GLENN JEFFREY/Stuff Quinn Lewis Moore robbed the Big Barrel liquor store in Waiwhakaiho, New Plymouth, on December 27. On his way home after losing a large quantity of money on the pokie machines, a meth-addicted man with a $2000 drug debt to pay stopped at a Taranaki liquor store and robbed it at knifepoint. With…
Insolvency regulator IBBI has come up with a discussion paper on Code of Conduct for the Committee of Creditors (CoC), which is the custodian of public trust during resolution process. The proposed Code of Conduct, which establishes broad principles that can be applied to every situation, is expected to elevate accountability and responsibility of Committee…
Outlook August 28, 2021 19:59 IST ”Insolvency resolution plans should look to maximise biz value rather than just recover dues” outlookindia.com 1970-01-01T05:30:00+0530 New Delhi, Aug 28 (PTI) The focus of an insolvency resolution plan should be to maximise the value of the business concerned and not just to recover the dues or liquidate the company,…
THE economic fallout of the Covid-19 pandemic has led to the establishment of a number of debt-relief and financing options for cash-strapped countries. But just how many emerging markets have benefitted from these initiatives? Debt was already a big issue before the health crisis. According to the International Monetary Fund, 36 of the 70 markets…
A college graduate calls their family on video to celebrate Kemal Yildirim | Getty Images Earlier in August, the U.S. Education Department under President Joe Biden announced it would cancel another $1.1 billion in student loan debt for about 115,000 borrowers who attended ITT Technical Institute, a now-defunct school. This latest round of forgiveness brings…
The focus of an insolvency resolution plan should be to maximise the value of the business concerned and not just to recover the dues or liquidate the company, an IBBI official said on Saturday.The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in implementing the Insolvency and Bankruptcy Code (IBC). Speaking at…
The past few weeks have seen debates surrounding the Parliamentary Standing Committees call for an overhaul of the Insolvency and Bankruptcy Code owing to low recovery rates and delays in resolution process. Citing a high rate of pendency and incidences of liquidation, the report laments colossal haircuts taken by creditors. Amongst other things, the report…
It also suggested that a professional code of conduct for the CoC be put in place, which would define and circumscribe their decisions, as these have larger implications for the efficacy of the Code. The erosion of value of stressed firms before the initiation of the corporate insolvency resolution process (CIRP) is a matter of…