Insolvency Guardian Media Centre
RCom is estimated to have a total debt of over Rs 45,000 crore, which includes exposure of public sector banks also.
PTINew Delhi Last Updated:May 30, 2019 |08:49 IST New Delhi, May 29 (PTI) The committee of creditors of debt-ridden telecom firm Reliance Communications is scheduled to meet on Thursday, the company said in a regulatory note.
“…a meeting of committee of creditors will be held on May 30, 2019,” RCom said in the note on Wednesday.
The Anil Ambani-led firm is under the corporate insolvency resolution process, and Mumbai bench of the National Company Law Tribunal has appointed Pradeep Kumar Sethi to manage affairs, business and assets of RCom as interim resolution professional.
The company is estimated to have a total debt of ov…
Read the full article at: https://www.businesstoday.in/current/corporate/rcom-creditors-to-meet-today/story/351991.html
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Many people believe that getting rid of debt is so consuming that people feel devoid of purpose after finishing it off. When in fact, most of the poor population of our world, after settling debts, start to build on their newfound opportunities of being able to invest. Life after debt for the poor is full of opportunities.
How do people cope with debt
There is no denying the fact that debt can very easily destroy a persons livelihood. Banks and conventional microfinance companies tend to increase their interest rates to a point where people have to pay double of what they owe. This has led many to poverty, and a point which they cannot escape.
But there are numerous examples of people overcoming this predicament and becoming more confident…
Read the full article at: https://www.cryptopolitan.com/is-there-life-after-debt-for-the-poor/
When it comes to outrageous pensions and overtime at the MTA and public entities, we find ourselves at a crossroad. Thanks to the Empire Center for Public Policys expose of a railroad worker soaking up $344,000 in overtime, the iron is suddenly hot for change.
This is our chance to declare the MTA insolvent and start from scratch under a receivership that can legally revamp the archaic rules, regulations and contract provisions that have resulted in employees collecting unfathomable overtime resulting in six-figure pensions taxpayers foot over the life of the retirees.
These giveaways have been common for decades the result of sheepish politicians giving away the store to the unions in previous negotiations and legislati…
Read the full article at: https://libn.com/2019/05/29/levy-place-mta-into-receivership-and-start-from-scratch/
Staff Reporter|29 May 2019
The prestige Melbourne home builder Canny Buildershas entered voluntary administration.
Builder Damian Canny called in the accounting firm PKF last Friday with the administratorsGlenn FranklinandJason Stone assessing whether the business can be sold.
PKF said it is already aware of a number of parties interested in the business and the companys IP.
The 12 affected owners of home under construction have been contacted, the realestatesource website advised.
Mr Franklin said all efforts will be made to transition these projects as part of a business sale or facilitate a transfer to builders of the home owners choice.
…
Read the full article at: https://www.propertyobserver.com.au/forward-planning/investment-strategy/property-news-and-insights/99143-prestige-melbourne-home-builder-canny-builders-goes-into-voluntary-administration.html
DUBLIN, May 29 (Reuters) – Bond sales linked to the resolution of Irelands banking crisis helped the central bank record a profit of 3 billion euros ($3.35 billion) last year, 2.4 billion of which has been paid to the state to help cut the national debt.
The annual surplus paid to the state has risen sharply in recent years as a result of government debt the central bank acquired during the financial crisis, related chiefly to the liquidation in 2013 of the collapsed Anglo Irish Bank.
Irelands national debt ballooned during the financial crisis a decade ago, partly as a result of its bank bailout, the most expensive in the euro zone.
Ireland pledged to slowly feed the 25 billion euros worth of new bonds – with maturities ranging from 27 …
Read the full article at: https://www.reuters.com/article/ireland-cenbank/irish-central-bank-bond-profit-helps-cut-national-debt-idUSL8N2354JY
Los Angeles, 28 May 2019 International law firm Hogan Lovells is pleased to announce that David Simonds has joined the firms Business Restructuring and Insolvency (BRI) practice as a partner based in the firms Los Angeles office.
I am very excited to expand my practice both nationally and internationally at Hogan Lovells, said Simonds. Ive worked with members of the Hogan Lovells BRI practice over the years and am looking forward to offering the firms broad array of services to my clients and strengthen the already established BRI platform in Los Angeles.
