Noble Group Ltd won approval from shareholders on Monday for a $3.5 billion debt restructuring plan that should ensure the survival of what was once Asia’s biggest commodity trader, Reuters reported. Faced with the prospect of the company’s insolvency, shareholders reluctantly backed a debt-for-equity swap that will leave them owning just 20 percent of the business, while handing majority control to a group of creditors comprised mainly of hedge funds.

Formula One owner Liberty Media could be left with an unexpected bill of $67.3 million driven by a dispute over the recent rescue of the Force India racing team. Force India crashed into administration, the British equivalent of Chapter 11 bankruptcy, at the end of July after its owners got into financial difficulty, Forbes reported. Last week the team’s assets were sold to a new vehicle called Racing Point which is led by Lawrence Stroll, the tycoon who helped to develop the Tommy Hilfiger fashion brand.

Insolvency practitioners could face fines of up to $75,000 if they don't report serious issues in failed businesses, if proposed legislative amendments go ahead, Radio New Zealand reported. The penalties were one idea floated in a Supplementary Order Paper on the proposed amendments to the Insolvency Practitioners Bill. The legislation aimed to get rid of errant behaviour by so-called friendly liquidators, administrators and receivers who did not give all creditors a fair go. Submissions on the bill close on Friday.

Nearly 80 large borrowers, with at least Rs 2000 crore of outstanding loans each, are likely to be impacted by the Reserve Bank of India's February 12 circular on non-performing loans unless they implement a resolution plan before the August 27 deadline, sources told CNBC-TV18. According to the central bank's revised framework for the resolution of stressed assets, now popularly referred to as the February 12 circular, banks were given 180 days to resolve defaulting accounts of over Rs 2,000 crore, CNBC-TV18 reported.

Singapore-listed Noble Group Ltd faces a make-or-break shareholders’ meeting on Monday as investors vote on a $3.5 billion debt restructuring plan that its creditors and board say is vital to prevent insolvency, Reuters reported. The company, once a global commodity trader with ambitions to rival Glencore or Vitol, has shrunk to an Asian-centric business focused on coal and freight trading after it slashed hundreds of jobs and sold prized assets to cut debt.

China is tightening its clampdown on cryptocurrencies, nearly a year after the government imposed a wide-ranging ban on local exchanges and fundraising for digital currencies, The Wall Street Journal reported. Financial officials in an eastern district of Beijing issued a notice last week to stores, hotels and offices urging them not to host any cryptocurrency-related speeches, events or activities.

U.S. officials seem to think they have the upper hand in trade talks with China because its economy is struggling. Judging by the string of measures they’ve recently announced to shore up growth, Chinese officials may privately agree. The trouble is, such measures aren’t going to work as fast or as well as markets seem to think they will. China’s growth woes are homegrown, not the result of U.S. tariffs, a Bloomberg View reported.

Force India mechanics were preparing their cars for the Belgian Grand Prix on Thursday despite lingering uncertainty about the Formula One team’s eligibility to race after a change of ownership, Reuters reported. The pink and white trucks and hospitality unit had no Force India branding, with the official team name appearing only over the garage on signs put up by Spa circuit organisers.

India’s Ambani brothers have completed the first part of a long pending multibillion-dollar telecom transaction, after months of uncertainty amid insolvency action against the stricken Reliance Communications, the Financial Times reported. RCom, controlled by Anil Ambani, said on Thursday that it had completed the sale of telecom infrastructure worth Rs20bn ($285m) to Reliance Jio, led by Mr Ambani’s older brother Mukesh.

As China’s economy slows and the trade war with the United States intensifies, Beijing’s economic bosses are swinging into action, the International New York Times reported. Chinese officials are pushing banks to lend more and allowing indebted local governments to spend money on big projects again. They have moved to shore up the value of the country’s currency. They have also helped out the stock market, say financial analysts, as the government works to avert a stock market collapse like the one three years ago that shook the world.