The crisis-hit Infrastructure Leasing and Finance Limited (IL&FS) group has addressed a debt of about Rs43,000 crore and is confident of addressing an additional debt of Rs14,400 crore, taking its total debt recovery to Rs58,000 crore by March next year. In a presentation, IL&FS says, “Significant portion worth Rs50,000 crore of estimated recovery would be…
image copyrightPA Mediaimage captionKwasi Kwarteng is keen to reassure businesses The government has told business leaders it will take a “cautious approach” to firms that owe it money in the wake of the coronavirus pandemic. The message came in a letter from Business Secretary Kwasi Kwarteng to the Institute of Directors and R3, which represents…
Senate Majority LeaderCharles SchumerChuck SchumerPride Month concludes without Equality Act vote in Senate Republicans should hit the reset button on Biden infrastructure deal The world is no longer fit for Sept. 11 war authorizations MORE (D-N.Y.) on Sunday called for the National Rifle Association (NRA) to be investigated for bankruptcy fraud by the Justice Department…
Armed with Supreme Court order, banks may invoke personal guarantees of tycoons ranging from Venugopal Dhoot to Kapil Wadhawan to recover unpaid loans from their delinquent firms, sources said Monday. TopicsBanks|Indian promoters|Supreme Court Armed with Supreme Court order, banks may invoke personal guarantees of tycoons ranging from Venugopal Dhoot to Kapil Wadhawan to recover unpaid…
Download CSVShow datatableNumber of bankruptcies of businesses and institutions (excluding sole proprietorships) adjusted for court sessions days Number of bankruptcies of businesses and institutions (excluding sole proprietorships) adjusted for court sessions days 2017 July 266 2017 August 231 2017 September 237 2017 October 261 2017 November 251 2017 December 269 2018 January 273 2018 February…
NEW YORK (AP) U.S. Senate Majority Leader Chuck Schumer on Sunday called on the Justice Department to investigate the National Rifle Association for bankruptcy fraud, saying the financially stable gun-rights group abused the system when it sought bankruptcy protection in the wake of a New York lawsuit seeking to put it out of business. A…
The late womans son, who asked not to be identified, said he was also considering legal action after months of delays by Chronos Care management. He said he had been repeatedly told by the company that it was unable to refund the bond because it was in the process of refinancing and had been badly…
A DEBT expert who ran up nearly 40,000 of rent arrears on his 1.5million home has been declared bankrupt. Alan Harty, 41, failed to comply with an order to pay cash outstanding for 11 missed monthly payments. 1 Debt expert Alan Harty has gone bankrupt The money guru was taken to court by Glasgow-based landlord…
In a bid to address information asymmetry among investors, stock exchanges, BSE and NSE, on Friday came out with a framework for dealing with companies undergoing corporate insolvency resolution process. In the recent past, the exchanges have come across instances where the approved resolution plan provides for delisting of the company or write off/cancellation/extinguishment of…
I dont normally get to put a positive spin on the thorny topic of debt, but the latest 2020 Annual Report from the Insolvency Service of Ireland (ISI) has some good things in it. irst are the numbers of Personal Insolvency Arrangements (PIAs), down 3pc(only 3pc, that is, due to the pandemic clogging up courts…