WASHINGTONMost Republican senators have signed on to a pledge to force Democrats to raise the debt ceiling through procedures that dont rely on GOP votes, escalating the political tug of war over who is responsible for keeping the U.S. from defaulting. Sen. Ron Johnson (R., Wis.) said in an interview that some 46 Republicans have…
Cloudera Inc.s roughly $5.3 billion deal to go private and join the booming private-equity world just got a boost from the debt market. The Silicon Valley company completed a $2.14 billion loan financing on Tuesday, as part of a bid by private-equity firms KKR & Co. and Clayton Dubilier & Rice LLC to take the…
The dedicated bankruptcy court dismissed the plea for the withdrawal of the Corporate Insolvency Resolution Process (CIRP) against the IT firm Rolta India on Tuesday, observing that the court could not ignore the substantial claims of Financial Creditors because of the purported settlement of employees of the company. One of Rolta Indias employees had filed…
Mumbai: The Mumbai bench of the National Company Law Tribunal (NCLT) dismissed last week an application seeking closure of Rolta Indias corporate insolvency resolution process (CIRP) under the Insolvency & Bankruptcy Code (IBC).A consortium of lenders to Rolta, represented by advocates Rohit Gupta and Nausher Kohli, had opposed a plea for closure of the process,…
By November 1st the UK governments furlough scheme will end, spelling fresh challenges and opportunities for the banking sector, writes Daniel Lanyon. The UK could see a wave of consumers and SMEs entering into financial difficulties in Q4 2020 following the end of the governments furlough scheme. What does it mean for banking investors? While…
According to the statement of claim, when Mr Hasna admitted to his VIP host that he was experiencing financial difficulties after the $100,000 cheque bounced, he was instead encouraged to gamble on credit to Crown. The encouragement came despite Mr Hasna previously banning himself from the casino in 2008 and 2012, and Crown security and…
Luka Doncicjust signed the most lucrative supermax rookie extension in NBA history. His $207 million, five-year deal with theDallas Maverickseclipses what any other rookie has ever received at the end of their first contract. This is because of the stunning, historic accomplishments Doncic achieved at just 22-years-old. Now that thesilky Sloveniangot paid, though, his former…
United Kingdom racing team McLaren has raised funds and sold its Applied business division as part of a s… United Kingdom racing team McLaren has raised funds and sold its Applied business division as part of a strategic restructuring. Latham & Watkins acted on McLarenscirca GBP 447 million refinancing and GBP 550 million equity investment.…
The government on Tuesday said that financial creditors have realised Rs 2.45 lakh crore or 36 per cent of their total claims under the insolvency resolution process till the end of June. As many as 4,540 companies were admitted under the corporate insolvency resolution process as of June 30 this year. The process is initiated…
Forecasts predicting an impending tsunami of corporate insolvencies are alarmist, though the need for ongoing alertness remains, according to UK insolvency specialists. Government support measures have allowed insolvency levels to remain stable amid the pandemic, but recent data shows significant surges as crisis-era support is withdrawn. According to statistics released by the Insolvency Service, June…