By Accommodation Times Bureau
NEW DELHI:
Injeti Srinivas, Secretary, Ministry of Corporate Affairs on Monday said the majority of corporate insolvency, which has led to a burgeoning of NPAs, has been settled and the accent is now on resolving personal insolvency.
He was speaking at CII-British High Commission organised National Conference on IBC, 2016 held at New Delhi on Monday.
Majority of corporate insolvency, which has led to a burgeoning of NPAs, has been settled and the accent is now on resolving personal insolvency. In this context, an analysis of the outstanding non-food credit shows that the industry tops the lis…
Read the full article at: https://accommodationtimes.com/majority-of-corporate-insolvency-cases-settled-next-move-is-to-resolve-personal-insolvency-injeti-srinivas/
SAN DIEGO (KGTV) – Student loan debt is crippling tens of millions of people, more than credit card debt and auto loans. Now some companies are helping their workers tackle the mounting debt, offering student loan assistance as a benefit.
Fidelity Investments is one company leading the way with its
Step Ahead Student Loan Assistance
program.
We look at our jobs day-to-day and we try and figure out how we can help people make the right financial decisions in their lives and it was something holding back some of our folks here at Fidelity,” said Jared Roethlisberger, a Fidelity Branch Manager in Mission Valley. “They couldnt save for retirement or they were working on saving for tha…
Read the full article at: https://www.10news.com/news/making-it-in-san-diego/making-it-in-san-diego-companies-helping-employees-tackle-student-loan-debt
Debt
consolidation rolls high-interest debts into a single lower-interest
payment, such as credit card bills. It can reduce your total debt and
restructure it so that you pay it more quickly. If you have a
manageable debt amount and simply want to reorganize several bills
with various interest rates, payments and due dates are a sound
approach to debt consolidation that you can deal with yourself.
You
have credit cards, student loans and auto loans in depth. Minimum
monthly payments dont help you solve your debt. Something has to
change, and you are considering debt consolidation because the one
easy payment and lower interest rates they offer are promising.
Some
people decide that they have had enou…
Read the full article at: https://www.conservativedailynews.com/2019/03/is-debt-consolidation-worth-the-risk/
NEW DELHI: As Jet Airways battles acute financial woes, a senior government official Monday said a “good outcome” from the negotiations between the creditors and the company would be better than moving for proceedings under the insolvency law.
“I think creditors and the debtor are in discussion. That is the best process,” Corporate Affairs Secretary Injeti Srinivas said.
He was responding to a query on whether Jet Airways is a fit case to be referred under the Insolvency and Bankruptcy Code (IBC).
“If there is a good outcome from the negotiations between the creditors and the corporate debtor, then that is better than dragging into insolvency. But if that (insolvency) is only option left at that stage, then bankers will take a call,” …
Read the full article at: https://www.thehansindia.com/business/good-outcome-from-creditors-company-negotiations-better-than-insolvency-centre-on-jet-crisis-515124
A Queensland brickworks company formed in the 1800s has entered voluntary administration, the latest collapse in an industry contending with high energy costs and a rapidly slowing property market.
Claypave, which operates a brick manufacturing plant in Ipswich, has appointed insolvency firm Worrells as administrators.
Up to 50 employees risk losing their jobs at the business, which exports to Japan, Europe and the United States.
Headwinds in the housing market has weighed heavily on Australian manufacturing, with Brickworks chief executive Lindsay Partridge predicting more pain for the industry at the recent release of his companys financial results.
Partridge said that the building products manufacturer would be seeking opportunities in…
Read the full article at: https://theurbandeveloper.com/articles/queensland-brickworks-enters-administration-amid-market-headwinds-
One of lifes biggest stressors is debt. Whether its from student loans or credit cards, debt can really restrict your life. When it comes to setting financial goals, such as purchasing a home or saving for retirement, debt can make it difficult to achieve those goals. Even worse, debt can make you feel like you have no freedom to spend money on things you need and want.
Youre not alone in the struggle to pay off your debt as quickly as possible. Try practicing one or more of these methods to pay off your debt as quickly as possible and to reduce your stress.
Transfer Your Credit Card Balance
Interest rates can drastically increase your debts over time. Credit cards, in particular, can charge interest rates as high as 30%.
I…
Read the full article at: https://thriveglobal.com/stories/payoff-methods-to-lower-the-stress-of-your-debt/
New Delhi: The ministry of corporate affairs will soon notify regulations on last possible measures for revival of companies that have been ordered for liquidation through the insolvency process.
“Once the liquidation order is given, the liquidator has to explore Section 230 of the Companies Act first. We are working on the regulation on how this will be done and the process that will be followed,” a senior official aware of the developments said.
This follows a recent order by the National Company Law Appellate Tribunal, in which it directed the liquidator to exhaust options available under this section before proceeding to attempt to sell the company wholly or in parts.
Section 230 of the Act allows creditors to make arrangements wit…
Read the full article at: https://economictimes.indiatimes.com/news/economy/policy/rules-to-revive-companies-before-liquidation-to-come-out-soon/articleshow/68571841.cms
The Supreme Court of India on 25 January 2019 dismissed a challenge to the constitutional validity of the Insolvency and Bankruptcy Code, 2016, and has observed that the economic experiment conducted by means of the enactment of the code is proving to be largely successful going by the large numbers of cases resolved by following the prescribed insolvency resolution process. Below are some key observations by the Supreme Court.
Executive chairman
Shardul Amarchand Mangaldas
Objective of the code. The Supreme Court has put to rest the deliberation on the true objective of the code and has observed that its primary focus is the revival and continuation of operations of the corporate debtor, and not merely recover…
Read the full article at: https://www.vantageasia.com/supreme-court-puts-aims-bankruptcy-code-rest/
Mera Chung had known for weeks that her 30-year career in retail was coming to an end. But Chung, a vice president of design for Crazy 8, a division of Gymboree Group Inc., wasnt prepared for what CEO Shaz Kahng andhuman resources chiefBridget Schickedanz would tell her late on a Wednesday afternoon in mid-January.
They had called Chung in to inform her of an imminent bankruptcy filing, Gymborees second in two years, which would accompany the liquidation of two of the companys three brands, including Crazy 8, which caters to lower-income parents. Chung was ready for that; the closure of Crazy 8 was announced in December, and the bankruptcy was long rumored. But then Schickedanz dropped the bomb.
She said, We had to make some other decisi…
Read the full article at: https://theintercept.com/2019/03/25/gymboree-bankruptcy-severance-scam/