Data from Key Retirement, which specialises in finance for the over-55s, found 14% of people aged 65 plus were relying on credit cards to boost their income. Meanwhile, 26% of over-70s were juggling three or more credit cards, and one in ten had a balance they had not cleared for more than a year. The…
The other key arguments Dalmia has made in the affidavit are… – UltraTech’s second resolution plan was submitted after the final submission date set out by the resolution professional. By then Dalmia had already been selected as the winning bidder. – Two plans cannot be submitted by an applicant as per clauses laid down in…
Peter ODwyer, Senior Ireland Business Reporter The business restructuring unit operated across the RBS Group including through Ulster Bank in the Republic and Northern IrelandAIDAN CRAWLEY/BLOOMBERG/GETTY IMAGES The Central Bank has been in contact with the UKs Financial Conduct Authority in relation to Ulster Banks controversial business restructuring unit. Paschal Donohoe, the finance minister, has confirmed the contact…
SEBI plans to bring in additional disclosure requirements for listed corporates undergoing insolvency resolution process as well as amend norms pertaining to minimum public shareholding norms and other provisions for such entities, a senior official said. The proposal comes at a time when there are increasing number of cases coming up under the Insolvency and…
New Delhi: Sebi plans to bring in additional disclosure requirements for listed corporates undergoing insolvency resolution process as well as amend norms pertaining to minimum public shareholding norms and other provisions for such entities, a senior official said. The proposal comes at a time when there are increasing number of cases coming up under the…
A district court in the southwestern Latvian city of Liepaja today removed Guntars Koris as insolvency administrator of KVV Liepaja Metalurgs steel company, the courts representative Velga Luka told LETA. The verdict cannot be appealed and has already come into effect. The Liepaja court will send its ruling on Koris removal to the Insolvency Administration …
The scale of problem debt is at “epidemic levels”, the Archbishop of Canterbury has said. The Most Rev Justin Welby made the comments in the foreword of a report compiled by debt help charity Christians Against Poverty (CAP). The report said, on average, CAP clients’ outstanding debt equates to 96% of annual household income when…
Lenders to Essar Steel Ltd. today decided to reject both resolution plans submitted for the company under the insolvency and bankruptcy process, two bankers in the know have confirmed. In a meeting held in Mumbai, the committee of creditors was presented with the findings of Resolution Professional Satish Kumar Gupta on the eligibility of the…
By Valentina Za and Simon Jessop A tale of two hotels: Italy’s bad loan sales hang in the balance MILAN/LONDON (Reuters) – The Hotel Dei Dogi, a lagoon-side palazzo in Venice, will be renovated in the autumn for the first time in 20 years after a U.S. investment firm snapped up the debts of its…
While dismissing two applications filed against a resolution professional for wrongful conduct, Judicial Member Jinan K.R of the Kolkata Bench of NCLT has also reflected his views on the exaggerated insolvency resolution cost of a dying corporate debtor. On an application filed by Punjab National Bank, Divyajyoti Sponge Iron Ltd. was placed under the corporate insolvency…