In 2017, the Monetary Authority of Singapore introduced a new financial instrument called debt consolidation plan (DCP) to help consumers rein in their bloating debt problem. Essentially, this was meant to help individual borrowers combine their high interest loans into one that could be gradually managed down over 1 to 10 years. But, it also…
Thursday 08 March 2018 Article by Ben Tosi Aussies cant quite tame the urge to splurge according to recent data from peer to peer lender RateSetter which revealed that 28% of balance transfer credit card holders are nearing the end of their promotional period but havent managed to crush their debt. A popular piece of…
The chances of stressed power generation units landing in the insolvency court have increased after the Reserve Bank of India revised last month its framework for the resolution of non-performing assets. A more worrying aspect, according to sector analysts, is that these assets totalling more than 80,000 megawatts across operational and under-construction projects may…
Betsy DeVoss Education Department has mistakenly kicked student loan borrowers out of forbearance. (Ted S. Warren/AP) Chad Godfroy has saved every email from the U.S. Department of Education since submitting an application in 2015 to have his federal student loans cancelled. Despite the continued wait, Godfroy, 38, took comfort in knowing his payments would be postponed as long…
By Arif Sharif March 7, 2018, 3:01 PM EST Access to a debt market teeming with yield-hungry investors is helping some cash-strapped nations in the Gulf Cooperation Council kick reforms down the road. Taking advantage of attractive interest rates, Oman raised $6.5 billion in January, its biggest sale on record, to help bridge deficits. And…
Tata Steel Ltd. today said that it has been identified as the highest evaluated compliant resolution applicant for Bhushan Steel Ltd, under the insolvency and bankruptcy process. The steelmaker is currently in discussions with the resolution professional and advisors to the Committee of Creditors on the resolution plan it had submitted, it said in an…
DALLAS–(BUSINESS WIRE)–Omega Healthcare Investors, Inc. (NYSE:OHI) (the Company or Omega) today announced that its tenant, 4 West Holdings, Inc. (Orianna) and certain of its affiliates (the Debtors), commenced voluntary Chapter 11 proceedings in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division. The action is styled In re 4 West Holdings,…
Binani Cement is currently undergoing a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 (IBC). Photo: Bloomberg New Delhi: The Competition Commission of India (CCI) on Wednesday unconditionally approved the proposed acquisition of Binani Cement Ltd by Rajputana Properties, subsidiary of Dalmia Bharat Cement Ltd. Binani Cement is currently undergoing a corporate…
STAMFORD, Conn., March 7, 2018 /PRNewswire/ — Cenveo, Inc. (OTCPK: CVOVQ) (the “Company”), a diversified manufacturer of print-related products including envelopes, custom labels, commercial print, and publisher solutions, today announced that the U.S. Bankruptcy Court for the Southern District of New York, White Plains has given final approval of the Company’s $290 million debtor-in-possession (“DIP”)…
Liberty House, part of Sanjeev Gupta’s global industrial group GFG Alliance, has been chosen as highest preferred bidder for Amtek Auto’s assets, which include 35 automotive component plants across India, Japan, Thailand and Spain, employing 6,000 people. The announcement of Liberty House as the successful preferred bidder was made in the committee of creditors…