Norwegian Air is set to exit its restructuring process next week after raising the 6 billion Norwegian crowns (590 million) it targeted through the sale of perpetual bonds, new shares and a rights issue, the company said on Friday. Financed largely by debt, Norwegian Air grew rapidly, serving routes across Europe and flying to North…
TNNDelhi/Mumbai: Banks can look forward to improved recovery prospects from promoters of defaulting companies who have provided personal guarantees for corporate loans. The Supreme Court on Friday upheld the government notification of November 2019, which allowed banks to enforce the personal guarantee of the promoter if lenders are not able to fully recover their dues…
A Norwegian Air plane is refuelled at Oslo Gardermoen airport, Norway November 7, 2019.REUTERS/Lefteris Karagiannopoulos/File Photo Norwegian Air (NORR.OL) is set to exit its restructuring process next week after raising the 6 billion Norwegian crowns ($714 million) it targeted through the sale of perpetual bonds, new shares and a rights issue, the company said on…
The worst of the pandemic may be over, but many small businesses are headed for a reckoning. As relief efforts like the Paycheck Protection Program (PPP) wind down, and state and federal protections such aseviction moratoriums begin to lapse, companies that may have been limping along oron the edge could soon topple. Or as Bob…
DEBT is far from uncommon and many people borrow money via loans, credit cards and mortgages. But if debt’s getting on top of you, and you’re struggling to pay money back, you should always seek help – and there’s plenty out there. 1 There’s help from charities and the government to help you with debtCredit:…
By Reuters Staff 1 Min Read ROME, May 21 (Reuters) – Italys Prime Minister Mario Draghi on Friday recommended temporarily suspending debt service payments to help poor countries battling COVID-19, adding that Rome would offer an additional 300 million euros ($366 million) to distribute vaccines to them. Italy has given 86 million euros to COVAX…
The Supreme Court on Friday affirmed the Central governments November 15, 2019 notification which enabled financial institutions to proceed against the promoters in their capacity as personal guarantors of the defaulting corporate debtor. The court ruling will clear the decks for creditors to recover the remaining debt from personal guarantors after the conclusion of the…
Friday, 21 May 2021 By Richard Barham When the coronavirus pandemic hit in Spring 2020, and the remainder of the 2019/20 football season was put on hold, there were widespread predictions of multiple football club insolvencies. In fact, since then, there have been very few (only Wigan Athletic and Bury have entered administration in that…
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The Supreme Court on Friday upheld the constitutionality of the Centre’s November 15, 2019, notification that had allowed financial institutions to pursue proceedings against personal guarantors, commonly promoters, of stressed companies facing insolvency. The apex court’s order will clear the decks for lenders to recover their remaining debt from personal guarantors following the conclusion of…