Insolvency Guardian Media Centre
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Sullivan High School announces 2021 Achievement Award recipients – Journal Gazette and Times-Courier
{{featured_button_text}} Clint Walker SULLIVAN Recipients of the 2021 Redskin Achievement Award were recently announced prior to Decision Day at the
Author: Toshiro Nishizawa, University of Tokyo
The G20 recently extended its Debt Service Suspension Initiative (DSSI) for the rest of 2021, reflecting the severity of liquidity shortages facing the worlds poorest countries due to the COVID-19 pandemic. But it is only a temporary measure.
A Common Framework for Debt Treatments beyond the DSSI endorsed by the G20 and the Paris Club in November 2020 could be a remedy to address debt sustainability problems going forward. While the Common Framework is a welcome step forward in the G20s concerted efforts to facilitate debt treatment for DSSI-eligible countries, it still needs to address fair burden sharing challenges.
The G20s move to temporarily ease financing constraints for vulnerable…
Read the full article at: https://www.eastasiaforum.org/2021/06/07/can-the-g20-shift-the-global-debt-finance-landscape/
MUMBAI : Financial creditors may realise 55,000-60,000 crore in fiscal 2021-22 through successful resolution plans from the Insolvency and Bankruptcy Code (IBC), credit rating agency Icra has said.
The realisation for financial creditors from the resolution of Corporate Insolvency Resolution Process (CIRP) under the IBC declined significantly in FY2021 with a total resolution amount of around 26,000 crore, almost a quarter of the realisations in FY2020, the agency said.
“As per our estimates, the financial creditors could realise about 55,000-60,000 crore in FY2022 through successful resolution plans from the IBC,” the agency’s Vice President and Group Head Structured Finance, Abhishek Dafria, said in a report.
The increase in the…
Read the full article at: https://www.livemint.com/economy/financial-creditors-may-realise-rs-55-000-60-000-crore-through-ibc-in-fy22-report-11623060409823.html
The Insolvency and Bankruptcy Code, 2016, came into effect in August 2016 but for Part III of the Code that related to insolvency and bankruptcy of individuals including personal guarantors to the corporate debtor. In November 2019, the government notified that Part III of the Code would come into effect from 1 December 2019. Before this notification, there were a series of different and conflicting views by tribunals; this notification was challenged before various High Courts that led to a rather anomalous situation. It is finally in Lalit Kumar Jain v. Union of India that the Supreme Court transferred all the cases to itself in order to avoid these conflicting views and put this issue to rest finally. The court has held that the not…
Read the full article at: https://www.newindianexpress.com/opinions/2021/jun/08/the-fate-of-personal-guarantors-under-ibc-2313035.html
SULLIVAN Recipients of the 2021 Redskin Achievement Award were recently announced prior to Decision Day at the Sullivan High School gymnasium.
Recipients of this years annual award are juniors: Joann Mathias, daughter of Elizabeth and Michael Mathias, and Ryan Villalobos, son of Michelle Villalobos. Representing the Class of 1968, the originators of the Redskin Achievement Award, were Charles Landers, Paula Mossman, and Bill Standerfer.
Candidates are nominated anonymously by a SHS Teaching Staff Nominating Committee then forwarded to the SHS Class of 1968 Selection Committee. The recipients remain anonymous until the time of the presentation.
Nominations are based on qualities provide…
Read the full article at: https://jg-tc.com/news/local/education/sullivan-high-school-announces-2021-achievement-award-recipients/article_c134e81d-9e1c-5a4b-b8e5-cbf4ac4b980e.html
A major Dubai property investment fund is in the spotlight after its lenders blocked a debt restructuring plan and raised “serious concerns” about its transparency and governance.
Dubai-based Emirates REIT was forced to withdraw a restructuring proposal for its $400 million dollar Islamic bond after a rare campaign of investor activism something not commonly seen in the conservative Gulf region.
Emirates REIT, the largest Sharia-compliant real estate investment trust (REIT) in the United Arab Emirates, confirmed on Monday that it failed to get the 75% of shareholder votes needed to go ahead with the restructure, which would have included delaying the bond’s maturity date by two years to 2024.
“Emirates REIT has therefore decided t…
Read the full article at: https://www.cnbc.com/2021/06/07/dubais-emirates-reit-halts-debt-restructure-plan-after-creditor-vote.html
MINNEAPOLIS General Mills, Inc. is restructuring its business structure to capitalize on opportunities around digital, data and technology, and e-commerce, according to the company. While the exact details of the restructuring have not been publicly announced, it may entail the elimination of staff and the sale of properties.
