Published: December 29, 2017 5:26 pm
Shiv Pratap Shukla was replying to a question if the government has taken note on nation-wide strike by bank employees against various moves, including increase in bank charges, merger of banks and waiver of corporate loans.
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The government on Friday said it has no plans to waive corporate loan and banks are advised to resolve stressed accounts speedily or start insolvency proceedings case by case. No proposal for waiver of corporate loan is under consideration of the government, Minister of St…
Read the full article at: http://indianexpress.com/article/india/no-plans-to-waive-corporate-loans-banks-should-resolve-stressed-accounts-or-start-insolvency-proceedings-govt-5003874/
Shadow debt broadly refers to a type of wealth management products (WMPs) that are sold off the books to Chinas swelling middle-class as they look for risk-free savings options preferable to the gambling culture of the stock market while offering superior returns when compared to the savings rates offered by banks.
Savers are usually offered terms of around 10 per cent for investments around £500,000 by private wealth manager at the bank.
These financial instruments have ballooned into a $18.5trillion market and include everything from investments in commercial property to a small business or a corporate bond.
But this snake-oil market of invisible investments is only made possible by a willing customer base still navel-gazing over their r…
Read the full article at: https://www.express.co.uk/finance/city/897894/Chinese-shadow-debt-an-18-5-TRILLION-market-which-could-COLLAPSE-the-banking-system
In the event that the debt becomes significant, the bank or financial institution may bring Court proceedings against you to recover the debt. The bank normally brings two types of proceedings:
1) Debt Claim
2) Possession
The former is where banks seek to recover the amount due to them and the latter is where they are seeking an Order for Possession of the mortgaged property with a view to selling the property.
It is advisable to deal at early stage and approach an accountant, financial advisor, or a personal insolvency practitioner to advise you with a view to putting a proposal to the bank.
The State has a service called MABs (Money Advice and Budgeting Service) which can assist here too. They will advi…
Read the full article at: https://www.independent.ie/business/farming/legal-advice/six-months-after-getting-a-loan-for-a-tractor-and-shed-i-lost-my-job-what-can-i-do-36370276.html
BusinessToday.in New Delhi Last Updated: December 29, 2017 | 18:37 IST The Lok Sabha approved the Insolvency and Bankruptcy (Amendments) Bill, 2017 on Friday that bars wilful defaulters and promoters from bidding for companies awaiting insolvency resolution. This is to plug the loopholes in the resolution process and by being selective about who can participate in it.
Tabled before the lower house of Parliament yesterday, the Bill was passed after a reply from the Finance Minister Arun Jaitley. The Bill will replace an ordinance that was introduced in November this year.
The latest amendments are meant to punish defaulters as well as make the insolvency resolution process more efficient. Some, of the stricter provisions of the earl…
Read the full article at: http://www.businesstoday.in/current/economy-politics/lok-sabha-passes-insolvency-and-bankruptcy-amendment-bill-prohibit-defaulters-promoters-bidding-process/story/267011.html
On Dec 29, we issued an updated research report on KBR, Inc. KBR .
Inside Story
Over the last month, shares of this Zacks Rank #2 (Buy) company yielded a return of 7.2%, outperforming 3.1% growth recorded by the industry .
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KBR is poised to boost its competency on the back of the company’s diverse business portfolio. The company expands operations in various business streams such as government services work, technology and consulting.
Currently, KBR is banking on the strength of its Government Services businesses to optimize the growth potential. During the third quarter of 2017, this segment recorded phenomenal growth, driven by the acquisition of Honeywell Government Services Provider (‘HTSI’) as well as…
Read the full article at: http://www.nasdaq.com/article/kbr-poised-to-grow-on-business-diversification-buyouts-cm898301
Dalian Wanda Group Co.s struggling Internet business is restructuring, the units President Qu Dejun said on a personal social-media account, after the state news organization The Paper reported the company would cut more than 1,000 jobs.
The closely held Internet group within billionaire Wang Jianlins real-estate-to-entertainment conglomerate is undergoing a partial restructuring for better, faster and healthier development, Qu said in the wechat post. Wanda Internet Technology Group declined to comment on the workforce reduction report.
