The parent company of Malaysia Airlines said on Thursday it was nearing the end of a debt restructuring process which it hopes will be completed by the end of the first quarter of this year, Reuters reported. Malaysia Aviation Group (MAG) said it was in talks with around 40 creditors and lessors to take a haircut in its 16-billion-ringgit ($3.99 billion) debt restructuring plan, adding it was confident it could achieve a “win-win” result for all.

The New York Stock Exchange said on Wednesday that it will delist three Chinese telecom companies, confirming its latest reversal on the matter a day after U.S. Treasury Secretary Steve Mnuchin told the NYSE chief he disagreed with an earlier decision to reverse the delistings, Reuters reported. The latest move, which is effective Jan. 11, marks the third time in less than a week the Big Board has ruled on the matter. The flip-flopping highlights the confusion over which firms were included in an executive order issued by President Donald Trump in November barring U.S.

Digital services taxes adopted by India, Italy and Turkey discriminate against U.S. companies and are inconsistent with international tax principles, the U.S. Trade Representative’s office said on Wednesday, paving the way for potential retaliatory tariffs, Reuters reported.

North Korea’s leader, Kim Jong-un, admitted on Tuesday that his efforts to rebuild the country’s moribund economy have failed, as he opened his country’s biggest political event amid deepening economic trouble caused by the one-two punch of international sanctions and the coronavirus pandemic, the New York Times reported. “Our five-year economic development plan has fallen greatly short of its goals in almost all sectors,” Mr. Kim said in his opening speech to the ruling Workers’ Party’s eighth congress that began in Pyongyang, the capital, on Tuesday. Mr.

Australian businesses are bracing for a wave of insolvency when JobKeeper payments end in three months after changes to bankruptcy laws were initiated at the start of the year and border closures continue to impact employers, SkyNews.com reported. The federal government temporarily changed bankruptcy legislation at the peak of the coronanvirus outbreak to help employers make it through the pandemic. Creditors will be allowed to apply for a bankruptcy notice against a business when outstanding debts reach $10,000 since the safe rules have now ended.

While many have celebrated the start of the New Year filled with hope, one expert believes that 2021 will be difficult for directors, officers, and their advisers due to a projected increase in insolvency claims against them, Insurance Business Magazine reported. “The view from specialists across our network is that while legislative measures… have offered some protection to directors of companies facing financial difficulties, insolvency claims will be a strong driver of D&O risk in 2021,” said Simon Konsta, partner at Clyde & Co. London.

Indian courts may rule in coming months on cases involving billions of dollars in distressed assets, and the decisions could clarify what roles banks play in helping companies devastated by the pandemic, Bloomberg News reported. What may be among the first of the verdicts could also be one of the most important: the Supreme Court may decide within weeks on requests by big borrowers seeking relief on repayments and defaults, in what’s being called the loan moratorium case.