Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Controversy over two old houses catching fire on a block sited for a Brisbane townhouse development has come at a bad time for the developer high-profile property investor Sasha Hopkins.
Key points:
Sasha Hopkins owns a business that went into administration last year owing about $9 million to at least 70 creditors
An investigation is underway into how the two homes caught fire just days apart on a Brisbane development
There is no suggestion Mr Hopkins has any connection with the fire
Mr Hopkins, who is often presented in media reports as a brilliant young “property guru”, has spent months dealing with the collapse ofVictorian property development company Hunter Capital Investments Pty Ltd that he established in 2018.
LONDON, June 4 (Reuters) – Poor countries struggling to meet their dues in the wake of the COVID-19 crisis should be given a temporary buffer to avoid the risk of credit rating downgrades while they renegotiate their debt, a study published on Friday said.
Costs from the pandemic have triggered a spiralling in the public debt burdens of many developing countries, prompting the G20 group of major economies to last year unveil a proposal designed to help governments to overhaul the debt they owe to official and commercial creditors.
But participation in the G20 common framework has been limited so far by fears that countries signing up will face credit rating downgrades because of potential losses for private creditors from…
President of the National Black Farmer’s Association John Boyd stands in his fields in Baskerville, Va. He says the USDA’s relief program is “like the fox watching the hen house.” Melina Mara/The Washington Post via Getty Imageshide caption
toggle caption
Melina Mara/The Washington Post via Getty Images
Farmers of color are set to get some unprecedented debt relief starting this month from the U.S. Department of Agriculture. The latest federal COVID aid package includes an estimated $4 billion for the USDA to wipe away these farmers’ debts.
It’s an unprecedented Congressional mandate to make up for the damage that decades of lending discrimination has had on farmers of color. The distrust runs so deep that the department h…
The revised debt restructuring proposal for Religare Finvest Ltd (RFL) has entered the final stage with lead lender State Bank of India giving its preliminary nod for the rejig.
RFL, an NBFC arm of Religare Enterprises Ltd, has been barred from undertaking fresh business as it is under corrective action plan of the Reserve Bank of India since January 2018 due to its weak financial health.
“Yesterday, we got a favourable nod from SBI that they are going to be considering favourably the proposal with REL as an investor (for RFL debt recast),” Religare Enterprises Chairperson Rashmi Saluja told PTI on Friday.
Other formalities like capital infusion would be undertaken shortly, she said, adding, implementation should happen in two mo…
Betty Chenier, aged 60, grows potatoes, watermelon, kale, collards, and other vegetables, and raises chickens, hogs and cattle on her 50-acre farm, selling her produce at a farmers market in Baton Rouge, Louisiana. Betty and her husband, John, bought their current farm in Opelousas, Louisiana roughly 30 years ago, but the couple has been farming far longer, John since childhood. While roughly 33,000 farmers receive a loan from the USDAs Farm Service Agency each year, Betty and John have never received a loan from the USDA. Its not for lack of trying. When Chenier Farms applied for a USDA loan to purchase a water well, they wanted us to mortgage 50 acres for a loa…
We want to help you make more informed decisions. Some links on this page clearly marked may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.
Its easy to feel overwhelmed by high-interest debt, especially. If you have debt from multiple lenders. In order to stay afloat, you might make monthly payments that only cover interest, barely making any progress towards paying down the principal balance.
But there is a path forward. Debt consolidation is a strategy that combines multiple debts into a single payment at a lower interest rate, which can help you get out of debt faster. If you have high-interest debt under different accounts, co…
Credit downgrade buffer proposed for poor nations seeking debt help -study | 1450 AM 99.7 FM WHTC | Holland
For the health and safety of everyone, our offices are temporarily closed to the public. If you have won a prize from us we will be mailing it to you or will contact you with specific information needed to redeem your prize. Feel free to call us with questions during weekday business hours at (616) 392-3121.
The Insolvency Law Committee (committee), in its third report, recommended that section 32A be inserted into the Insolvency and Bankruptcy Code, 2016 (code). This granted immunity to the corporate debtor and its property from any action under penal laws following a successful corporate insolvency resolution process (CIRP). This section attempts to balance the codes goal of value maximization, last mile repayments and the duty of the state to penalize the commission of offences, especially those involving the public interest. The committee believed that, in the absence of such immunity, potential resolution applicants might price their resolution plans lower or be discouraged from proposing a resolution plan.
Reference is made to earlier information provided regarding Prosafe SEs (Prosafe or the Company) ongoing financial process with its lenders.
Prosafe is pleased to announce that it has received support from lenders of Prosafe SE and Prosafe Rigs Pte. Ltd. on a comprehensive and material restructuring of the financial indebtedness of the group (the Transaction). The Company has received acknowledgment of credit approval (subject to certain conditions) in support of the Transaction from ca. 79% across the USD 1300 million facility and the USD 144 million facility with additional credit approvals expected by mid-June 2021.
The terms of the Transaction will result in significant de-leveraging of the balance sheet with ca. 75% debt reduction,…
HONG KONG — With billions of dollars in aviation and other assets in play, creditors of China’s bankrupt HNA Group gathered online and in person for their first official meeting on Friday.
The group’s restructuring likely has months or even years to go, with the meeting representing a key step forward in a process that will be felt by companies from Asia to the U.S. and Europe.
HNA Group gained worldwide attention for its aggressive purchases of well-known assets, including the Radisson hotel chain and aviation services company Swissport Group, as well as stakes in a global network of airlines and airports. But HNA and Chinese peers Dalian Wanda Group, Anbang Insurance and Fosun International were forced to rein in their free-spendin…
Grant Evan Donley of Sydney, NSW has been disqualified from managing companies for two years for his role in the failure of three companies and trading while insolvent.
The three construction companies specialised in interior fit-outs. They include:
allowed Conceptual Interiors NSW and Conceptual Interiors Group to trade while insolvent when the company was unable to meet its liabilities as and when they were due to be paid;
Hotel quarantine security provider Unified Security has gone into liquidation, a court has been told. Picture: Toby Zerna
The firm responsible for security at a major Victorian hotspot hotel has gone into liquidation as it faces a lawsuit alleging the states second wave was its fault.
Unified Security is the lead defendant in a class action suing it for damages for allegedly allowing Covid-19 to get into the community.
But the Supreme Court of Victoria on Friday was told the firm was out of money and had gone under.
Read Next
Unified Security supplied guards at Rydges on Swanston, from where 90 per cent of positive Covid cases seeded in the states second lockdown.
Also named in the suit is MMS Security, which was respons…