The job cuts come after Wandas fledgling digital operation, which has aimed to develop an e-commerce model that works with brick-and-mortar retailers, delayed a $1.5 billion fundraising in Se…
Read the full article at: https://www.bloomberg.com/news/articles/2017-12-29/wanda-internet-business-restructures-operations-president-says
My husband and I got married when we were young 22 and 25, respectively and we both came into our marriage with debt. We both grew up in households where our parents had joint checking accounts, so we followed suit and combined what little we had and that was that.
We worked together for several years to pay off credit card debt, and now were trying to pay off our student loans together. It never crossed my mind to not help him pay off his student loan debt. It also never crossed his mind to ask me to pay my own student loans off by myself.
That said, many people today get married later in life after theyve worked for several years, started their own careers, and more. Many couples also like having their own individual bank account…
Read the full article at: https://www.quickenloans.com/blog/help-new-spouse-pay-off-debt
Nagpur: The Insolvency and Bankruptcy Board of India (IBBI) will be soon coming up with figures of total defaults by companies. This will include claims put up by creditors who have not initiated proceedings against an entity at the National Company Law Tribunal (NCLT).
This could take the figure beyond the Rs1.30 lakh crore of default calculated at present for 500 companies going through various proceedings. Other creditors can join the insolvency proceedings along with the original petitioner. This can increase the amount of total default, which will be revealed soon, said MS Sahoo, chairman of IBBI.
A number of Nagpur-based companies too are undergoing insolvency proceedings, including entities under Gupta Group, Abhij…
Read the full article at: https://timesofindia.indiatimes.com/city/nagpur/insolvency-board-to-reveal-real-default-figures-soon/articleshow/62297614.cms
DENVER, Dec. 29, 2017 /PRNewswire/ — Birner Dental Management Services, Inc. (OTCQX: BDMS), business services provider of PERFECT TEETH® dental practices, announced today that the Company completed a private placement of $5 million of convertible senior subordinated secured notes and attached shares of Series A Convertible Preferred Stock with Palm Active Dental, LLC and Palm Global Small Cap Master Fund LP (the “Palm Investors”). A portion of the proceeds from the private placement were used to recapitalize its existing debt obligations, including the repayment of approximately $1.5 million under its credit facility with Guaranty Bank and Trust Company (the “Bank”). In addition, the Bank waived all outstanding defaults un…
Read the full article at: http://markets.businessinsider.com/news/stocks/Birner-Dental-Management-Services-Inc-Announces-Successful-Capital-Raise-Debt-Restructuring-And-Changes-To-Board-Of-Directors-1012309226
NEW DELHI: The government today said it has no plans to waive corporate loan and banks are advised to resolve stressed accounts speedily or start insolvency proceedings case by case.
“No proposal for waiver of corporate loan is under consideration of the government,” Minister of State for Finance Shiv Pratap Shukla said in a written reply to the Lok Sabha.
He was replying to a question if the government has taken note on nation-wide strike by bank employees against various moves, including increase in bank charges, merger of banks and waiver of corporate loans.
Referring to the data from National Company Law Tribunal (NCLT), the minister said 2,434 fresh cases have been filed before NCLT till November 30, 2017 and 2,304 …
Read the full article at: https://economictimes.indiatimes.com/news/company/corporate-trends/no-plans-to-waive-corporate-loans-says-minister/articleshow/62295481.cms
Both Houses of parliament began their day on a smooth note with Lok Sabha taking up Questions and Rajya Sabha with Zero Hour.
While Lok Sabha is expected to take up The National Medical Commission Bill, 2017, The Insolvency and Bankruptcy Code (Amendment) Bill, 2017, among others, while Rajya Sabha is likely to take up Private Members’ Bills.
Live updates:
Lok Sabha | 12:25 pm
Gourav Gogoi suggests eviction drive should not be done during Winter. He says people evicted in Assam forests must be adequately compensated.
Lok Sabha | 12:20 pm
‘Kamla Mills compound flouted norms’
Health Minister introduces the National Medical Commission Bill, 2017.
Lok Sabha proceeds with Zero Hour. Kirit Somaiyya, a Mumbai MP, raises the Kamla Mills compo…
Read the full article at: http://www.thehindu.com/news/national/live-updates-of-day-nine-of-parliament-winter-session/article22324285.ece