Eat a live frog first thing in the morning and nothing worse will happen to you the rest of the day, Mark Twain once said.
The witticism means getting the biggest, most important task, done first. Will the Reserve Bank of Indias (RBIs) new restructuring package for small borrowers turn out to be a case of bankers developing a taste for the amphibious creatures? Rajkiran Rai G, chairman of the Indian Banks Association and managing director and chief executive officer (CEO) of the Union Bank of India, believes that the main pu…
Read the full article at: https://wap.business-standard.com/article/economy-policy/rbi-s-new-restructuring-scheme-for-small-borrowers-will-it-work-121052300905_1.html
Ten minutes into “Uncut Gems” and you know who Howard is. He’s a man set in his ways, who’s found success despite the bad decisions he makes. His career as a jewelry store owner has only served to grow his gambling addiction, evidenced repeatedly: He pawns Kevin Garnett’s NBA championship ring, gifts counterfeit Rolex watches that aren’t his, and plays a game of cat and mouse with the black opal, using its theoretical wealth to get the money he needs to pay off a portion of his gambling debt (one of many).
The events in “Uncut Gems” are a mere slice of Howard’s life, and it’s clear the situation is not out of the norm for him. He’s practiced in the ways of hustling the hustlers around him and worming his way out of bad situation…
Read the full article at: https://www.looper.com/418192/the-ending-of-uncut-gems-explained/
Six months after it transferred all the cases related to personal insolvency to itself, the Supreme Court has ruled that creditors can proceed against promoters of defaulting companies to recover debt if such promoters have given personal guarantees to secure funds. The top court has also said that lenders can also proceed against the promoters of a defaulting company even when the corporate insolvency resolution process of the firm itself has not been completed.
What did the Supreme Court say about personal insolvency under IBC?
One of the most important things that the SC has said is that mere approval of a resolution plan for a debt-laden company does not automatically discharge a promoter from their liability in lieu of the personal…
Read the full article at: https://indianexpress.com/article/explained/what-is-supreme-court-ruling-on-creditors-invoking-personal-guarantees-7327270/
The Italian great is looking for a new challenge after confirming his exit from Juventus
Former Portuguese champions Belenenses have made a contract offer to Gianluigi Buffon that includes sweets, a museum pass and free lodging.
Buffon said earlier this week that he is evaluating his options after confirming his departure from Juventus.
If there is someone even crazier than me who contacts me and imagines something even more marvellous, I will follow that person, because thats what life is all about, the Italian great said.
What has been said?
Belenenses have taken up the challenge by writing a letter to Buffon setting out why he should take up their offer of a move to Portugal.
The letter said: We heard that you are l…
Read the full article at: https://www.goal.com/en-au/news/belenenses-make-sweet-contract-offer-to-buffon/unw7f95iu37m1qvmkwnrakxqn
Garuda Indonesia needs to completely restructure its business, potentially reducing the number of planes it operates to less than half its main fleet as it seeks to survive the crisis wrought by the pandemic, its president told staff this week.
We have to go through a comprehensive restructuring, a total one, President Director Irfan Setiaputra said in an address to staff on May 19, according to a recording heard by Bloomberg.
We have 142 aircraft and our preliminary calculation on how we see this recovery has been going, we will operate with a number of aircraft no more than 70.
The comments refer to the fleet of Garudas full-service airline excluding its low-cost carrier Citilink. Garuda is already operating at a reduced capacity of j…
Read the full article at: https://www.executivetraveller.com/news/garuda-to-face-abrupt-end-without-major-restructuring-halving-fleet
Arncliffe Youth Centre is now officially opened for all to enjoy. There were fears for the future of the youth centre after its builder was placed under voluntary administration in 2019. Bayside Mayor Joe Awada opened the Centre recently and said seeing the project through was all about community engagement. “The Arncliffe Youth Centre is a great example of what can be achieved when Council engages with the local community and works with developers to deliver not only a modern residential and commercial hub, but also a community facility,” mayor Awada said. “The need for an all-inclusive Youth Centre was identified by Council several years ago. It was acknowledged that we needed a safe space where young people from all walks of life coul…
Read the full article at: https://www.theleader.com.au/story/7263190/arncliffe-youth-centre-opened-for-all-to-enjoy/
SINGAPORE: It seems that Sembcorp Industries could have hit upon something last year when it announced the sale of Sembcorp Marine to effectively create two entirely separate entities that will focus on energy and marine.