We have been strategically expanding our practice globally and David is a perfect addition, said Chris Donoho, Global Head of Hogan Lovells Business Restructuring and Insolvency…
Read the full article at: https://www.lawfuel.com/blog/hogan-lovells-expands-l-a-office-with-prominent-business-restructuring-and-insolvency-partner/
Jake Johnson has been cast in the upcoming ABC drama series based on the graphic novel series Stumptown, taking over the role played in the pilot by Mark Webber.
Johnson will star opposite series lead Cobie Smulders. It follows Dex Parios (Smulders), described as a strong, assertive, and sharp-witted army veteran with a complicated love life, gambling debt, and a brother to take care of in Portland, Oregon. Her military intelligence skills make her a great P.I., but her unapologetic style puts her in the firing line of hardcore criminals and not quite in alliance with the police.
Johnson will play Grey McConnell, Dexs best friend. The series also stars Tantoo Cardinal as Sue Lynn Blackbird, Cole Sibus as Ansel Parios, Adrian Martinez as …
Read the full article at: https://variety.com/2019/tv/news/jake-johnson-stumptown-cobie-smulders-abc-1203228396/
Creditors of Singapore based Swiber Holdings Limited (SHL) and its main subsidiary, Swiber Offshore Construction (SOC), on Wednesday voted in favor of a restructuring proposal which will take the offshore services company one step nearer to implementing a restructuring with equity investment from New York-listed Seaspan Corporation.
The approvals came nearly three years after SHL filed for insolvency. Creditors of SHL and SOC gave the go-ahead for two resolutions, the first being the approval of the restructuring proposal which stemmed from the investment agreement with Seaspan in relation to their proposed investment of up to US$200 million, and the second being the approval of professional fees during the interim judic…
Read the full article at: https://www.oedigital.com/news/466684-creditors-approve-swiber-restructuring-plan
Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR) and in accordance with the requirements of sub-clause 16(g) of Clause A of Part A of Schedule III of LODR, we wish to inform you that a meeting of Committee of Creditors will be held on 30 May, 2019.
You are requested to take the above information on record.
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/reliance-communications-ltd-corporate-insolvency-resolution-process-cirp-intimation-of-meeting-of-committee-of-creditors/article27292931.ece
Sub: Extension of time for filing of Audited Financial Results to the Stock Exchanges under Regulation 33 of SEBI (LODR) Regulations 2015
Dear Sir/Madam,
Request for seeking extension of time to submit Financial results under Regulation 33 of SEBI(LODR) Regulations, 2015, for Financial Year 2018 – 2019 due to appointment of IRP/RP in the Company under Corporate Insolvency Resolution Process.
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/punj-lloyd-ltd-corporate-insolvency-resolution-process-cirp-updates-corporate-insolvency-resolution-process-cirp/article27292928.ece
Pursuant to the Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, kindly note that the seventh meeting of CoC of Kwality Limited is schedule to be held on 30th May, 2019 at 03:30 PM at The Claridges, Viceregal Hall, 12 Dr. A P J Abdul Kalam Road, New Delhi – 110011 as per the provisions of the Insolvency and Bankruptcy Code, 2016 (Code).
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/kwality-limited-corporate-insolvency-resolution-process-cirp-intimation-of-meeting-of-committee-of-creditors/article27285006.ece
“As markets contemplate the drag of a global trade dispute, and the consequent more accommodative stance from central banks, bonds yields are trading near eighteen-month lows. The Japanese yen is another beneficiary, although gold is yet to join the party. Stocks are under pressure.”
Downer EDI lost 9.1 per cent to close at $7.16 after disclosing its joint venture partner at its Murra Warra Wind Farm, Senvion, filed self-administration proceedings in Germany. The company said it would be assessing whether there would be any potential financial impact.
Energy stocks were slightly weaker on Wednesday as the price of oil fell. Oil Search dropped 1 per cent to $7.15, Origin Energy slid 2.5 per cent to $7.50 and Santos closed 1.6 per cent lower…
Read the full article at: https://www.smh.com.au/business/markets/asx-weakens-as-investors-jump-ship-20190529-p51sda.html