Insolvency Guardian Media Centre
In addition to liquidation and asset realization services, SB360 provides financing solutions for mid-market companies, and advisory services for retail and wholesale businesses and lenders. Other business units of SB360 focus on real estate advisory and commercial real estate investments, as well as operating SBC Logistics’ Asset Recovery Center in Columbus, Ohio.
SB360 operates from offices in New York, Boston, Columbus, and Los Angeles. The Company is managed by Scott Bernstein and Stephen G. Miller. Mr. Bernstein was President of SB Capital Group, and Mr. Miller was President and CEO of 360 Merchant Solutions. SB360 is privileg…
Read the full article at: https://www.prnewswire.com/news-releases/sb360-capital-partners-unveil-new-liquidation-and-asset-realization-platform-300630285.html
April 16 (Reuters) – Alok Industries Ltd:
* SAYS APPLICATION HAS BEEN PREFERRED BY RESOLUTION PROFESSIONAL FOR LIQUIDATION OF COMPANY
* ALOK INDUSTRIES SAYS APPLICATION FILED WITH NATIONAL COMPANY LAW TRIBUNAL AT AHMEDABAD ON APRIL 16 Source text for Eikon: bit.ly/2H4u1NG Further company coverage: (Mumbai newsroom)
Read the full article at: https://uk.reuters.com/article/brief-indias-alok-industries-says-applic/brief-indias-alok-industries-says-application-filed-with-nclt-for-liquidation-of-co-idUKL3N1RT4WU
Any debt-relief measures for Greece will be discussed only after Athens presents a credible program that focuses on growth, German Finance Minister Olaf Scholz has said.
The German finance minister, interviewed in Sundays Frankfurter Allgemeine Zeitung, said Berlins position and the position of his predecessor, Wolfgang Schaeuble was that any Greek debt easing must be connected to reforms.
Scholz said that before any debt talks, Greece must meet all bailout prerequisites by the summer.
At the same time, Scholz said that since Germany has a stable economy, it can help countries with fiscal problems, underlining that the eurozone should not give these states the wrong incentives.
Every decision sh…
Read the full article at: http://greece.greekreporter.com/2018/04/16/german-finance-minister-greek-debt-relief-must-be-tied-to-growth-plan/
New Delhi: The Insolvency and Bankruptcy Code (IBC) introduced by the Narendra Modi government in December 2016 to fix the banking sectors bad loans problem has over the last 16 months been a mixed bag, with borrowers and disgruntled bidders increasingly exploiting vagueness in some key provisions of the code to stall bankruptcy proceedings.
The financial bidding process was expected to be wrapped up by the end of January 2018 for 12 large corporate loan accounts referred by the lenders to the National Company Law Tribunal (NCLT) following the Reserve Banks of Indias (RBI) directive last year. These companies together account for Rs 1.75 lakh crore of bad loans.
However, bankruptcy proceedings continue to drag on in several cases beyon…
Read the full article at: https://thewire.in/banking/a-year-later-the-insolvency-and-bankruptcy-code-is-still-work-in-progress
Thousands of Australian Toys R Us workers appear likely to have their jobs saved through a deal to merge the bankrupt retailer’s local operations with its Asian business and sell them to a new owner.
The toy giant’s 45 local stores and about 2700 employees have been under a cloud for the past month after the chain announced it would wind-down its business in the United States.
Toys R Us said on March 15 it would close all 735 of its stores in the US, where it is headquartered, after going bankrupt in September and failing to restructure billions of dollars of debt.
It is also shuttering its 75 stores in Britain, but working with glob…
Read the full article at: http://www.canberratimes.com.au/business/retail/toys-r-us-australia-stores-likely-to-be-saved-through-asia-play-20180416-p4z9w7.html
The transaction is intended to maximize value for all stakeholders through a fair, open Bankruptcy Court-approved sale process in which Bertucci’s will consider all bids for a sale or restructuring of the company. As part of the bankruptcy filing, Bertucci’s has sought Bankruptcy Court approval for the consensual use of cash collateral and $4 million in debtor-in-possession financing which will allow the company to meet its post-filing obligations in the ordinary course of business for customers, employees, trading partners, suppliers, vendors, and other creditors.
