US corporate bankruptcy filings reached a new high in March as companies continue to battle high interest rates and lingering operational challenges. S&P Global Market Intelligence recorded 59 new bankruptcy filings in March, up from a revised total of 48 in February. While year-to-date corporate bankruptcies are below the previous year’s total by the end…
U.S. corporate bankruptcies show little sign of slowing: S&P Investment Executive Read the original article here
Alton worked in corporate insolvency in Australia for seven years prior to moving to Singapore in 2014, where he worked on several of Singapore’s high-profile corporate insolvency and restructuring engagements. Notable assignments Alton has worked on include the receivership of Singapore Flyer Pte Ltd, liquidation of the California Fitness Clubs in Singapore, and restructuring of…
Allowing the plea of Mitsubishi Heavy Industries, the Insolvency Appellate Tribunal NCLAT has set aside the order passed by NCLT, which had restrained the Japanese multinational engineering from encashing the Performance Bank Guarantee submitted by its contractor Punj Lloyd. NCLAT said NCLT “committed an error” by allowing a plea filed by the RP of Punj…
As consumers struggle to cope with mounting debt, a new economic report from the Federal Reserve Bank of New York includes an unprecedented glimmer of hope. Although debt for mortgages, credit cards, auto loans and more increased by billions of dollars in the second quarter of 2024, student loan debt decreased by $10 billion. According to the…
Aug 18, 2024 12:49 AM IST Andhra CM Naidu held a meeting with Prime Minister Narendra Modi in the Capital for the first time since his state got a major boost in the Union Budget. Telugu Desam Party (TDP) president and Andhra Pradesh chief minister N Chandrababu Naidu on Saturday appealed to the Centre to…
Fact Check: Has Trump declared bankruptcy four or six times? The Washington Post Read the original article here
At least 26 councils in some of Britain’s most deprived areas are at risk of effective bankruptcy within the next two years, according to a leading local government group, which says many authorities simply have “nothing left”. Britain’s local government network has been shaken by a string of financial collapses in the past two years,…
Birmingham city council, the largest local authority in the country, has in effect declared itself bankrupt after issuing a section 114 notice, signalling that it does not have the resources to balance its budget. The notice, preventing all but essential spending to protect core services, was issued on Tuesday with council leaders blaming a £760m…
Metals magnate Sanjeev Gupta’s efforts to sell his troubled Liberty Ostrava steelworks hit a setback as the Czech government said potential buyers had lost interest in taking over the company. Gupta’s Liberty Steel has been looking to divestBloomberg Terminal its Czech operations after a court declared the dormant unit with about 5,000 employees insolvent and…