NEW DELHI: The Dhoot family has offered to pay Rs 30,000 crore to lenders to settle their outstanding loans and pull out 13 Videocon group companies from the insolvency proceedings. A proposal for paying the amount has been forwarded to the Committee of Creditors (CoC) of the Videocon Industries, Venugopal Dhoot told . Venugopal Dhoot…
Banks are not taking enough risk if no loans ever go bad after all banks are in the business of providing risk capital at an appropriate price. But given a certain proportion of loans will go bad, how should banks provide for them in their accounts without knowing exactly which ones will tip over? “Businesses…
By Wayne Robinson | 18 September 2020 The company that was formerly Sunshine Coast based Express Print & Mail is in liquidation, with debts listed at $4m, however the Express Print & Mail business, including the brand itself, was sold prior to liquidation, and is now trading from a new address in nearby Kunda Park.…
By Wayne Robinson | 25 September 2020 The Sunshine Coast printing operation trading as Express Print & Mail took a five-year lease on its new 1400sqm Kunda Park premises on 1 April, before the company that had previously owned the business and the same name, was put into liquidation with debts listed at $4m. New…
In what is definitely one of the more unfortunate social media blunders of the year, STA Travel travel has published a sponsored Facebook post advertising places to go in 2021. Yes, the same STA Travel that was placed in liquidation last month after being placed in voluntary administration, leaving many travellers in the lurch. Introducing…
HOUSTON, Oct. 20, 2020 /PRNewswire/ –Yuma Energy, Inc. (OTC Pink:YUMAQ) (“Yuma” or the “Company”), together with its subsidiaries Yuma Exploration and Production Company, Inc., Davis Petroleum Corp., and The Yuma Companies, Inc. (collectively, the Company and the filing subsidiaries, the “Debtors”), announced today that its voluntary Chapter 11 petition for relief under the United States…
Small and medium businesses (SMBs) that are facing insolvency shouldnt be subject to the same rules as other businesses, the Law Council of Australia said. The peak body of Australias legal profession said that Australia should move away from a one-size-fits-all approach under the Corporations Act of 2001. The Law Council said it was supporting…
Listen to this story The Law Council of Australia is encouraging the Governments move away from theone-size-fits-all approach when dealing with small businesses facing insolvency to be fast-tracked. The reforms to the Corporations Amendment (Corporate Insolvency Reforms) Bill 2020 aim to establish a new formal debt restructuring process for eligible small businesses, to enable financially…
By Jamie Freed 4 Min Read SYDNEY (Reuters) – Virgin Australia looks set to cut basic fares and start charging fees for items like checked baggage and food under new chief executive Jayne Hrdlicka, prompting a wider industry shake-up as the countrys airlines reawaken from the coronavirus crisis. FILE PHOTO: A Virgin Australia Airlines plane…
There is no doubt that markets have remained remarkably resilient in the face of uncertainty in large part because of the massive policy support for both the real economy and for financial markets themselves. Yet, it is important for investors to nonetheless ensure investment portfolios are prepared for a range of possible outcomes. Markets are…