NEW DELHI: The National Company Law Tribunal (NCLT) has given a green light to JSW Energy‘s resolution plan for KSK Mahanadi Power Company under the Insolvency & Bankruptcy Code, which will result in an upfront cash recovery of around Rs 16,000 crore for financial creditors, which is around half their claim. Besides, the creditors will…
Insolvency regulator IBBI has highlighted a welcome trend of more companies being “resolved” under Insolvency and Bankruptcy Code (IBC) and the number of liquidations going down in recent years. There is a consistent upward trend in corporate resolutions and a significant downward shift in the number of liquidations, starting from 2020-21, IBBI Chairman Ravi Mital said…
SINGAPORE – Once Indonesia’s start-up darling, eFishery is eliminating more than 1,000 jobs, or about 90 per cent of the workforce as the agritech firm, hit by fraud allegations, weighs a potential liquidation. The cuts began recently and more reductions are set to follow, people familiar with the matter said, asking not to be identified…
Joann, bankrupt fabrics and crafts company, to close 500 stores Times-West Virginian Read the original article here
Accuride operates manufacturing plants in Erie, Pa.; Henderson, Ky.; Rockford, Ill.; and Springfield, Ohio. (Daniel Knight) [Stay on top of transportation news: Get TTNews in your inbox.] Wheel manufacturer Accuride Corp. expects its U.S. operations to exit bankruptcy proceedings in the coming weeks following a Feb. 11 hearing. Accuride’s U.S. and Canadian businesses filed for…
(TNND) — A third of Americans have more credit card debt than emergency savings, according to a new Bankrate survey. Over half of those surveyed have more emergency savings than credit card debt. And 13% have neither. But Bankrate Chief Financial Analyst Greg McBride said the share of Americans with more debt than savings is…
(TNND) — A third of Americans have more credit card debt than emergency savings, according to a new Bankrate survey. Over half of those surveyed have more emergency savings than credit card debt. And 13% have neither. But Bankrate Chief Financial Analyst Greg McBride said the share of Americans with more debt than savings is…
Highlights The Insolvency and Bankruptcy Board of India has implemented amendments to enhance the efficiency, transparency, and integrity of the Liquidation and Voluntary Liquidation processes, which include changes to auction timelines and stricter eligibility verification for bidders. Mandatory filing of a final report by liquidators when a scheme of compromise or arrangement is approved has…
The Hyderabad bench of the National Company Law Tribunal (NCLT) has officially approved the Rs 16,084-crore resolution plan proposed by JSW Energy Limited for the acquisition of KSK Mahanadi Power Company Limited, a Chhattisgarh-based thermal power producer. This significant development marks a crucial step in resolving the financial distress faced by the company. The corporate…
The Biden Administration put in the regulation to ban medical debt on credit reports, but the regulation is not popular with Republicans & the banking industry. GREENSBORO, N.C. — All work at the Consumer Financial Protection Bureau is on pause right now and several leaders have already been fired or replaced while the Trump Administration…