Washington, DC: The Executive Board of the International Monetary Fund (IMF) approved on April 1, 2021 a third tranche of grants for debt service relief for 28 member countries under the Catastrophe Containment and Relief Trust (CCRT). This approval follows two prior tranches approved on April 13, 2020 and October 2, 2020, respectively (see Press Releases20/165and20/304). It enables the disbursement of grants from the CCRT for payment of all eligible debt service falling due to the IMF from its poorest and most vulnerable members from April 14, 2021 to October 15, 2021, estimated at SDR 168 (US$238) million. This tranche of grants for debt service relief will continue to help free up scarce financial resources for vital emergency he…
Read the full article at: https://www.miragenews.com/imf-executive-board-extends-debt-service-relief-539540/
The Centre has taken the Ordinance route to introduce pre-packaged insolvency resolution process (pre-pack) for companies classified as micro, small and medium enterprises (MSMEs).
India has 6-7 lakh companies that are classified as MSMEs, which could potentially benefit from the newly-introduced pre-packaged insolvency framework.
A pre-packaged insolvency in the Indian framework context is an arrangement where the resolution of a companys business is negotiated with a buyer before the appointment of an insolvency professional. It is a blend of informal and formal mechanisms, with the informal process stretching up to NCLT admission, followed by an existing NCLT supervised process for resolution, as specified under the Insolvency and …
Read the full article at: https://www.thehindubusinessline.com/news/national/pre-pack-insolvency-for-msmes-now-a-reality/article34246885.ece
HR restructuring in China can be a tripwire for foreign companies given the countrys strict labor laws and regulatory standards. We spotlight top considerations.
The success of a company often hinges on its ability to recruit, retain, and realize the added value and potential of its employees.
Similarly, in the case of business restructuring how you manage your human capital when your business is in flux, will ultimately determine whether your business remains dormant or thrives during the process.
In this article, we give you an overview of the tools and strategies available for HR managers during the company restructuring period.
HR restructuring strategies
When forming the restructuring plan, the HR manager may seek to terminate, ad…
Read the full article at: https://www.china-briefing.com/news/hr-restructuring-in-china-legal-hr-management-considerations-due-diligence-checklist/
For company restructuring in China, businesses must strategize based on which options will bolster their operational sustainability and facilitate company preparedness and agility, factors that are essential during periods of crises like the pandemic.
Businesses looking to benefit from Chinas economic rebound may consider how their corporate strategy could be optimized through restructuring their operations, HR, finances, or supply chains.
While a successful restructuring strategy can put the company in a better position to achieve its goals through greater operational efficiency, not all such undertakings end well.
Many factors will determine the effectiveness of a company restructuring plan, key among them being how the plan is interp…
Read the full article at: https://www.china-briefing.com/news/company-restructuring-in-china-options-foreign-businesses/
The Centre has used the Ordinance route to introduce pre-packaged insolvency resolution process (pre-pack) for companies classified as micro, small and medium enterprises (MSMEs).
India currently has about 6-7 lakh companies classified as MSMEs, and potentially these many could benefit from the newly introduced pre-packaged insolvency framework.
In the Indian framework context, a pre-packaged insolvency is an arrangement where the resolution of a companys business is negotiated with a buyer before an insolvency professionals appointment. It is a blend of informal and formal mechanisms, with the informal process stretching up to NCLT admission, followed by the existing NCLT supervised process for resolution as specified under the Insol…
Read the full article at: https://www.thehindubusinessline.com/companies/msme/now-in-india-a-pre-packaged-insolvency-process-for-msmes/article34242211.ece
Climbing out of debt can feel like a nearly-impossible task with all the late fees and interest rates. The best debt relief programs can lighten your load.
Our in-depth research led us to the top six debt relief programs to help you get out of debt.
We factored in topics like financial guarantee, transparency and track record to determine the best companies for this list.
Top 6 Credit Relief Services
First look:
- Best debt relief program overall National Debt Relief
- Best debt relief program for tax debt CuraDebt
- Best choice for credit card debt relief DMB Financial
- Best program for customer satisfaction New Era Debt Solutions
- Best program for debt settlement Accredited Debt Relief
- Best interactive debt relief program Freedom…
Read the full article at: https://observer.com/2021/04/6-best-debt-relief-programs-in-2021-debt-relief-companies-reviewed/
An IFA delegation recently met with the Minister for Justice Helen McEntee and the minister of state for law reform James Browne to discuss ongoing reform of the Personal Insolvency Act.
IFA farm business chairperson Rose Mary McDonagh welcomed the Personal Insolvency (Amendment) Bill as it removes the requirement for debt to have originated prior to 2015 in order to be considered relevant debt under the Personal Insolvency Act.
The bill was debated in the Seanad last week, and it is expected to be implemented without delay.
Ms McEntee outlined that the general scheme of a more comprehensive amendment bill will be introduced towards the end of this year.
IFA conveyed to the minister that debt secured by farmland should be considered re…
Read the full article at: https://www.irishexaminer.com/farming/arid-40256594.html
WASHINGTON The Biden administration entered the White House with an eye toward relieving the strain of student loan debt, particularly amid the added financial burden of the coronavirus pandemic.
On day one in office, President Joe Biden signed an executive order extending a pause student federal loan payments enacted by the previous administration as part of COVID relief. Progressive activists and lawmakers have urged the president to go further and cancel student loan debt, but he has said firmly that he does not believe he has the authority to do so by executive order.
President Joe Biden signs the American Rescue Plan, a coronavirus relief package, in the Oval Office of the White House, Thursday, March 11, 2021, in Washington… Read the full article at: https://www.usatoday.com/in-depth/news/politics/2021/04/04/president-joe-biden-considering-student-loan-forgiveness/7006659002/
