In this 12-part Cadence Investing Series, we discuss several aspects of the investment process and how it actually works in practice. Topics covered include market psychology and fundamental analysis, and aim to provide the reader with a first-hand view of how financial theory stacks up in real world situations. ———————————————————————————— This is the first of…
Billionaire Mukesh Ambanis prospects for bailing out his younger brothers phone company are fading after an Indian tribunal put his siblings Reliance Communications Ltd. into insolvency proceedings, which prohibit connected persons from acquiring assets of delinquent borrowers. Ambani is Indias richest man and the founder of upstart rival Reliance Jio Infocomm Ltd., which had agreed…
THOUSANDS of new homeowners have been left without vital structural defects insurance after insurance carrier Alpha goes bust. Many homeowners who require the 10-year structural defects insurance will still be unaware that they have been left without cover. Alpha, who supplies the insurance new homes require to protect against structural defects, was declared insolvent in…
When the Insolvency (England and Wales) Rules 2016 (IR16) came into force on 6 April 2017 it was clear that significant amendments to the Practice Direction on Insolvency Proceedings were needed as it had been in force since 2014 and was based upon the Insolvency Rules 1986. A planned interim practice direction was never created,…
As banks and financial institutions try to resolve the bad loan cases there is huge demand for insolvency resolution professionals. So far, chartered accountants, company secretaries and lawyers have walked away with the mandate to provide resolution professional services. Non-professionals, including graduates from non-commerce backgrounds and having management experience of 15 years, and who have…
A scathing MPs report into the collapse of Carillion has revealed the stricken construction giant paid almost £4 million to an array of City firms in the days before it was declared insolvent. According to todays report, on 12 January, three days before the company went under and one day before chairman Philip Green wrote…
Shares and bonds of Reliance Communications Ltd. tumbled after an Indian court ordered that the wireless carrier be placed in insolvency proceedings, jeopardizing its proposed $3.7 billion asset sale to Reliance Jio Infocomm Ltd. Shares of RCom, as the company is known, plunged 15.3 percent to 10.5 rupees in Mumbai, while its 2020 dollar bonds…
Shares and bonds of Reliance Communications Ltd. tumbled after an Indian tribunal ordered that the wireless carrier be placed in insolvency proceedings, jeopardizing its proposed $3.7 billion asset sale to Reliance Jio Infocomm Ltd. Shares of RCom, as the company is known, dropped as much as 9.7 percent on Wednesday…
Brokers and investment platforms have admitted they are powerless to prevent customer funds being tapped in the event of an insolvency, after a brokerage collapsed with huge ramifications for investors. Some clients of Beaufort Securities, which was closed by Financial Conduct Authority in March, have been told they will have to foot the bill for…
One of the UKs largest personal insolvency providers has opened a new office in Salford. Creditfix, which looks after tens of thousands of customers, has taken on 4,500 sq ft in the Lowry Mill. The site has been refurbished to accommodate the creation of up to 50 jobs. Chief executive Pearse Flynn believes taking the…