(Recasts with increase to debt, adds details, background) MADRID Feb 29 Spain’s Abengoa, on the brink of becoming the country’s largest-ever bankruptcy, said on Monday its debt had risen by 492 million euros ($535.39 million) in 2015’s fourth quarter as it posted a full-year net loss of 1.2 billion euros. The energy firm, which is…
Finance Minister Arun Jaitley in a post-Budget press conference in New Delhi. (PTI photo) New Delhi: Sebi will develop new products like options in the commodity derivatives market and also take a slew of measures to deepen the corporate bond markets. “New derivative products will be developed by Sebi (Securities and Exchange Board of India)…
Last Modified: Tue, Mar 01 2016. 12 35 AM IST Attracting foreign investment in the insurance and pension sectors, and instilling competition in the transportation sector are the other priorities Rescuing sinking financial institutions using a modern insolvency code, attracting foreign investment in the insurance and pension sectors, making deep-water hydrocarbon exploration more rewarding…
Severed workers of the Power Holding Company of Nigeria (PHCN), are protesting ongoing plans to liquidate the companys assets amidst pending labour issues including outstanding severance benefits of nearly 5,000 workers. The protest was led by the Chairman of the FCT Council of Electricity Employees, Mr Wisdom Nwachukwu on Monday. The workers demanded that…
Real estate developer Inbal Or is in a cross fire of an Israel Tax Authority criminal investigation, allegations by apartment purchasers, and business problems, but at least one threat was removed today. Or has reached agreement with Avraham Wolloch, an apartment buyer who filed a liquidation petition against Or City Real Estate, owned by Inbal…
Press Release Appliance City, a company with its registered office in Papatoetoe, Auckland was placed in liquidation on February 15, 2016, according to the Companies Office. Door-to-door sales company Appliance City was placed into liquidation, while owing Waikato customers. Pritesh Patel of Insolvency Practitioners and Accountants Patel & Co said that the collapse of…
Sebi will develop new products like options in the commodity derivatives market and also take a slew of measures to deepen the corporate bond markets. “New derivative products will be developed by Securities and Exchange Board of India (Sebi) in the commodity derivatives market,” Finance Minister Arun Jaitley said in Union Budget…
Madam Speaker, I rise to present the Budget for the year 2016-17.2. I am presenting this Budget when the global economy is in serious crisis. Global growth has slowed down from 3.4% in 2014 to 3.1% in 2015. Financial markets have been battered and global trade has contracted. Amidst all these global headwinds, the Indian…
White & Case has hired insolvency specialist Damien Whitehead as a local partner in Hong Kong from Herbert Smith Freehills, where he was that firms restructuring and insolvency head for Greater China. Whitehead advises corporates, financial institutes and insolvency practitioners on contentious and non-contentious restructuring and insolvency transactions. He also specialises in commercial disputes with…
NEW DELHI: The Union Budget 2016-17 presented by finance minister Arun Jaitley turned out to be positive for some sectors and negative for others. At 1.35 PM, the BSE Sensex was trading 48 points lower at 23,202. PSU banking counter was in focus after key Budget announcements. PSU banks rallied up to 11 per cent.…