While high household debt remains a risk to economic stability, consumer spending is also a source of stability, according to a major bank economist. The Commonwealth Bank of Australias chief economist, Michael Blythe, has said that while high levels of household debt, especially at a time of subdued income growth, is a risk to economic…
Kellogg Company is making two major changes to its North American business as part of a recently announced growth strategy. The Battle Creek-based food maker announced two changes yesterday as part of its Deploy for Growth plan that are designed to ensure it has the right operating model and portfolio to deliver profitable growth in…
Stock image Vulture funds are engaging with borrowers in arrears, Government report finds Independent.ie A report for the Government has found that vulture funds are engaging with borrowers in arrears. https://www.independent.ie/business/personal-finance/property-mortgages/vulture-funds-are-engaging-with-borrowers-in-arrears-government-report-finds-37524790.html https://www.independent.ie/breaking-news/irish-news/article35550895.ece/30632/AUTOCROP/h342/PANews_P-1001d3de-e6d9-4213-96c9-67a76f4bbc62_I1.jpg Email A report for the Government has found that vulture funds are engaging with borrowers in arrears. Its publication prompted Finance Minister Paschal…
By Tendai Kamhungira State-owned enterprises and parastatals continue to incur shocking financial losses, with high chances of ceasing operations, Auditor-General Mildred Chiri has warned. ZESA Megawatt HQ in Harare State-owned enterprises and parastatals are losing millions of dollars, according to Chiris latest 2017 report, with fears that some might be declared insolvent due to the…
Executive Summary A small percentage of U.S. companies including PwC, Fidelity, and Aetna have stepped up to help their employees cope with the education loans weighing them down by offering them cash to help them reduce their debts. One downside of their approach is simply giving their workers cash raises their income taxes, diminishing the…
M/s. SKE Projects Private Limited, one of the Financial Creditor had filed an application with Honble National Company Law Tribunal (NCLT), Ahmedabad for initiation of Corporate lnsolvency Resolution Process (CIRP) against Jaihind Projects Limited u/s 9 of the lnsolvency and Bankruptcy Code (IBC). The Honble NCLT after hearing the application vide its Order dated 02-11-2018…
Romanian state-own fertilizers producer Oltchim posted a net profit of RON 84 million (EUR 18 million) for the first nine months of this year, a record level since the opening of insolvency procedure, on higher turnover, according to financial data released on Tuesday. In January-September 2017, the company registered a net profit of RON 39.9…
The Fourteenth meeting of the Committee of Creditors of the Corporate Debtor was held on 25 October 2018 at 1:00 PM at Orion Room, The Learning Galaxy, 8th Floor, Iconic Wing, Urmi Estate, 95, Lower Parel (West), Mumbai 400013, India. The outcome of the meeting is attached herein. Pdf Link: Ramsarup Industries Ltd. – Corporate…
With real threats of such enterprises going under, there is renewed desire that they be shielded against possible liquidation or being declared insolvent. Gideon Badagawa, the Executive Director at the Private Sector Foundation maintains that economic recovery remains hinged on job security and market access. Read the full article at: http://www.ntv.co.ug/news/national/Low-demand–high-cost-of-production-blamed-for-insolvency/4522324-4849690-lblaqo/index.html
CBL Insurance will be wound up after the High Court in Auckland approved an application by the Reserve Bank of New Zealand to liquidate the business. The business has been in court-imposed interim liquidation and its parent company CBL Corporation in voluntary administration since February. The courts decision looks set to hasten the demise of…