File photo taken on Nov 19, 2020 shows the media center of the Group of 20 (G20) in Riyadh, Saudi Arabia. [Photo/Xinhua] Some developing countries still struggling to combat the COVID-19 pandemic have been granted more time to stave off the economic effects after the G20 group of the world’s largest economies extended its offer…
Save the Children welcomes the G20s efforts to respond to the economic crisis caused by the COVID-19 pandemic, including vital support for the worlds poorest countries. However, with 35 low-and-middle-income countries continuing to spend more on debt payments than on healthcare for their people, the organisation remains extremely concerned about the lack of debt relief…
Beyond Debt Thousands of Sole Traders will have no choice but to file for Bankruptcy, according to Beyond Debts Ben Paris. The government thresholds for Debt Agreements, an alternative to Bankruptcy, are too low at $118,063.40 and the three years term too short to assist many. There are 912,411 Sole Traders, the most common business…
Owners of micro, small and medium enterprises (MSMEs) going into bankruptcy proceedings under a simplified regime rolled out this week could lose their business in certain cases if they do not match a better offer from a potential investor. The Insolvency and Bankruptcy Board of India (IBBI) is currently framing regulations under the new bankruptcy…
The UK government has extended its suspension of various rules and procedures affecting distressed businesses as a result of the coronavirus (COVID-19) pandemic. However, with the UK lockdown easing on a rolling basis up to 21 June 2021, these may be the last of the blanket extensions across all of these areas. Expect the gradual…
Virgin Australia has made two senior IT appointments as it continue to restructure after exiting from voluntary administration last year. iTnews can reveal that the airline has appointed Mark Allen to the role of head of data platforms and Emma Taylor to the role of head of strategy and architecture. As head of data platforms,…
By Reuters Staff 2 Min Read (Corrects to show D-reizen Dutch-owned since December 2020, paragraph three) AMSTERDAM, April 6 (Reuters) – D-RT Group, the parent of Dutch tour operator D-reizen, has been declared bankrupt, a court spokesman said on Tuesday, potentially affecting more than 1,000 employees. The Netherlands has largely avoided corporate bankruptcies during the…
Kristalina Georgieva said the IMF was considering proposals to ensure climate vulnerable middle-income nations receive support to build back better from Covid-19 The head of the International Monetary Fund has urged rich nations to reconsider the criteria for developing countries to access international finance, saying vulnerability to climate shocks should be taken into account. At…
By Reuters Staff 2 Min Read (Corrects to show D-reizen Dutch-owned since December 2020, paragraph three) AMSTERDAM, April 6 (Reuters) – D-RT Group, the parent of Dutch tour operator D-reizen, has been declared bankrupt, a court spokesman said on Tuesday, potentially affecting more than 1,000 employees. The Netherlands has largely avoided corporate bankruptcies during the…
A Gurugram-based creditor had initiated insolvency proceedings and The National Company Law Tribunal had admitted the petition against OYOs subsidiary Oyo Hotels and Homes Pvt Ltd on April 7. The National Company Law Appellate Tribunal (NCLAT) today stayed the proceedings against OYOs subsidiary. As initially it was misreported by a few media platforms as OYO…