Calcutta: Numetal’s partners may buy out Rewant Ruia’s stake in the consortium pitching for Essar Steel if the latter is found to be ineligible to bid for stressed assets under the provisions of the Insolvency and Bankruptcy Code (IBC). Rewant, the younger son of Essar Group founder and promoter Ravi Ruia, holds a 25 per…
Toys R Us is expected to enter administration tomorrow unless an eleventh-hour deal to rescue the ailing company is struck. See related Frantic attempts to secure a buyer before Tuesdays deadline for payment of a £15m VAT tax bill have so far failed, with a potential investor pulling out at the last minute, the Retail…
A sudden medical emergency doesnt just wreak chaos on a persons life. For many people, it takes a dangerous toll on their financial security. One in five U.S. residents have delinquent medical debt on their credit reports, according to the Consumer Financial Protection Bureau. In the Philadelphia region, more than 1.1 million people owe a…
Just as a bunch of high-value assets are about to exit India’s fledgling bankruptcy process, it appears founders won’t relinquish control of their steel, power and cement plants without exhausting every last legal trick in the book. A knot of clumsily crafted eligibility rules introduced by the government in November have become a thorn in the…
On the outside, Richard Brent was a thief and a user. He stole and used meth and heroin, acted tough and aggressive, all of which got him a 90-day sentence to Los Angeles Countys Mens Central Jail. But for Dr. Lauren Wolchok, his physician on the inside, Brent is neither criminal nor inmate. For her, he…
MUMBAI: A dedicated bankruptcy court finalising the insolvency of Bhushan Power and Steel has asked the resolution professional (RP) to submit his stand by March 2 on opening the Liberty House bid that came in after the deadline for the debt-laden company had ended. UK-based Liberty House is also keen to buy Bhushan Power and…
Things dont look good for CBL CORP FPO NZX (ASX: CBL), with the company placed in administration over the weekend. CBLs shares have been suspended since 6 February 2018, after entering a trading halt four days prior to that. I wrote on the 5 February that the company had shocked shareholders by announcing it would take a $100…
General Electric nominated top aviation and industrial executives and an accounting expert to its board on Monday, as it seeks to restructure its business and restore investors’ confidence in one of the largest U.S. industrial conglomerates. The Boston-based multinational, which racked up a $10 billion loss in the fourth quarter, was the worst-performing stock on…
Nevin John New Delhi Last Updated: February 26, 2018 | 22:20 IST Finding resolution in bankrupt companies through insolvency proceedings is becoming murkier after the estranged promoters and the rivaling bidders take the legal routes to put spanner in the process. When the UK-based Liberty House questioned the rejection of its bid for Bhushan Power and Steel, the…
LITTLE ROCK, Ark.–(BUSINESS WIRE)–Stephens Inc., an independent financial services firm, today announced that Dallas-based Blackhill Partners (Blackhill) has joined the firm to lead its new North American restructuring advisory business. We have experienced a strong appetite for restructuring expertise in our Stephens Europe Limited operation, and the addition of Blackhill better positions us to service…