Insolvent Banking

Latest News for: Insolvent banking

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Switzerland Working on Major Changes to Develop Pro-Crypto and Blockchain Legal Framework

A Bit of News 17 Dec 2018

Not only have a significant number of startups with several hundred million dollars in investments been established, but the Swiss Central Bank itself has shown interest in the use of cryptocurrencies to promote the national economy ... Amend the Banking Act along the same lines as above in the case of a financial institution going bankrupt....

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A plan to revive Europe can succeed where Macron and Piketty failed

Gulf News 16 Dec 2018

a common bank deposit insurance scheme (to end the chronic doom loop between insolvent banks and states); a well-funded common treasury (to fund pan-European investment and unemployment benefits); and a hybrid parliament (comprising national and European members of parliament to lend democratic legitimacy to all of the above)....

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Strengthening euro area banking union

The Daily Tribune 16 Dec 2018

Dealing with problem banks in a prompt, efficient and even-handed manner is essential for the European banking union ... Banking resolution must be undertaken in a coherent framework ... what counts as the “public interest”) need to be streamlined and the hierarchy of creditor claims in bank insolvency needs to be more consistent across countries....

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Note of caution

Indian Express 16 Dec 2018

Mallya, he said, had a four-decade-long track record of making regular payments to banks and started defaulting only after entering the aviation sector which was itself beset by turbulence ... In many of these cases, banks have recovered part of their dues through resolutions under the Insolvency and Bankruptcy Code (IBC)....

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Switzerland Unveils Legal Blockchain Framework in Crypto Valley Association Partnership

A Bit of News 15 Dec 2018

... of Justice and Police (FDJP) to draw up a consultation draft in the first quarter of 2019 that will lead to industry-specific regulations, including civil law, insolvency law, financial market law, banking law, and anti-money laundering law catered to the blockchain space....

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Switzerland sets legal foundations for blockchain industry

A Bit of News 14 Dec 2018

This would create a new regulatory category along the lines of recent fintech laws, which allow certain financial activities to be carried out by tech start-ups without a banking license ... The Swiss Financial Market Supervisory Authority (FINMA) currently has these powers when assessing fintech start-ups that offer limited banking services....

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UltraTech Binani deal: IDBI Bank awaits RBI nod to recover dues

Live Mint 14 Dec 2018

For capital-starved IDBI Bank Ltd, UltraTech Cement Ltd’s winning bid for insolvent Binani Cement Ltd was good news ... a Binani group firm in Belgium, but as the loan was guaranteed by Binani Cement, IDBI Bank was allowed to recover its loan through the insolvency process....

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IDBI Bank awaits RBI nod to recover Binani#39;s dues from UltraTech: Report

Moneycontrol 14 Dec 2018

The bank can not receive money from UltraTech Cement or remit it to its Dubai branch without RBI’s permission ... RBI has reportedly been sending questions to IDBI Bank on the same ... The loan was, however, guaranteed by Binani Cement, which is why IDBI Bank was allowed to recover its loan through the insolvency process, sources told the paper....

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My plan to revive Europe can succeed where Macron and Piketty failed | Yanis Varoufakis

The Guardian 13 Dec 2018

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Our plan to revive Europe can succeed where Macron and Piketty failed

The Observer 13 Dec 2018

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Fiat Padmini long gone, Premier Ltd now faces bankruptcy

Live Mint 13 Dec 2018

Corporation Bank has filed with NCLT Mumbai a bankruptcy case against Premier Ltd to recover dues of ₹52 crore ... In a regulatory filing on Wednesday, Premier said it had talks with Corporation Bank since it received the insolvency notice, including on 11 December 2018, to arrive at an amicable settlement....

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Improve last mile delivery for ease of doing business: PM to bureaucrats

The Times of India 13 Dec 2018

Subjects such as construction permits, enforcement of contracts, registering property, starting a business, getting electricity, getting credit, and resolving insolvency came up for discussion. India's rise in the World Bank 'Doing Business' rankings from 142 to 77, over the last ......

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Improve last mile delivery for ease of doing business: PM Modi to bureaucrats

Moneycontrol 13 Dec 2018

Subjects such as construction permits, enforcement of contracts, registering property, starting a business, getting electricity, getting credit, and resolving insolvency came up for discussion.India's rise in the World Bank 'Doing Business' rankings from 142 to 77, over the last four years, was taken note of, the statement said ... ....