Video PlayerClose A UN General Assembly high-level meeting on middle-income countries is held at the UN headquarters in New York, on June 17, 2021. Guterres on Thursday called for debt relief extension for middle-income countries. (Eskinder Debebe/UN Photo/Handout via Xinhua) UNITED NATIONS, June 17 (Xinhua) — United Nations Secretary-General Antonio Guterres on Thursday called for…
On Tuesday, the National Company Law Tribunal (NCLT) questioned the extensive haircut that lenders have agreed to take in the insolvency resolution of Videocon group companies. Billionaire Anil Agarwals Twin Star Technologies has proposed to pay 2,962 crore against admitted claims of 64,838 crore, implying a 95.85% loss to all Videocon creditors. The tribunal noted…
A lifeline for struggling businesses in the United Kingdom the most significant insolvency reforms for a generationCorporate Insolvency and Governance Act 2020The Corporate Insolvency and Governance Act 2020 (the Act) entered into force on 26 June 2020. The Act represents the most significant reforms to the insolvency framework in the United Kingdom since, at least,…
Reuters reports that a USDA spokesperson said the agency will be ready to process payments on an estimated $4 billion in debt relief for 17,000 Black, Indigenous, Hispanic and Asian farmers once legal battles are resolved. It planned to start the payments in June. “USDA will continue to forcefully defend its ability to carry out…
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North Carolina-based HomeTrust Bank has announced plans to close nine branches as part of a wider business restructuring plan. The bank will also repay loans and bring its small business loan function in-house. HomeTrust said in an announcement this week that the closures would affect locations in North Carolina, Tennessee, and Virgina, totalling 22% of…
York-based family owned business, Riccall Carers Ltd, has ceased trading after more than 20 years of providing home care for vulnerable and elderly people throughout York and Selby. The business was established in 1998 and provided personal care home visits to around 180 private and local authority-funded clients in the region. It held contracts with…
(BLOOMBERG) – Troubled flag carrier Garuda Indonesia faces a key deadline on Thursday with a payment on its Islamic debt that will reflect its ability to deal with a financing crunch. The South-east Asian airline has been trying to avoid bankruptcy as it struggles with the decimation of the global travel industry due to the…
Steve Sprovach and Amy Wagner Published 9:44 p.m. ET June 16, 2021 CLOSE Amy Wagner and Steve Sprovach, Allworth Advice (Photo: Provided) Question: H.G. in Butler County: Can you help? I have about $20,000 in credit card debt and not much in savings. Should I focus more on paying down the debt or building my…
1. Data Sources Company Insolvency data for England & Wales, Scotland and Northern Ireland are sourced from Companies House, except for compulsory liquidation data for England & Wales and Northern Ireland. Compulsory liquidation data for England & Wales are sourced from the Insolvency Service case information system (ISCIS). Compulsory liquidation data for Northern Ireland are…