Latest News for: Insolvent bank

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Peter Schiff Says Global Tax Chiefs’ Only Enforcement Success Is Its ‘Failed’ Action Against His Bank

Bitcoin 08 Dec 2023
of 2020 against my bank ‘to put a stop to the suspected facilitation of offshore tax evasion.’ ... Euro Pacific Bank’s operations were suspended in July last year by the Puerto Rican Office of the Commissioner of Financial Institutions (OCIF), which cited “serious insolvency” issues.
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Sam Altman-Backed Meanwhile Group Launches Bitcoin Private Credit Fund

Coinspeaker 08 Dec 2023
To address concerns about potential risks, Townsend highlighted the closed structure of the fund, eliminating the possibility of a “run on the bank.” This structure mitigates the risk of insolvency, a challenge faced by some crypto lenders in the past.
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Sam Altman-Backed Crypto Startup Looks To Secure $100 Million For Bitcoin Private Credit Fund

NewsBTC 08 Dec 2023
Bitcoin Rally Sparks Launch Of Meanwhile Advisors Fund ... The Meanwhile BTC Private Credit Fund adopts a single-close, closed-end structure ... Innovative Fee Approach? ... Addressing concerns about risk management, Townsend highlighted that the closed structure of the fund eliminates the risk of a “bank run” scenario that can lead to insolvency.
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NCLAT to hear IDBI's insolvency plea against Zee Entertainment today

Live Mint 06 Dec 2023
The order, dated May 19, 2023, dismissed the insolvency plea against a major media firm, citing Section 10A of the Insolvency & Bankruptcy Code (IBC).NCLT stated that ZEEL, acting as the corporate guarantor for Siti Networks' loan from IDBI Bank, had defaulted.
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Home buyers from HDIL’s stalled projects stage protest in tribunal

Hindustan Times 06 Dec 2023
The Sarang Wadhawan-promoted HDIL has been facing corporate insolvency resolution proceedings (CIRP) under the Insolvency Bankruptcy Code after lender Bank of India moved NCLT for recovery of ₹522 crore from HDIL in June 2019. On August 19, 2019, NCLT admitted Bank of India’s ...
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Is American Banking Safe? You Might Not Like the Answer From Two Fed Veterans

Scheerpost 06 Dec 2023
banking system ... National Bank was declared insolvent ... But the concept of Too Big to Fail is rooted in this inadequacy of bank capital because the Fed had to come up with an excuse for why they were lending to an obviously insolvent bank ... They were all in for the argument that the Federal Reserve should stop lending to insolvent banks.
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Ramakrishna Forgings wins at SC, set to bag ACIL

Business Line 06 Dec 2023
The issue was whether or not the Tribunals could look beyond the “commercial wisdom” of the Committee of Creditors and see if the resolution plan was good enough. The insolvency proceedings were initiated by IDBI Bank.
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NARCL to sign final documents soon before taking over Srei firms

Business Line 05 Dec 2023
... companies are likely to sign final documents this week before the bad bank finally takes over the two NBFCs under the corporate insolvency resolution process (CIRP).
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Budget 2024: Why experts are bullish on PSU bank stocks after assembly election results — explained

Live Mint 05 Dec 2023
In a surprise move, Bank Nifty surged over ... With sectors now in good health and the NPA (Non-Performing Asset) issue largely resolved through measures like the National Company Law Tribunal (NCLT) and the Insolvency and Bankruptcy Code (IBC), PSU banks are in a favourable position.
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Wanxiang Trust: Another Chinese ‘shadow bank’ faces major financial trouble

CNN 05 Dec 2023
China’s trust firms are part of its $3 trillion “shadow banking” industry, which forms an important source of finance in the country ... The reports come two weeks after Zhongzhi Enterprise Group, another major shadow bank, declared itself “insolvent” after missing payments to its investors.
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CP issuances by corporates surge 60% in November

Financial Express 05 Dec 2023
“With tighter liquidity, everybody wanted to have sufficient cash with them.” Corporates turned to the money market as banks have also raised rates, he added. Also ReadLandowners’ dilemma under Insolvency and Bankruptcy Code ... The Reserve Bank of India has made clear that it is not comfortable with surplus liquidity in the system.
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Former KPMG partner admits guilt in hiding VBS loans

Business Day 04 Dec 2023
A former KPMG partner who resigned in 2018 amid allegations of misconduct involving loans from VBS Mutual Bank has admitted guilt ... Malaba failed to disclose loans held with VBS, which was placed in curatorship in March and is the subject of a Reserve Bank-instituted forensic investigation.
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Hong Kong court puts off Chinese developer Evergrande’s hearing on its debt restructuring to January

Asahi News 04 Dec 2023
... to banks but which operate outside of banking regulations. Police are investigating Zhongzhi Enterprise Group, a major shadow bank in China that has lent billions in yuan (dollars) to property developers, after it said it was insolvent with up to $64 billion in liabilities.
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Hong Kong court puts off Chinese developer Evergrande's hearing on its debt restructuring to January

Killeen Daily Herald 04 Dec 2023
... to banks but which operate outside of banking regulations. Police are investigating Zhongzhi Enterprise Group, a major shadow bank in China that has lent billions in yuan (dollars) to property developers, after it said it was insolvent with up to $64 billion in liabilities.
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