United Nations — To achieve the Sustainable Development Goals (SDGs) and Agenda 2063 aspirations, Africa requires an additional $1.3 – 1.6 trillion in financing. According to a new report ‘Unpacking Africa’s Debt: Towards a Lasting and Durable Solution’ by the UN Special Advisor on Africa launched on 14 November 2024, borrowing remains a necessary tool…
US President Donald Trump holds up outgoing President Joe Biden’s letter as he signs executive orders in the Oval Office of the WHite House in Washington, DC, on Jan. 20, 2025. Jim Watson | AFP | Getty Images With President Donald Trump back in the White House and Republicans in control of Congress, experts worry…
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NCLT has directed for the liquidation of debt-ridden Tulip Hotels, as the tribunal failed to receive any bidder during its insolvency resolution process within the prescribed timeline. On May 16, 2023, the NCLT had directed the initiation of a Corporate Insolvency Resolution Process (CIRP) against Tulip Hotels over a plea filed by Yes Bank, claiming…
By Emlyn Cameron · January 16, 2025, 3:20 PM EST Montoux, a New Zealand-based provider of actuarial software, has hired lawyers from Young Conaway Stargatt & Taylor LLP to help secure U.S. recognition of a liquidation process the company launched in its… To view the full article, register now. Read the original article here
On May 16, 2023, the NCLT had directed the initiation of a Corporate Insolvency Resolution Process (CIRP) against Tulip Hotels over a plea filed by Yes Bank, claiming a default of Rs 900 crore for two corporate guarantees issued by it. Last Updated : 19 January 2025, 13:00 IST Read the original article here
Data breaches and ransomware attacks in the US are increasing companies’ risk of financial losses, in many cases dragging them into bankruptcy or putting them out of business altogether. Data breaches cost companies across the world on average about $4.9 million, and nearly double that amount in the US, according to a 2024 study by…
Data breaches and ransomware attacks in the US are increasing companies’ risk of financial losses, in many cases dragging them into bankruptcy or putting them out of business altogether. Data breaches cost companies across the world on average about $4.9 million, and nearly double that amount in the US, according to a 2024 study by…
A builder who used company funds to pay for his high-performance car and stole almost £90,000 in plant machinery has been given a suspended sentence. Vasile Hrusca withdrew more than £67,000 from his own failing company in 2019 to pay off the remaining balance on a hire purchase agreement for an Audi RS6 which he…
Despite the drop year on year, the number of insolvencies was far higher than most of the last decade, and remains at levels last seen during the 2008 financial crisis. The figures also revealed that compulsory liquidations – where courts order firms to stop trading because they cannot pay their debts – jumped 14% to…