Creditors

Vault matters | Barely discussed concerns in gold loans

The year 2024 belonged to gold loans clearly. From one of the largest players, IIFL Finance, being banned for a little over six months this year to the regulator waking up the irregularities in the sector, gold loans have become the product everyone wants to focus on. But if unsecured loans are being realigned as secured gold loans product, is that proposition well thought through?

SpiceJet finalises settlement with ELFC, to resolve liabilities worth $16.7 mn

Spicejet's settlement with Engine Lease Finance Corporation comes amid the airline's wider initiatives to streamline operations for future growth

Japan, India and France launch creditors meeting on Sri Lanka debt

It remains uncertain, however, whether Sri Lanka's biggest bilateral creditor - China - will join the initiative launched by Japan, this year's G7 chair, with the aim of kicking off a series of meetings among Sri Lanka's creditors.

Evergrande signs restructuring agreement with major creditors

Creditors will receive a consent fee for 0.25% of outstanding principal of the respective debts if they agree to the proposal by 5 p.m. Hong Kong time on April 27, the firm added.

Sri Lanka to start next round of talks with creditors in April

The IMF has released the first tranche of about $330 million, part of a nearly $3 billion bailout approved by it on Monday, Wickremesinghe told parliament.

The insolvency law tweak that can make India's banks and bondholders extremely unhappy

The Indian government seeks to achieve an “equitable scheme of distribution of proceeds,” it said in a discussion paper issued in January that recommends other significant changes to the Insolvency and Bankruptcy Code.

Creditors of IL&FS Financial Services to get Rs 3,200 crore interim payout

The IL&FS group would also pay back another Rs 1,900 crore for three of its other firms, making the aggregate payout at Rs 5,100 crore, it said on Monday.

How India's bid to reform bankruptcy law affects payouts to creditors

To speed up proceedings and counter a mounting caseload, the Ministry of Corporate Affairs last week published published dozens of proposed amendments to the insolvency code, giving the public until Feb. 7 to provide input. Any changes to the law would have to be voted on by parliament.

Byju’s seeks more time from lenders to recast $1.2 billion debt

The creditors have until Tuesday to sign a forbearance agreement, which will give the company time till Feb. 10 to negotiate broader terms on the term loan, the people said, asking not to be identified as the information isn’t public.

Shriram Transport Finance MD says expect merger completion in 2-3 months

In an exchange filing today, STFC said that as per the consolidated shareholder voting results, 98.1 percent of votes were cast in favour of the resolution while 1.9 percent of shareholders voted against the resolution.

Explainer: Can Russia pay its creditors, and what happens if not?

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.

Sluggish bankruptcy resolution takes a heavy toll on creditors

Creditors lost at least three-fourths of their investments in 35 stressed companies whose insolvency cases were resolved in the December quarter of 2021. The realisation percentage in the last quarter of calendar 2021 has been the lowest yet

Creditors vote in favour of AirAsia X restructuring plan: Source

AirAsia X said on Friday the first of three groups had voted 100% in favour of the plan to restructure 33.65 billion ringgit ($8.1 billion) of liabilities.

West Bengal will borrow to pay for freebies but keep creditors at bay

On the negative side, West Bengal has a high debt-GSDP ratio and low own tax revenue to GSDP ratio, huge debt liabilities; the positives are the numerous social sector schemes, infant mortality and maternal mortality rates are far better than the national average, its total fertility rate at 1.6 is the lowest in the country, it is the first in terms of school enrolment

Supreme Court's Essar Steel order puts banks back on top in IBC

The NCLAT’s order had upset the premier position of financial creditors in the resolution process. The SC has restored their position

Sale of 10 IL&FS entities underway: Govt

The IL&FS board, which has to repay over Rs 90,000 crore to lenders, has decided to adopt an 'asset level resolution' with regard to various group companies and entities.

Bankruptcy Code 2016: Why this time it is different?

The current set of regulations surrounding the bankruptcy process in India were borne out of multiple judicial reforms and with biased towards revival of industrial companies.

Bankruptcy Code will be a game-changer, workmen to benefit

This code takes the dues outstanding to workmen for two years dating back from the time insolvency proceedings are initiated against the defaulting company, says Lalit Kumar, Partner, JSA.

Euro zone aims to cap Greek debt servicing at 15% of GDP

Athens, and initially also the IMF, has been pushing for a haircut on Greece's nominal sovereign debt, which is to top 180 percent of GDP this year, according to commission forecasts.

Managing loan repayments during bereavement or illness

Here are some tips to handle loan repayments of your loved ones in the unfortunate event of their death or illness.

Greece hopes to conclude bailout talks by August 11

Greece's finance and economy ministers were locked in negotiations with representatives of creditors on Sunday, which stretched until the early hours of Monday.

Greece starts paying back the ECB, IMF

According to a report by Reuters, Athens is paying back 4.2 billion euros in principal and interest to the ECB and 2.05 billion euros in arrears it has owed the IMF since it stopped repaying at the end of June. It is also repaying a 500 million euro loan to the Greek central bank.