Resolution Plan Providing Contingencies To Ensure Compliance With Building Norms Can’t Be Deemed Unviable: NCLAT

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Arun Baroka (Technical Member) and Mr. Barun Mitra (Technical Member) has held that one of the contingencies outlined in the resolution plan has been accepted, and Successful Resolution Applicant (SRA) has expressed readiness to execute the construction in…

Rex seeks extension to administration as sale process yields ‘interested parties’ | News

The administrators of Australia’s Regional Express (Rex) are seeking an extension to the carrier’s voluntary administration period, as they confirm several “interested parties” in the sale process.  Ernst & Young (EY), which is the appointed administrator for Rex, said it is working to narrow the number of bidders, to continue “progressing negotiations with a view…

Oakbrook Taps Experian ReFi tech to Launch Debt Consolidation Offering to Underserved Customers

Oakbrook, the consumer lending business, and global data and technology company Experian have partnered to launch OakbrookOne, a new personal loan offering aiming to make borrowing simpler, fairer, and more accessible.  Developed using ReFi, a debt consolidation technology, OakbrookOne aims to make borrowing easier and more accessible, particularly for those traditionally underserved by mainstream credit.…

EU, Italy Unveil Bold Debt-Relief and Development Plan for Africa

Italy and the European Union are collaborating on a comprehensive debt-relief initiative for Africa that will convert $270 million in debt into local development projects over the next decade. This plan is Italy’s second initiative in support of Africa, following the Mattei Plan for Africa, which focuses on boosting agriculture, energy, and infrastructure to curb irregular migration…