Two men were remanded to police custody on Monday for the murder of a former local politician from Mohan nagar area of Pimpri-Chinchwad after fallout of a gambling debt on March 9, according to Krishna Prakash, commissioner of Pimpri-Chinchwad police. The deceased man was identified as Vijay Surve (40), a resident of Mohan nagar area…
The chief executive of Capita will on Wednesday unveil a fresh restructuring of the embattled outsourcer alongside a plan to raise 400m from a string of disposals. Sky News has learnt that the company, which is responsible for collecting the television licence fee and recruiting Army personnel, will announce alongside annual results that it will…
A small business financial counsellor is urging small and family businesses in Mackay to seek help urgently if they deferred debt during the pandemic. Financial management expert Kristy Wilson encouraged businesses owners to be on the front foot so they can survive the next 12 months. The Rural Financial Counselling Service North Queensland is funded…
In war, as the saying goes, truth is often the first casualty. During the pandemic and its economic shocks, however, truth has become a blessing for some. Take the African country of Chad. When its debt levels grew too onerous late last year, it was forthcoming with creditors about its finances. By February, the International…
Tuesday, March 16, 2021 This article summarises the findings of the High Court inRe gategroup Guarantee Limited [2021] EWHC 304 (Ch) (Re gategroup Guarantee Limited)and provides a view of its effects on the cross-border application of the Restructuring Plan (defined below) and the use of co-obligor structures in restructurings. IN DEPTH The Restructuring Plan The…
A German court on Tuesday declared that a small bank tied to a collapsed U.K. finance company was insolvent, triggering losses for dozens of small German towns. Greensill Bank AG was deemed insolvent by a local court, leaving the towns as creditors that will likely sustain losses. Around Germany, at least 12 towns with a…
Dublin-headquartered gambling software company Banach Technology has been acquired in a $43 million (36 million) deal by an Irish subsidiary of Australian online bookmaker PointsBet. Banach is a sportsbook solutions provider that has developed a proprietary risk-management platform and quantitative-driven trading models for operators. It was founded by Mark Hughes, Alex Zevenbergen, Rob Reck and…
The automotive industry, globally, faced significant challenges before the onset of the coronavirus (COVID-19) crisis. On the eve of the pandemic, original equipment manufacturers (OEMs) were preparing for major change and the attendant disruption, as the transition to electric vehicles began to gain pace. Online searches in the UK doubled overnight, for example, when the…
The successive defaults of large companies such as Boashang Bank, Yongmei Group, Huachen Automotive and Tsinghua Unigroup recently sent shockwaves across the market. Restructuring lawyers discuss the defaults, how they feel the Chinese government will ensure orderly bankrupt At the start of 2020, bankruptcy and restructuring experts had predicted more bond defaults in China. A…
BALTIMORE (WJZ) Maryland Attorney General Brian E. Frosh has filed charges against a California-based tax debt relief company in connection to their offer and sale of tax debt relief services to Marylanders. The Consumer Protection Division alleges National Tax Experts, Inc. mailed advertisements to Maryland consumers that looked to be from a Maryland court or…