If there is one word to describe Jet Airways it is this: beleaguered. The former Indian aviation giant is staring down the barrel of yet another major blow that could prevent them from returning to the skies. After collapsing in April, Jet Airways now could be headed towards bankruptcy as creditors seek to recover their…
Chennai: Integrated sugar maker Thiru Aarooran Sugars (TA Sugars) has knocked the doors of the National Company Law Tribunal (NCLT) to kick-start the process of corporate insolvency resolution plan after SBI moved the tribunal upon default of loans.The petition for resolution under the Bankruptcy Code was filed by SBI claiming dues of Rs 149.36 crore.…
Richair By Alexander Whiteman 11/06/2019 Leisure Cargo (LC) is to enter insolvency following the loss of contracts with TUI and another carrier. Aspokesperson for the GSSA confirmed to The Loadstarit had begun insolvency proceedings at a court in Dusseldorf, with White & Case appointed trustees. Reorganisation manager Tillmann Peeters, of Falkensteg Restrukturierung, said: We want…
Loading A loan taken out 2-3 years ago was based upon different metrics and lender requirements, he says. Following changes in requirements, many people can no longer refinance or increase their borrowing capacity even though their financial position might not have changed. For many, this means they cannot switch to another lender at a reduced…
In their April 29 report to creditors, Mr Hosking and Mr Hathway said they were also investigating a number of potentially voidable transactions including payments totalling $9.28 million made to Merhis Finance (a wholly owned subsidiary of Merhis Corp, which is wholly owned by Mark Merhi) and $18.46 million transferred to related companies in the…
Mike Ashleys Sports Direct has fired off a legal challenge against Debenhams rescue restructure, which was approved by creditors last month. The legal challenge is the latest blow by Ashley in his battle with the department store, which was taken over by a syndicate of banks and hedge funds it owed money. The deal thwarted…
Steve Nicastro, Nerdwallet Published 8:00 a.m. ET June 11, 2019 CLOSE If debt is affecting your finances, you may have a share of the $4 trillion in non-housing debt tallied in the first quarter of 2019 by the Federal Reserve Bank of New York. Of all household debt, $623 billion is late or overdue, the…
Find out whether you can negotiate with your credit card company to lower your debt, but keep in mind the repercussionsit can have.
Commodity trader Trafigura has joined rivals Gunvor and Vitol in reporting a large rebound in profitability helped by oil market volatility, with the companys results boosted further by a restructuring programme. Profits at the privately owned group had fallen to an eight-year low in 2018 as it was caught on the hop by a shift…
LUSAKA (Reuters) Vedanta Resources on Tuesday plans to challenge the appointment of a provisional liquidator and the intended winding up of its Zambian business without the chance to be heard through lawyers of its choice, documents filed in court show. According to a notice filed in court on June 6, Vedanta wants to be represented…