That move may have triggered other Singapore conglomerates to think critically about their own businesses as Keppel Corporation (Keppel Corp), CapitaLand and Singapore Press Holdings (SPH) all announced large restructuring moves.
It may well be that the writing has been on the wall for these four companies for a while now as far as restructuring goes.
But where there may have been some latent hesitation to carve out traditional core business units, COVID-19 has thrown any emotional consi…
Read the full article at: https://www.channelnewsasia.com/news/commentary/sph-sembcorp-marine-keppel-capitaland-singtel-comfort-profit-14856208
Former Portuguese champions Belenenses have made a contract offer to Gianluigi Buffon that includes sweets, a museum pass and free lodging.
Buffon said earlier this week that he is evaluating his options after confirming his departure from Juventus.
If there is someone even crazier than me who contacts me and imagines something even more marvellous, I will follow that person, because thats what life is all about, the Italian great said.
What has been said?
Belenenses have taken up the challenge by writing a letter to Buffon setting out why he should take up their offer of a move to Portugal.
The letter said: We heard that you are looking for a new challenge and receptive to listening to a crazy and stimulating proposal.
Therefore, w…
Read the full article at: https://www.sportingnews.com/au/football/news/gianluigi-buffon-gets-crazy-contract-offer-that-includes-pastries-and-museum-pass/mner54xiulrk18u1sf3h1txi5
JASON DORDAY/Stuff
Adam Grace from Mngere, Auckland, managed to work his way out of debt.
For Aucklander Adam Grace, being thousands and thousands of dollars of debt was a symptom of much deeper hurts in his past.
Raised in poverty, Grace was a gambler, a drinker, and an angry man.
I didnt have great role models to be honest, he says. I came from a negative background.
Grace, a warehouseman in a logistics company, has now got on top of his debts, owing only a manageable amount on a modest car, having paid off just over $50,000 in unsecured debt.
Its something he said he could not have achieved without dealing with his gambling, anger and drinking first.
He even served a spell in prison, though it was there that the beginnings o…
Read the full article at: https://www.stuff.co.nz/business/money/124755192/how-auckland-warehouseman-paid-off-more-than-50000-of-debt
Financial research website Moneyhub has compiled the 12 ‘Sacred Rules’ of credit cards every cardholder should follow, if they don’t want to fall victim to easy, and expensive, consumer debt.
OPINION: Its funny when we mention debt or hear about it in the news, we automatically seem to think it is a bad thing.
Dont get me wrong, bad debt has caused a lot of financial stress for many families in New Zealand and needs further regulation. But sometimes debt can help you get ahead.
Before we focus on all the ways that debt can help you personally, its worth pausing and considering the crucial role its had in helping many nations over the past year. Since the arrival of Covid-19, many countries, including New Zealand, have used deb…
Read the full article at: https://www.stuff.co.nz/business/opinion-analysis/300288031/debt-doesnt-have-to-be-a-dirty-word
The owners of Atria Watford announced this week that a new financial restructuring plan has been agreed for the shopping centre.
SGS also revealed that the restructuring enables new funding to support further investment of its four shopping centres, which includes Watford.
Steve Gray, head of European Retail Asset Management at Global Mutual – the company which took over the shopping centre last year – described the news as a “defining moment”.
He said he was “proud” his team have been able to deliver over the transition period and says thanks to the new funding certainty and “stable” capital structure, SGS can now focus on delivering its three-year business plan.
See more: Owners of Atria Watford issue update on future of shopping centr…
Read the full article at: https://www.watfordobserver.co.uk/news/19322181.atria-watford-benefit-new-investment-company-restructure/