The word “haircut” has suddenly become central to the debate around Essel Group chairman Subhash Chandra’s personal insolvency case. The National Company Law Tribunal (NCLT) has approved a repayment plan under which Chandra is to pay around Rs 6.25 crore against admitted claims of about Rs 22,006.57 crore. On a simple comparison of the two…
The Korea Asset Management Corporation (KAMCO) has written off 3.1 trillion won ($2.2 billion) in long-overdue loans that had been in arrears for more than 20 years. The state-run agency said on the 31st that the move was intended to help vulnerable borrowers struggling with long-standing debt rebuild their finances, in line with the government’s…
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Meanwhile, Allone Landscape & Design director Cameron Griffiths received a five-year ban from managing a company. Liquidators for Allone Landscape & Design filed a serious problem report with the Ministry of Business, Innovation and Employment (MBIE) regarding the director’s alleged mismanagement of the company. The liquidators said they wrote off an overdrawn shareholders’ current account…
Hindusthan National Glass and Industries (HNGIL) has issued a default notice to B9 Beverages under Section 8 of the Insolvency and Bankruptcy Code for alleged unpaid dues of ₹11.77 crore, PTI reported today. HNGIL is an operational creditor of B9 Beverages, it added. This is a mandatory step before filing an application for commencement of…
Market snapshot: Union Finance Minister Nirmala Sitharaman announced that India has met its FY26 fiscal deficit target of 4.4% of GDP, representing a critical milestone in the post-pandemic fiscal consolidation roadmap. Speaking in Chicago, the Finance Minister reiterated India’s commitment to lowering its public debt-to-GDP ratio to 50% by 2030, emphasizing that this target will…
B9 Beverages, maker of India’s first craft beer is facing bankruptcy. Only in July it heaved a sigh of relief after protracted legal wrangling when promoter Ankur Jain was made to quit B9 Beverages under pressure from lenders and employees. But now new trouble has cropped up. … Read the original article here
Rockland County Family Buried in $65,000 Debt Seeks Help to Avoid Eviction Monsey Scoop Read the original article here
A hardworking heimishe Rockland County family with children is facing eviction and approximately $65,000 in debt, much of it from unpaid rent. With the new school year and Yomim Tovim approaching, let’s come together and help this family get back on their feet and start a new page. Every donation helps. Please give generously and…
Orchard company with huge debts ‘may well have traded insolvently’ Stuff Read the original article here