Raiffeisen Bank International AG wants to boost its ranking among global bond arrangers by opening up debt markets in countries some investors may be hard pushed to pinpoint on an atlas.

With a new hire from Goldman Sachs Group Inc. co-heading its Russian corporate and investment-banking unit, Raiffeisen is positioning for new deals in the former Soviet Union after the Vienna-based lender helped organize this years $500 million bond sale from Tajikistan. Central A…

Read the full article at: https://www.bloomberg.com/news/articles/2017-12-06/goldman-alum-to-help-sell-debt-from-places-you-ve-never-heard-of

Secures an interim finance facility up to Rs 100 cr from ECL Finance

Amtek Auto announced that pursuant to agreement of Committee of Creditors for raising interim finance on 06 October 2017, the Company has entered into an agreement with ECL Finance, a Mumbai based subsidiary of Edelweiss Financial Services and availed interim finance facility up to Rs 100 crore under the Facility Agreement dated 24 November 2017 for the purpose of running the company as a going concern and protecting and preserving the value of the assets of the Company during the insolvency resolution process for benefit of all stakeholders.

Amtek Auto has been admitted into the Corporate Insolvency Resolution Process un…

Read the full article at: http://www.business-standard.com/article/news-cm/amtek-auto-updates-on-corporate-insolvency-resolution-process-117120600160_1.html

Mumbai: In late autumn 2016, Delhi embarked on one of the biggest reforms programmes for India Inc., building a dedicated bankruptcy framework. A year after the courts began the extrication process for potentially ?9 lakh crore stuck in non-performing loans, not one of the 405 cases has breached the nine-month resolution deadline in a country known for its legal labyrinth.

Before time was called in some of the cases, various benches of the National Company Law Tribunal (NCLT) approved revival plans for five bad loans.

Another 14 cases under the Insolvency and Bankruptcy Code (IBC) have been referred for liquidation, with NCLT benches giving their approvals on mothballing the defaulting companies. Until Dec 4, a total of 85 companies …

Read the full article at: https://economictimes.indiatimes.com/markets/stocks/news/one-year-on-code-at-work-at-unusual-pace/articleshow/61940816.cms

Overdrawn is a way of life for more than two million people in the UK.

That means every single month their bank takes money from them in interest and charges that they could be using to pay for essentials like rent, food and heating.

That’s according to StepChange Debt Charity, which found evidence of unaffordable lending in the overdraft market where banks have failed to offer their customers a means to deal with overdraft debt – even when customers have made it clear they are in financial difficulty.

Overdrafts are one of the most common credit products used in the UK,” said Peter Tutton, head of policy at StepChange Debt Charity.

“They are meant to be short-term, but our evidence shows that they can all too easily trap people in …

Read the full article at: http://www.mirror.co.uk/money/millions-trapped-debt-spiral-overdrafts-11645198

TWO years after starting liquidation proceedings, the future is still unclear for creditors of a 60-year-old family-owned Toowoomba company.

TFD Joinery Works ceased trading in September of 2015, but with all tangible assets sold, creditors are now waiting on court action to determine whether they will see any returns.

Some may not even see a penny.

“The liquidation is continuing while investigations are conducted into a potential claim against a related party arising from a loan account owed to the company,” liquidator Adam Francis of Worrells Toowoomba said.

“This claim has required the assistance of court to examine the affairs of the company, through those involved and its records to assist in eliciting the…

Read the full article at: https://www.thechronicle.com.au/news/creditors-second-generation-toowoomba-company-limb/3283486/

THE likely new owner of Cook Colliery mine promises to be “very different” to the now liquidated company which was at the helm when more than 100 people lost their jobs.

Bounty Mining expects the sale of the formerly Gaungdog Rising Asset Management-owned mine to settle this week after more than three months of hurdles.

With plans to reopen it by early next year, chairman and chief executive Gary Cochrane said Bounty Mining would initially need 50 workers, but that would increase to about 200 within 10 months of operation.

Mr Cochrane said the company had helped businesses that were involved in work at the coal mine before it was placed in care and maintenance in March.

“There were a lot of people laid off and …

Read the full article at: https://www.gladstoneobserver.com.au/news/very-different-200-mine-jobs-as-new-owner-preps/3283073/

Financial advisors don’t always agree, but when it comes to lending money to family, there’s consensus: Tread carefully.

If an adult child needs help buying a first home or has a promising business idea, a family loan can be a fast and convenient option. But there’s a risk of drama down the road.

Here are tips for lending and borrowing money among relatives.

Pros and cons of family loans

There are advantages of a family loan for a borrower: no credit check, low or no interest and flexible payback terms.

It can also be a way to help young adults learn about financial responsibility, says Walter Pressey, a retired financial industry executive in Boston who loaned money to two of his four adult children with …

Read the full article at: http://www.nasdaq.com/article/family-loans-how-to-dodge-the-drama-cm887031

Banks and other lenders must be breathing a sigh of relief, and celebrating an early “Christmas gift” from the Supreme Court of Appeal.

The gift was delivered in Diener NO v Minister of Justice (926/2016) [2017] ZASCA 180 (1 December 2017).

Two of the questions before the court were: whether or not a business rescue practitioner enjoys “super-preference” over all secured and unsecured creditors in respect of the practitioners fees and expenses in the event that a company, that was in business rescue, goes into liquidation; and whether or not the practitioner must prove a claim in the estate of the company which has subsequently gone into liquidation.

The company in question was in busi…

Read the full article at: https://www.businesslive.co.za/bd/companies/2017-12-05-analysis-banks-get-an-early-christmas-gift-in-ruling-on-business-rescue/

KUALA LUMPUR: Only two out of the 2.8 million borrowers of the National Higher Education Fund Corporation (PTPTN) loans declared bankrupt since the establishment of the institution in 1997.

Its chairman, Datuk Dr Shamsul Anuar Nasarah, said the bankruptcy declarations had to be made after the borrowers failed to comply with the court decisions.

Shamsul Anuar, who is also Umno Welfare Bureau chairman, said this fact had refuted the allegation made by some quarters, especially the opposition, that the PTPTN was a cruel institution because it had strong tendency to declare its …

Read the full article at: http://www.thesundaily.my/news/2017/12/05/only-two-out-28m-ptptn-borrowers-declared-bankrupt-1997