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Mt Gox has issued notice stating that the deadline for the Selection and Registration has expired, and now, the rehabilitation creditors cannot make changes without the approval of the Rehabilitation Trustee, beincrypto.com reported. The deadlines were extended multiple times, first to Mar. 10 and then eventually to Apr. 6, 2023. The Trustee will work towards making the Base, Intermediate, and Early Lump-Sum repayments by Oct. 31, 2023. However, the notice reads that the deadline might get extended due to various circumstances with the permission of the Tokyo District Court.
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Lenders of debt-ridden Reliance Capital (RCap) may consider extending the deadline for completing the resolution process till May 30 this year, the Economic Times reported. The current deadline ends on April 16. Considering the fact that the second round of auctions is yet to take place, it is not possible to wrap up the resolution process within the current deadline. Earlier this week, lenders postponed the second auction to April 11. The deadline to complete the resolution process of RCap has been extended multiple times in the past.
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UBS's multi-billion state-sponsored takeover of Credit Suisse should proceed smoothly without political obstructions, Swiss Finance Minister Karin Keller-Sutter said in an interview published on Saturday, Reuters reported. The Swiss parliament is due to hold an extraordinary session this week to discuss the emergency merger engineered by the Swiss authorities after Credit Suisse came close to collapse.
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Most global central banks may be either close to a peak or already done with interest-rate hiking, auguring a hiatus before possible monetary loosening comes into view, Bloomberg News reported. With the first signs of dents in economic growth now visible, and fallout from financial-market tensions lingering, any pause by the Federal Reserve after at least one more increase in May could cement a turn in what has been the most aggressive global tightening cycle seen in decades.
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Philippine central bank Governor Felipe Medalla has signaled that pausing from policy rate increases may be an option when the monetary board meets in May, after inflation eased last month, Bloomberg News reported. Medalla, in a mobile-phone message late Saturday, said Bangko Sentral ng Pilipinas could pause on rate hikes if April’s month-on-month inflation “is low, like February and March.” The central bank chief earlier said that it may be “too early” to keep the policy rate unchanged in the next meeting unless prices fall.
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Argentina's state oil company YPF has agreed to pay nearly $300 million to the creditors of one of its now-bankrupt subsidiaries after they sued the company in relation to a historical U.S. environmental case, Reuters reported. The case against Maxus Energy Corp., which YPF acquired in the 1990s, dates back to 2005, when the state of New Jersey successfully sued the subsidiary for the contamination of the Passaic River decades earlier. In 2016, Maxus Energy Corp. filed for chapter 11 protection in the U.S. Bankruptcy Court in Delaware.
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Greece plans three bond reopenings via auctions by the end of June, as part of its 2023 borrowing programme, its debt agency (PDMA) said on Friday, Reuters reported. PDMA started auctioning bonds last year for up to 500 million euros ($545.50 million) to add liquidity to specific parts of Greek debt's yield curb. Under a bond auction schedule released on Friday, PDMA plans bond reopenings on April 19, on May 17 and on June 21. PDMA will announce its final decision to proceed with each scheduled auction and the auctioned amount a day before the auction date, it said in a statement.
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The Russian ruble fell Thursday to its lowest level in a year as Moscow’s weakening oil revenues and fears over capital flight weigh on the currency, the Wall Street Journal reported. The ruble was recently down 1.7% against the U.S. dollar and was on track for its lowest closing level since April 21, 2022, with 81.6 rubles buying $1. The currency has fallen 4.4% this week against the dollar and 5.2% against the euro. The ruble’s weakness runs counter to a broader trend among global currencies, which have gained against the dollar in recent weeks.
UBS faces big risks as it prepares to absorb its longtime archrival, Credit Suisse, the bank’s chairman warned shareholders at its annual meeting on Wednesday, the New York Times reported.
Scandinavian airline SAS AB said on Thursday it had initiated steps to raise equity and would seek bids as part of its ongoing chapter 11 bankruptcy proceedings in the U.S., Reuters reported. The embattled carrier filed for bankruptcy protection in the U.S. last year as it sought to slash costs and debt amid strikes from pilots after wage talks collapsed. The airline, which earlier aimed to raise SEK 9.5 billion ($911.20 million) in equity financing, now said the final sum would be dependent on the bidding process and generation of additional liquidity by the airline.