Tax experts have warned that an incoming law which moves HM Revenue & Customs higher up the list of creditors in insolvencies could further damage the economy and cause more companies to go bust. From December 1, the UK tax authority will be ranked higher in the pecking order used to decide which creditors get…
KBank maintains a sound capital adequacy ratio at 17.3%.(Photo by Tanaphon Ongarttragoon) Local commercial banks are concentrating on debt restructuring and asset quality rather than business growth amid fragile economic conditions that could linger into next year. Pipatpong Poshyanonda, co-president of Kasikornbank (KBank), said the bank will continue paying attention to helping customers with debt…
The coronavirus pandemic continues to impact the professional services industry, as firms see decreased demand for strategy consulting and increased need for restructuring services. FTI Consulting is expecting the bankruptcy boon to continue, execs said in Thursday’s earnings call, and has hired 431 restructuring professionals in the past year in anticipation. Firm execs are also…
From an outside point of view, the life of a footballer is unsurprisingly one of luxury. Fast cars, huge mansions, more money than one can imagine, and all of this on top of their innate talent that has allowed them to perform on this elevated platform. But the glitz and glam of being a professional…
SINGAPORE – Help is at hand for small firms in financial distress due to Covid-19. One initiative will assist sole proprietors or partnerships restructure unsecured debt such as credit card bills or loans secured without collateral. Another scheme will help small- and medium-sized enterprises (SMEs) work out their credit facilities across multiple banks and finance…