Insolvency Guardian Media Centre

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.
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Viceroy Hotels: IRP invites expression of interest for resolution plan – Business Line
The insolvency resolution professional (IRP) has invited an expression of interest to submit resolution plan for the hospitality chain Viceroy
Elliott Wins Allies in Blocking Hyundai Motor’s Revamp Plan – Bloomberg
Two influential proxy advisory firms have thrown their support behind Elliott Management Corp.s opposition of an $8.8 billion deal between
Litigation funder lines up London listing – Australasian Lawyer
A litigation funder based in the UK is pondering listing on the London Stock Exchange. Manolete Partners founder and CEO
How digital technology is helping consumers tackle rising debt – Information Age
Those who cannot manage their money correctly will find that it rapidly becomes challenging to keep a healthy bank balance
Crowdfunding, volunteering, trivia and other unexpected ways to wipe out your student debt – CNBC
Currently, just 4 percent of employers offer student debt assistance. But that's changing as more employers come to realize education
Ericsson Wins Plea to Push Ambani’s RCom Into Insolvency – Bloomberg
An Indian tribunal ordered billionaire Anil Ambanis Reliance Communications Ltd. be placed under insolvency proceedings, jeopardizing the phone companys proposed
Viceroy Hotels: Interim resolution professional invites EoI for resolution plan – Business Line
The interim resolution professional (IRP) has invited Expression of Interest to submit resolution plan for the hospitality chain Viceroy Hotels
ArcelorMittal Pays Rs 7000 Crore To Be Eligible For Essar Steel Bid – BloombergQuint
ArcelorMittal has transferred Rs 7,000 crore to an escrow account controlled by State Bank of India to become eligible to
Insurance company Alpha goes bust – leaving thousands with no cover – Coventry Live
Drivers in their thousands have been left without insurance cover after insurance firm Alpha announced it had gone bust. The
Neuralstem Provides Business Update and Reports First Quarter 2018 Fiscal Results – GlobeNewswire (press release)
GERMANTOWN, Md., May 15, 2018 (GLOBE NEWSWIRE) -- Neuralstem, Inc. (Nasdaq:CUR), a biopharmaceutical company focused on the development of nervous
Absa exec – who earned R26 million last year – probably quit over strategy disagreement, says an analyst – Business...
Outgoing deputy CE of Absa, David Hodnett. Photo: BarclaysThe deputy head of Absa has resigned midway through a two-month sabbatical.David
Cannes Film Review: ‘Treat Me Like Fire’ – Variety
His name is Abel, and hes played by Tahar Rahim (A Prophet), exuding twinkling, dirty, stubbled charisma. Hes an incorrigible

The insolvency resolution professional (IRP) has invited an expression of interest to submit resolution plan for the hospitality chain Viceroy Hotels Ltd.

Karuchola Koteswara Rao, the IRP appointed by the National Company Law Tribunal, has informed about the move to invite resolution plan from potential applicants.

The Hyderabad-based hospitality chain was brought under the Corporate Insolvency Resolution Process by the NCLT, Hyderabad, on March 12.

While providing details of the modalities to submit the resolution plan, the IRP has set May 29 as the last date for receiving the expression of interest for the resolution plan.

The NCLT had initiated a corporate insolvency resolution process against Viceroy Hotels and appointed KK Rao as the …

Read the full article at: https://www.thehindubusinessline.com/news/viceroy-hotels-irp-invites-expression-of-interest-for-resolution-plan/article23895743.ece

Two influential proxy advisory firms have thrown their support behind Elliott Management Corp.s opposition of an $8.8 billion deal between two Hyundai Motor Group units, signaling more hurdles for an overhaul that may help the founding familys patriarch pass control of the South Korean conglomerate to his son.

Glass Lewis & Co. and Institutional Shareholder Services Inc. have come out against the restructuring plan, which calls for the automotive giant to sell some of its businesses to affiliate Hyundai Glovis Co. ISS said in a report Tuesday that although the transactions are compliant with South Korean laws, the deal appears to be unfavorable for Hyundai Mobis Co. shareholders. Both advisers urged investors in the parts ma…

Read the full article at: https://www.bloomberg.com/news/articles/2018-05-14/glass-lewis-says-hyundai-restructuring-plan-lacks-business-logic

A litigation funder based in the UK is pondering listing on the London Stock Exchange.

Manolete Partners founder and CEO Steven Cooklin has confirmed to The Law Society Gazette that the company is looking very seriously at a float on the bourse. Though official financial details have not been released, other reports say the listing could value Manolete at about £100m.

The demand for our capital from liquidators of UK and international companies is at record levels, and we do not foresee a slow down any time soon. This is great news for the creditors who have suffered, because the large majority of our recoveries go back to them via the normal insolvency procedure, Cooklin said.

Litigation fund…

Read the full article at: https://www.australasianlawyer.com.au/news/litigation-funder-lines-up-london-listing-249944.aspx

consumer debt

Those who cannot manage their money correctly will find that it rapidly becomes challenging to keep a healthy bank balance and also an organised financial life.

With the issue of consumer debt comes the notable differences in attitude between generations. Generation X and the Baby Boomers are amongst some of the most likely to have savings and a clear plan for the future due to their influences as young adults. For millennials and the upcoming Gen Z age groups, this has clearly been a different path. Research shows that many 18-24 years old worry about debt and have no savings or plans in place for future financial security. From 25-35 years, the concern of buying a home, managing debt and planning for retir…

Read the full article at: http://www.information-age.com/digital-technology-rising-consumer-debt-123471962/

Currently, just 4 percent of employers offer student debt assistance. But that’s changing as more employers come to realize education debt is a problem for many of their workers, said Katie Berliner, account executive at YouDecide, a benefits firm.

“In order to attract and retain talent, employers are looking at offering contributions to people’s student loans,” Berliner said.

Companies that have offered their employees help with their student loans include Aetna, Penguin Random House, Nvidia and Staples.

Fidelity announced recentl…

Read the full article at: https://www.cnbc.com/2018/05/15/crowdfunding-volunteering-trivia–and-other-unexpected-ways-to-wipe-out-your-student-debt.html

An Indian tribunal ordered billionaire Anil Ambanis Reliance Communications Ltd. be placed under insolvency proceedings, jeopardizing the phone companys proposed $3.7 billion asset sale to Reliance Jio Infocomm Ltd.