“Today’s filing is expected to be seamless for Bertucci’s guests…
Read the full article at: https://www.prnewswire.com/news-releases/bertuccis-files-for-chapter-11-restructuring-for-future-growth-300630113.html
By Kemo Cham
Freetown Sierra Leone’s new President Julius Maada Bio has appealed for international help to bail his country out of an economic crisis.
He blames the crisis on a huge debt incurred by his predecessor Ernest Bai Koroma and an underperforming economy.
President Bio told an International Monetary Fund (IMF) meeting in Freetown that he inherited a country with the worst economic state since independence in 1961, a situation, he said, had been worsened by agreements signed by his predecessor on the eve of this year’s General Election.
Development partners
“Initial assessment by the Governance Transition Team reveals that my administration will be faced with the worst economic situation since indep…
Read the full article at: https://allafrica.com/stories/201804160144.html
Alok Industries Ltd has informed BSE that the Corporate Insolvency Resolution Process for the Company expired on April 14, 2018 and the Resolution Professional has not received the approval of the Committee of Creditors for Resolution Plans within the time period prescribed under the Insolvency and Bankruptcy Code, 2016.
Pdf Link:
Updates on Corporate Insolvency Resolution Process
Source : BSE – www.bseindia.com
Published on
April 16, 2018
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Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/updates-on-corporate-insolvency-resolution-process/article23553789.ece
SINGAPORE (Reuters) – Noble Group (NOBG.SI) improved the terms of its controversial $3.4 billion debt restructuring deal and won the support of its biggest shareholder as the commodity trader seeks to complete the vital transaction.
Singapore-listed Nobles debt-for-equity swap has already won the backing of more than 83 percent of the holders of its senior debt but it also needs a majority of its shareholders to approve the restructuring.
The revised structure granting shareholders 15 percent equity in New Noble has my full support, Noble founder Richard Elman said in Nobles statement on Monday. Elman resign…
Read the full article at: https://www.reuters.com/article/us-noble-group-debt/noble-group-sweetens-debt-restructuring-deal-gets-founders-backing-idUSKBN1HN0Y8
SINGAPORE (Reuters) – Noble Group (NOBG.SI) improved the terms of its controversial $3.4 billion debt restructuring deal and won the support of its biggest shareholder as the commodity trader seeks to complete the vital transaction.
Singapore-listed Nobles debt-for-equity swap has already won the backing of more than 83 percent of the holders of its senior debt but it also needs a majority of its shareholders to approve the restructuring.
The revised structure granting shareholders 15 percent equity in New Noble has my full support, Noble founder Richard Elman said in Nobles statement on Monday. Elman resign…
Read the full article at: https://www.reuters.com/article/us-noble-group-debt/noble-group-changes-debt-restructuring-deal-gets-founders-backing-idUSKBN1HN0Y8
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When examining your personal finances and noticing things arent quite as tidy as you thought, considering some sort of debt relief might be the next logical step toward getting into a better financial position.
People considering debt relief who are looking for reviews from others experiences can feel …
Read the full article at: https://born2invest.com/articles/find-debt-relief-cutting-mixed-customer-reviews/
Canadians Increasingly Feeling the Impact of Higher Interest Rates
The MNP Consumer Debt Index is now at an all-time low, dropping four points since December.
MNP Ltd.
CALGARY, Alberta, April 16, 2018 (GLOBE NEWSWIRE) — The latest MNP Consumer Debt Index research foreshadows trouble ahead for indebted Canadians underlining widespread concern over rising interest rates. A growing number (43%) of Canadians say they are already feeling the effects of higher interest rates (u…
Read the full article at: https://globenewswire.com/news-release/2018/04/16/1471798/0/en/Latest-MNP-Consumer-Debt-Index-foreshadows-trouble-ahead-for-indebted-Canadians.html