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With total exposure of Rs 13,483 crore in insolvent Reliance Infratel, China Development Bank, Export-Import Bank of China, and SC Lowy Asset Management have appealed to the Indian government to speed up the company’s debt resolution procedure, which began in May 2018, Inventiva reported. The lenders voiced their worry in a letter to the Indian finance minister and the Insolvency and Bankruptcy Board of India (IBBI) that despite the strict time frames set forth under the Insolvency and Bankruptcy Code, Reliance Infratel’s debt resolution is still far from complete.

An Alberta, Canada, trucking company specializing in fluid transportation for the oil sector is seeking credit protection as it faces over CA$3 million ($2.3 million) in debt to dozens of companies and the country’s tax authority, FreightWaves reported. Prairie Tech Oilfield Service, based in Elk Point, filed a notice in the Court of Queens Bench of Alberta on Feb. 22 that the company is insolvent and intends to make a proposal to its creditors under Canada’s Bankruptcy and Insolvency Act.

The sale of Genting Hong Kong's unfinished mega-liner Global Dream has already lured plenty of potential buyers, including billionaire ex-Genting boss Lim Kook Thay, traveller.com reported. The vessel is set to become the world's biggest cruise ship by capacity once completed, but it currently sits unfinished in a German shipyard. Troubled cruise company Genting HK – which also owns Dream Cruises, Crystal Cruises and Star Cruises – filed for bankruptcy on Jan. 19, days after the Hong Kong government paused "cruises to nowhere" (short round-trip sailings that stop at no additional ports).

The government has invited bids from firms for valuing the assets of privatization-bound RINL or Vizag Steel, msn.com reported. The Cabinet Committee of Economic Affairs (CCEA) on Jan. 27 gave “in-principle” approval for 100 percent disinvestment of government stake in Rashtriya Ispat Nigam Limited (RINL), also called Visakhapatnam Steel Plant or Vizag Steel, along with RINL's stake in its subsidiaries/joint ventures.

Annual inflation in Russia accelerated to 12.54% as of March 11, its highest since late 2015 and up from 10.42% a week earlier, the economy ministry said on Wednesday, with the weakening rouble sending prices soaring amid unprecedented Western sanctions, Reuters reported. Inflation accelerated sharply as the currency fell to an all-time low and amid signs of increased demand for a wide range of goods, from food staples to cars, on expectations that their prices will rise further.

BMW and Volkswagen warned this week that Russia’s invasion of Ukraine is causing shortages of some vital components, forcing them to reduce vehicle production in Europe, the Associated Press reported. The two German carmakers said the war is having a “negative” effect on auto supply chains, which have already been battered by shortages of semiconductors. BMW said Wednesday that bottlenecks at its suppliers in Ukraine have forced the automaker to adjust or interrupt production at a number of factories, which is likely to have a negative impact on vehicle sales figures.

Malaysia’s Airasia X said on Wednesday it had completed its debt restructuring and will write 33 billion ringgit ($7.86 billion) back to profits in the next quarter, Reuters reported. Under the airline’s restructuring proposal, it would pay just 0.5% of debt owed and end its existing contracts. It was approved by its creditors and the High Court of Malaya last year. The restructuring was proposed to avoid liquidation after the long-haul low-cost airline posted a record quarterly loss last September.

Mexico's Grupo Aeromexico shares plunged for a fourth day in a row on Tuesday after nearly a fifth of the company's capital was sold at 1 cent a share through a public offering as part of its restructuring plan to exit bankruptcy, Reuters reported. Shares in Grupo Aeromexico, which operates the country's main airline and filed for bankruptcy in 2020, fell 27% to 59 cents and have lost about half their value in the past four days. Analysts have said trading in the shares has not reflected a creditor deal that was approved in January. Through the tender offer, which took place between Feb.

Russia is due to pay $117 million in interest on two dollar-denominated sovereign bonds on Wednesday — the first such payments since its invasion of Ukraine which sparked a raft of sanctions from Western capitals and countermeasures from Moscow, according to a Reuters analysis. Russia's finance ministry said on Monday it had sent an order to a correspondent bank for the payment of coupons on eurobonds amounting to $117.2 million, which are due on Wednesday.

Credit ratings agency Fitch said on Tuesday that if Russia were to make two U.S. dollar bond coupon payments due Wednesday in roubles, it would constitute a sovereign default after a grace period expiration, Reuters reported. Russia's invasion of Ukraine last month triggered sanctions from across the world that have limited Moscow's ability to access and allocate cash. "The payment in local currency of Russia's U.S. dollar Eurobond coupons due on 16 March would, if it were to occur, constitute a sovereign default, on expiry of the 30-day grace period," Fitch said in a statement.