Latest News for: Insolvent bank

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Start Mortgages accused of limiting debtor options

The Times/The Sunday Times 25 Oct 2021
The accusation follows letters sent by Start Mortgages to hundreds of borrowers suggesting that they consider a personal insolvency arrangement as a solution to their debt problems.
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Debt-ridden Hindusthan National Glass faces insolvency proceedings

Business Line 23 Oct 2021
The Kolkata bench of the NCLT has admitted application for initiating Corporate Insolvency Resolution Process (CIRP) against the country’s largest container glass-maker, Hindusthan National Glass & Industries Ltd (HNG). The insolvency proceedings were initiated against the debt-ridden company by DBS Bank Ltd, one its financial creditors.
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No Squid Game: South Korea's real-life debt trap

Straits Times 22 Oct 2021
An inadequate social safety net for small entrepreneurs and the lack of a rehabilitation programme for failures spell risks that could drive some South Koreans desperate, and banks often ignore a five-year limit to destroy insolvency records ... A central bank study in 2017 showed that just 38% of such businesses survive three years.
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No 'Squid Game': South Korea's Real-Life Debt Trap

Voa News 22 Oct 2021
An inadequate social safety net for small entrepreneurs and the lack of a rehabilitation program for failures spell risks that could drive some South Koreans into desperation, and banks often ignore a five-year limit to destroy insolvency records.� ... A central bank study in 2017 showed that just 38% of such businesses survive three years.�.
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No ‘Squid Game’: S Korea’s real-life debt trap

Taipei Times 22 Oct 2021
An inadequate social safety net for small entrepreneurs and the lack of a rehabilitation program for failures spell risks that could drive some South Koreans desperate, and banks often ignore a five-year limit to destroy insolvency records ... A South Korean central bank study in 2017 showed that just 38 percent of such businesses survive three years.
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Discussing The Revenge Of The Nodes

Bitcoin Magazine 22 Oct 2021
The central bank has had to become the producer of collateral for the entire world ... He's a strategist at Bank of America ... The system would be insolvent ... That puts the whole banking system into insolvency ... If you were to write off those values of the loans against the book value of equity of the global banking system, it was bankrupt, insolvent.
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IDBI Bank Q2 results: Net profit up 75%

Business Line 21 Oct 2021
The Bank had posted a net profit of ₹324 crore in the year ago quarter ... Samuel Joseph, Deputy Managing Director, said the Bank has an exposure of about ₹400 crore to the SREI group, which is undergoing corporate insolvency resolution process, and has made 100 per cent provision towards this exposure. IDBI Bank recovered ₹196 crore from DHFL.
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SBI board wanted letter of support from govt before approving Jet Airways resolution plan: Rajnish ...

Deccan Herald 19 Oct 2021
Subsequently, the Mumbai bench of the NCLT in June 2019 admitted an insolvency petition against Jet Airways filed by the lenders' consortium led by the State Bank of India (SBI) ... Prior to his appointment as chairman, he was managing director (National Banking Group) at SBI, overseeing the retail business and digital banking ... State Bank of India.
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SBI board wanted letter of support from govt before approving Jet resolution plan: Rajnish Kumar

Live Mint 19 Oct 2021
Subsequently, the Mumbai bench of the NCLT in June 2019 admitted an insolvency petition against Jet Airways filed by the lenders' consortium led by State Bank of India (SBI) ... Prior to his appointment as chairman, he was managing director (National Banking Group) at SBI, overseeing the retail business and digital banking.
photo: AP / Bilal Hussein
A woman prays during a protest against the Lebanese government, in Beirut, Lebanon, Sunday, Nov. 3, 2019.
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Lebanon’s crisis has gone from bad to worse

Asiatimes 16 Oct 2021
Fuel shortages caused by a foreign-exchange crisis in which the country is in effect bankrupt is merely one of a series of cascading problems that has prompted the World Bank to describe the situation as one the world’s top 10 “most severe crises since the mid-19th century.” ... Banks have become insolvent.
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Change-Ups: Hansen named BTI Client Service All-Star

Grand Rapids Business Journal 15 Oct 2021
News & World Report and Best Lawyers for Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law as well as Litigation-Banking & Finance. Attorneys Todd Almassian, bankruptcy and creditor debtor rights/insolvency and reorganization law litigation-banking ...
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European banking lobby chief says low bankruptcies ‘hurting viable businesses’

The Irish Times 14 Oct 2021
The head of the European Banking Federation (EBF) told a Dublin audience on Thursday that the low level of company insolvencies internationally amid the Covid-19 crisis, as a result of government efforts to protect business, is harming viable businesses and the economic recovery ... They need to be dealt with.” Insolvencies.
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Pan Ocean eyes stake in Woori Financial Group

Korea Times 14 Oct 2021
Stock sell-off to help privatization of banking group for first time in 23 years ... If realized, Woori Financial Group will be completely free of government ownership for the first time in 23 years, after it was created in 2001 by combining a number of Korean banks that had become insolvent during the 1997-98 financial crisis.
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People: Broadway Insurance Brokers; Base Architecture; Sundown Solutions; Champion Accountants; Voicescape; Exchange Chambers

The Business Desk 14 Oct 2021
X Register for free to receive latest news stories direct to your inbox. Register ... He added ... ... From left ... Harry added ... Jenny said ... ... Matthew Griffiths ... .. ... His practice as a barrister covers general commercial litigation matters, corporate and personal insolvency, company law, fraud and asset recovery, banking and claims brought against professionals.
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Srei cos ask creditors to submit claims by Oct 22

The Times of India 12 Oct 2021
The Kolkata bench of the National Company Law Tribunal (NCLT) on October 8 gave its approval to start insolvency proceedings against Srei Infrastructure Finance and its wholly owned subsidiary Srei Equipment Finance after the Reserve Bank of India filed insolvency applications against the two companies.

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