On July 25, the NCLT had sought a clarification from Union Bank of India on the maintainability of the bankruptcy petition against Era and reserved its order.
Still grappling with its towering debt, Valeant Pharmaceuticals International Inc. on Tuesday focused on promoting several new consumer health products that the company hopes will reinvigorate its shrunken cash flows.
Management at the Laval, Quebec-based company have been undergoing a dramatic restructuring of the company following a product pricing scandal, selling billions in assets and tightening its focus on a few select segments of the business.
The corporate makeover has in turn placed pressure on management to provide new consumer products that will generate fresh revenue streams, giving the company space to reduce its debt obligations.
As we think about the future the very clear direction we have is going to be to…
Read the full article at: http://business.financialpost.com/investing/valeant-cuts-revenue-forecast-expects-to-repay-more-than-5-billion-in-debt/wcm/5ed639ae-c698-4e3a-9d81-6fb2f73579f6
If one takes a conventional measure where debt to EBIDTA ratio of more than 4 times represents a stressed company, total loan assets of such firms in India are closer to Rs 30,000 crore, which is 30% of all advances. Nikhil Shah, managing director, India, Alvarez & Marsal, a specialist firm in resolution, discusses with ET journalists the future of banking in relation to bankruptcy. Edited excerpts:
MC Govardhana Rangan: Can the new bankruptcy system change life materially?
There are a few key things in the law that should yield a better outcome than we have had earlier. The law applies to all stakeholders and acts as a forcing mechanism. Once the process is triggered, there is a moratorium for all obligations. All stakeholders come …
Read the full article at: http://economictimes.indiatimes.com/opinion/interviews/the-ib-law-applies-to-all-stakeholders-nikhil-shah-md-india-alvarez-marsal/articleshow/59978215.cms
Above: Gov. John Hickenlooper signs the Veterinary Education Loan Repayment Program on June 5, 2017, as Dr. Lora Bledsoe, Dr. Mark Stetter, Rep. Joann Ginal, Dr. Sam Romano, and Leo Boyle look on. (Photo provided by Richard Schweigert)
A survey of CSU veterinary medicine graduates reveals they tend to stay in the West. (Map by CSU DVM Services)
Signed into law by Gov. John Hickenlooper on June 5, 2017, the Veterinary Education Loan Repayment Program paves the way for veterinarians to work in rural communities where large and small animals, and their owners, need professional services.
Like most accomplishments in rural Colorado, the passage of the bill was the result of hard work by a group of people who care deeply about agricul…
Read the full article at: http://source.colostate.edu/rural-relief-governor-signs-veterinary-debt-assistance-bill/
Human Services Minister Alan Tudge is confident sweeping reforms will pass parliament, banning online gambling sites operating in Australia from offering lines of credit to their customers.
The legislation is expected to pass the Senate on Wednesday.
“Importantly (it) bans the online gambling companies from offering lines of credit to their customers which gets people into so much trouble, having already depleted their savings account,” he told ABC Radio.
Mr Tudge has been campaigning for a crackdown on such lines of credit for years ever since an unemployed man with a whopping gambling debt came into his Victorian electorate office asking for help in early 2011.
The self-confessed problem gambler was offered $80,000 in cred…
Read the full article at: http://www.sbs.com.au/news/article/2017/08/09/online-bookies-face-credit-offer-ban
British American Tobacco tapped investors for at least $15bn on Tuesday in one of the largest corporate bonds deals of the year, as low borrowing costs and a fierce appetite for debt help persuade companies to lever up.
The deal, to help fund the companys $49.4bn acquisition of US rival Reynolds American, followed a spate of bond offerings at the start of this week that pushed corporate debt issuance further ahead of its previous record pace.
Central bank stimulus and quickening economic activity have sharpened the appeal of US debt markets, particularly as swaths of sovereign bonds issued in Europe and Japan trade with a yield below zero.
Inflows to the market have helped push risk premiums towards their lowest level since the fi…
Read the full article at: https://www.ft.com/content/e101b5e2-7c51-11e7-9108-edda0bcbc928
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Abu Dhabi, UAETuesday 8 August 2017
Read the full article at: https://www.thenational.ae/business/money/the-debt-panel-i-owe-dh200-000-on-six-maxed-out-credit-cards-and-two-loans-and-my-salary-is-dh12-000-1.618000
HDFC Banks senior official has cautioned on use of the Insolvency and Bankruptcy Code (IBC) as various banks rush in to file large corporate non-performing loan accounts to the insolvency courts.
“In general, the Code is good and one more resolution mechanism that has timeline around it. However, it should be used with prudence and not everyone should be taken straight to the NCLT proceedings,” said Kaizad Bharucha, wholesale and corporate banking in-charge at the countrys second largest private lender.
However, Bharucha executive director with the bank refused to divulge details on the accounts HDFC Bank has taken to the National Company Law Tribunal (NCLT) under the IBC, which was passed by the Parliament last year t…
Read the full article at: http://www.moneycontrol.com/news/business/companies/insolvency-and-bankruptcy-code-must-be-used-with-prudence-hdfc-bank-senior-official-2354135.html