PRESIDENT Emmerson Mnangagwa has embarked on a diplomatic initiative with Britain and other creditors as the country seeks debt rescheduling and cancellation to improve its risk profile and credit rating. By Bernard Mpofu/Melody Chikono This development could signal a shift in the countrys debt strategy. The government has in the past rejected any debt cancellation…
The Insolvency Resolution Professional (“IRP”) is an integral part of the Insolvency and Bankruptcy Code, 2016 (“IBC”); a laudable and long overdue Legislation. Even though similar concepts like liquidators, Operative Agencies and interim administrators have existed for long time under Indian Law, the establishment of the Corporate Insolvency Resolution process (“CIRP”) and the IRP’s is…
It is a company that dates back to Britains industrial revolution: an ironworks in south Wales that started in 1759 and supplied the tracks for Brunels Great Western Railway. It has become, as GKN, a global engineering giant supplying car and aerospace parts, employing 60,000 around the world and 6,000 in the UK. But now…
Nearly everyone who borrows money wants to repay it, but Joannes story demonstrates why it is so important that banks lend responsibly she was provided credit that she could not afford to pay back, leading to substantial harm. Lenders tend to market credit as a way to improve peoples financial situation (get on top of…
It’s been a somber few weeks for those who had fond childhood memories of Toys R Us. First came word the company was planning to liquidate its US operations. Then Thursday news came that the man who founded the company 70 years ago, Charles Lazarus, a World War II veteran, has died. Lazarus was 94.…
Saturday, 24 March 2018 11:00AM Email IconSean Smith McGrathNicol, which was put into Quintis by bondholders in late January, is seeking to either sell or recapitalise the company.Picture: Countryman Quintis receivers have reported good interest from potential buyers and investors after closing the first phase of their expressions of interest campaign for the failed sandalwood…