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Billionaire Seeks Waiver to Bid for India Hotel Ivanka Stayed In

Billionaire banker Uday Kotak’s stressed asset investment unit is asking India’s bankruptcy regulator to ensure that potential buyers of insolvent companies aren’t made to provide non-refundable deposits in exchange for financial information during the s ...

Daily Headline - global.abi.org - 06/20/2018 - 23:18 - 0 comments

Chinese Equity Selloff Abates as Authorities Call for Calm

Declines in Chinese stocks and the yuan came to a halt as the government stepped up efforts to limit trade tension fallout, Bloomberg News reported. The Shanghai Composite Index rose 0.3 percent on ... tension fallout, Bloomberg News reported. The Shanghai Composite Index rose 0.3 percent on Wednesday, ...

Daily Headline - global.abi.org - 06/20/2018 - 23:19 - 0 comments

Payments Crunch Pushes Indian Power Producers to Brink of Default

Soon after succeeding his brother at the helm of Indian construction group Lanco, L Madhusudhan Rao spotted an opportunity that looked too good to miss. India’s 2003 Electricity Act was a landmark in the liberalising reform drive that began a decade befo ...

Daily Headline - global.abi.org - 06/20/2018 - 23:23 - 0 comments

Trade Fight With U.S. Complicates China’s Campaign to Contain Debt

A bruising trade fight with the U.S. lands at a difficult time for China as its economy contends with rising headwinds, constraining Chinese President Xi Jinping’s options, The Wall Street Journal reported. While Chinese officials have been bracing f ...

Daily Headline - global.abi.org - 06/19/2018 - 21:59 - 0 comments

How Homebuyers Can Protect Their Financial Interest Under Insolvency and Bankruptcy Code

There have been high-profile insolvencies of many real estate and housing development companies across the country, ZeeBiz reported. Scores of homebuyers, particularly in NCR, have some relief as now they will be treated as financial creditors. Homebuyer ...

Daily Headline - global.abi.org - 06/19/2018 - 22:00 - 0 comments

China Rout Has 1,023 Stocks Plunging 10% in One Day

more than one in four. Greasing the losses was the Shanghai Composite Index’s slide below 3,000, a ...

Daily Headline - global.abi.org - 06/19/2018 - 22:00 - 0 comments

Brazil, India Corporate Debt Most Vulnerable to Rate Hikes

A 200 basis-point increase in interest rates could spark a sharp rise in the proportion of emerging market corporate debt issues at risk of default, with Brazilian and Indian firms most vulnerable, a report from McKinsey Global Institute showed. Followin ...

Daily Headline - global.abi.org - 06/18/2018 - 21:21 - 0 comments

Noble Group Halts Shares as Restructuring Deal Hangs in Balance

Noble Group Ltd. suspended its shares in Singapore on Monday pending an announcement, as efforts to get shareholder agreement on its controversial $3.5 billion debt restructuring plan drag on longer ... efforts to get shareholder agreement on its controversial $3.5 billion debt restructuring plan drag on ...

Daily Headline - global.abi.org - 06/18/2018 - 21:22 - 0 comments

Adhunik Metaliks: NCLT Allows 20 More Days to Complete Insolvency Process

Bankrupt Adhunik Metaliks has received an additional 20 days to complete the ongoing insolvency resolution process, the Financial Express reported. The Kolkata bench of the National Company Law Tribunal (NCLT) on Friday ordered exclusion of 20 days f ...

Daily Headline - global.abi.org - 06/17/2018 - 21:03 - 0 comments

IBC: Judicial Member Takes On Modi Government’s Insolvency Ordinance

MK Shrawat, a judicial member of the National Company Law Tribunal, Mumbai bench has permitted a promoter of an insolvent company to do what the amended Insolvency and Bankruptcy Code, 2016 explicitly disallows, Bloomberg Quint reported. Were his ruling ...

Daily Headline - global.abi.org - 06/17/2018 - 21:11 - 0 comments

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