Written by Aashish Aryan | New Delhi | Published: June 21, 2020 12:39:14 am State-run BHEL, which was also a secured creditor for Surana Power, had won an arbitration award against Surana Power. The National Company Law Appellate Tribunal (NCLAT) has ruled that liquidation process of a company under the Insolvency and Bankruptcy Code (IBC)…
(Bloomberg) — South Africas debt levels will exceed 100% of gross domestic product in 2025 and rise to almost 114% before the end of the decade, according to a document presented by Finance Minister Tito Mboweni and seen by Bloomberg. Mboweni made the presentation to the National Economic Development and Labour Council on Friday, according…
If you’re struggling with a lot of credit card debt, using a personal loan fordebt consolidationmay seem like a silver bullet. One of the most talked-about benefits of using a debt consolidation loan is that it simplifies your payments. Instead of making payments to a handful of credit card accounts with variable APRs, you can…
COVID-19 update While COVID-19 continues to spread in some areas of Africa, other countries look to open up. As of this writing, Africa has registered over 275,000 cases and over 7,00 deaths, though testing remains relatively low. Experts do not believe, however, that Africa is out of the woods yet: Earlier this week, the World…
The new UK legislation for companies in financial difficulty represents a fundamental shift in approach to restructuring in Europe and adds an important new tool to the UK restructuring framework. The availability of a plan proposed under the new Part 26A of the Companies Act 2006 (a Restructuring Plan) will undoubtedly change how many distressed…
Summary Cathay Pacific‘s bailout package was unavoidable in order to stave off more unpalatable alternatives Another important step will be a thorough business review and likely streamlining Cathays passenger demand was affected by protests, then took a larger hit from COVID-19 The government will monitor its new stake via observers, but vows hands-off approach Strategic…
Written by Aashish Aryan | New Delhi | Published: June 20, 2020 1:21:59 am Following the award, BHEL, which is also one of the secured creditors, refused to give its consent for liquidation as it would have resulted in it getting lesser share according to IBCs waterfall mechanism. The National Company Law Appellate Tribunal (NCLAT)…
Insolvency experts are expecting a flood of businesses to collapse when the Government’s stimulus packages end in September. Referred to by some economists as the “September cliff”, business owners who are struggling with cash flow are being urged to balance their books now while there is still time. Recent Australian Bureau of Statistics (ABS) figures…