To be clear, this is not simply a cost-cutting exercise, said Jeffrey L. Harmening, chairman and chief executive officer, on May 20 during a virtual presentation at the BMO Capital Markets Farm to Markets Conference. The goal of this initiative is to free up resources from parts of our organization and redeploy them into more growth-facing areas, such as digital and data and technology, e-commerce and strategic re…
Read the full article at: https://www.foodbusinessnews.net/articles/18789-general-mills-restructuring-organization
Education is the single highest-return investment most Americans will make, so getting our system of higher-education finance right is fundamentally important for US households and the economy.
A key point in the student-loan debate is that the outcomes of borrowers vary widely. Undeniably, a significant number of borrowers are struggling, and are sympathetic candidates for some kind of relief. Student-loan balances have surged over the past decades. According to the New York Fed, last year student loans had the highest delinquency rate of any form of household debt.
Most student borrowers end up as higher earners who do not have difficulties repaying their loans. A college education is, in the vast majority of cases in America, a ticke…
Read the full article at: https://review.chicagobooth.edu/economics/2021/article/how-get-help-student-debt-holders-who-really-need-it
The agency believes that there have been some positive outcomes from the presence of the IBC despite the delays that are becoming common.
Topics
IBC|IBC resolution|debt resolution
Financial creditors may realise Rs 55,000-60,000 crore in fiscal 2021-22 through successful resolution plans from the Insolvency and Bankruptcy Code (IBC), credit rating agency Icra has said.
The realisation for financial creditors from the resolution of Corporate Insolvency Resolution Process (CIRP) under the IBC declined significantly in FY2021 with a total resolution amount of around Rs 26,000 crore, almost a quarter of the realisations in FY2020, the agency said.
“As per our estimates, the financial creditors could realise about Rs 55,000-60,000…
Read the full article at: https://www.business-standard.com/article/finance/creditors-may-realise-rs-55-000-60-000-cr-through-ibc-in-fy22-report-121060700704_1.html
Transport Minister Fikile Mbalula.
OJ Koloti/Gallo Images
- The RAF has reported significant progress in keeping its house in order.
- For the first time in decades, the entity claimed that it has reported a R3.2 billion surplus for the period ended on 31 March 2021.
- The company has also increased its investment income from R62 million to R157 million.
Transport Minister Fikile Mbalula is optimistic they are on the right path to turn the troubledRoad Accident Fund(RAF) into a sustainable and equitable road accident scheme.
For years, the RAF has struggled with financial woes, but during a media briefing on Monday, Mbalula said that the turnaround strategy has been yielding results.
Mbalula said the RAF had reduced administrative costs …
Read the full article at: https://www.news24.com/news24/southafrica/news/raf-has-recorded-a-r32-billion-surplus-for-first-time-in-decades-mbalula-20210607
A battle over who is responsible for cleaning up hundreds of oil and gas rigs in the Gulf of Mexico is quietly playing out in a bankruptcy court in southern Texas. The contestants in this game of fossil fuel infrastructure hot potato: Fieldwood Energy, an offshore drilling company attempting to offload more than $7 billion in environmental cleanup responsibilities; a group of oil majors including Chevron, Marathon Petroleum, and BP; and the Department of the Interior.
Fieldwood has declared bankruptcy, and a court is considering the companys plan to split its assets, moving older legacy wells and drilling rigs that are expensive to clean up into two entities while creating a new company appropriately named NewCo to purchase the more p…
Read the full article at: https://grist.org/accountability/oil-gas-bankruptcy-fieldwood-energy-petroshare/
Law360, London (June 7, 2021, 3:16 PM BST) — Gefion Insurance A/S was declared bankrupt on Monday after the embattled Danish company failed to fend off a 30 million ($36.5 million) legal claim from a German car rental company.
Gefion, which has been in administration for almost a year in a move to pay off creditors, was granted a request for bankruptcy at Denmark’s Maritime and Commercial High Court.Administrators said the company could no longer afford to pay creditors after losing a Court of Appeal ruling in Germany.
In Britain, the Financial Services Compensation Scheme said it would step in to protect policyholders in the U.K. The company was one…
Read the full article at: https://www.law360.com/insurance-uk/articles/1391484/danish-insurer-gefion-bankrupt-after-30m-legal-defeat
Westpac has today outlined the support measures available to help consumer and business customers impacted by the latest lockdowns in Victoria.
Customers in need of financial assistance can access our dedicated support team who will tailor assistance to suit the customers circumstances.
This may include the following:
Consumer
- Credit card repayment and interest rate reductions for a period of time.
- Home or personal loan repayment deferrals or reductions, interest rate reductions and loan term extensions.
- Fee waivers across a range of products.
- Restructuring of debt.
- Referrals to financial counsellors or other support services.
Business
- Case management support for our small business customers experiencing financial difficulty.
- Re…
Read the full article at: https://www.miragenews.com/westpac-group-support-measures-for-customers-572788/