Topline The International Monetary Fund announced Monday it would not ask 28 of the worlds poorest countries to make debt payments through October, extending its relief period as Treasury Secretary Janet Yellen said she’s worried 150 million people could be pushed into extreme poverty because of the Covid-19 pandemic. Treasury Secretary Janet Yellen listens during…
Seeking to provide a quicker and value-maximising outcome for stressed MSMEs, the government has introduced a pre-packaged resolution process for such enterprises by amending the insolvency law. Now, Micro, Small and Medium Enterprises (MSMEs) can seek resolution for their stress through the pre-packaged process under the Insolvency and Bankruptcy Code (IBC). An ordinance was promulgated…
Washington, DC: The Executive Board of the International Monetary Fund (IMF) approved on April 1, 2021 a third tranche of grants for debt service relief for 28 member countries under the Catastrophe Containment and Relief Trust (CCRT). This approval follows two prior tranches approved on April 13, 2020 and October 2, 2020, respectively (see Press…
The Centre has taken the Ordinance route to introduce pre-packaged insolvency resolution process (pre-pack) for companies classified as micro, small and medium enterprises (MSMEs). India has 6-7 lakh companies that are classified as MSMEs, which could potentially benefit from the newly-introduced pre-packaged insolvency framework. A pre-packaged insolvency in the Indian framework context is an arrangement…
HR restructuring in China can be a tripwire for foreign companies given the countrys strict labor laws and regulatory standards. We spotlight top considerations. The success of a company often hinges on its ability to recruit, retain, and realize the added value and potential of its employees. Similarly, in the case of business restructuring how…
For company restructuring in China, businesses must strategize based on which options will bolster their operational sustainability and facilitate company preparedness and agility, factors that are essential during periods of crises like the pandemic. Businesses looking to benefit from Chinas economic rebound may consider how their corporate strategy could be optimized through restructuring their operations,…
The Centre has used the Ordinance route to introduce pre-packaged insolvency resolution process (pre-pack) for companies classified as micro, small and medium enterprises (MSMEs). India currently has about 6-7 lakh companies classified as MSMEs, and potentially these many could benefit from the newly introduced pre-packaged insolvency framework. In the Indian framework context, a pre-packaged insolvency…