction on December 15, after it went into liquidation in September, forcing booked weddings to be cancelled. POLISHED: Inside the Tangled Maze, which can host up to 200 guests for events and weddings, with smaller…
Iconic handbag retailer OrotonGroup has gone into administration, becoming the latest casualty in Australia’s retail bloodbath. The company said on Thursday morning that an eight-month strategic review failed to find a viable option to secure its future. Its 59 Oroton stores will continue to trade as usual while administrators Deloitte Restructuring Services pursue a sale…
EMERYVILLE, Calif., Nov. 29, 2017 /PRNewswire/ — Recent reports agree that when it comes to student loan debt, where students live in the U.S. is just as important as their chosen major and college. States in the northeastern and midwestern regions of the U.S. have much higher student loan debt averages than the southern and southwestern…
November 30, 2017 Simon Mundy in Mumbai Experimental feature Listen to this article Play audio for this article Pause 00:00 00:00 Experimental feature Give us your feedback Thank you for your feedback. What do you think? Ill use it in the future I dont think Ill use it … Read the full article at: https://www.ft.com/content/f53914de-d4ed-11e7-a303-9060cb1e5f44
Australia’s 79-year-old luxury handbag retailer Oroton has collapsed into voluntary administration after failing to find a buyer. The company says it was unable to find a viable option for recapitalising or selling the business following a seven-month strategic review. Interim chief executive Ross Lane said there was no other solution that could achieve a better…