Insolvent Banking

Latest News for: Insolvent banking

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QuadrigaCX case: Canada's big banks wary of cryptocurrency assets

Canada Dot Com 22 Feb 2019

HALIFAX — The wary skepticism that Canada’s big banks have for the cryptocurrency industry was on full display Friday when a Nova Scotia judge issued an order for the eventual disbursement of more than $30 million in bank drafts tied to the QuadrigaCX insolvency case....

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Canada's big banks reveal squeamishness over cryptocurrency assets in Quadriga case

Canada Dot Com 22 Feb 2019

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Binani Cement case: Cementing the EXIM Bank stand

Yahoo Daily News 21 Feb 2019

It brings out the spirit of the Insolvency and Bankruptcy Code (IBC) succinctly ... EXIM Bank of India s stand and arguments played a unique role in the litigation surrounding the insolvency resolution process and the NCLAT judgment established the accuracy of EXIM Bank s convictions ... EXIM Bank s stand....

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Indian markets cheer government’s cash support for its ailing banks

The Times of India 21 Feb 2019

Yesterday, India’s finance ministry approved a plan to pump ₹482.4 billion into 12 public sector (PSU) banks ... The move is linked to helping these state-owned banks, which comprise a lion’s share of the banking sector’s non-performing loans, avoid or exit the Reserve Bank of India’s Prompt Corrective Action (PCA) framework....

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Who were the convicted bankers?

The Irish Times 21 Feb 2019

Dubliner Denis Casey qualified as a certified accountant and began his career with Allied Irish Banks ... banking, finance and securities, bankruptcy/insolvency/reorganisations, company law, insurance law, pensions law and tax law ... McAteer was later offered a job by Seán FitzPatrick, then chief executive of up-and-coming Anglo Irish Bank....

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Greek FinMin Euclid Tsakalotos’ Interview to CNBC

The National Herald 21 Feb 2019

We have a lot to do with bank reducing their NPLs, we have a lot to do with public administration ... Can you give me an update on the state of those reforms that Greece needs to implement by the end of the month in exchange for that money from the central banks? ... We’re presenting a new law about household insolvency which will also help the banks....

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FinMin expects NPA recovery of Rs 1.80 lakh crore in FY19

Moneycontrol 20 Feb 2019

So far, banks have recovered Rs 1 lakh crore under the Insolvency and Bankruptcy Code (IBC) ... Besides, the NCLT is expected to finalise corporate insolvency resolution process of several stressed assets including Videocon Group, Monnet Ispat, Amtek Auto and Ruchi Soya....

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Finmin expects NPA recovery at Rs 1.80 lakh crore this fiscal

DNA India 20 Feb 2019

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Why can't RBI monitor OTS methods of banks: Telangana high court

The Times of India 20 Feb 2019

... by various banks for scores of defaulters ... The RBI had noted that the loans along with interest and penalties had gone up to the tune of 2,905 crore and directed banks to file an appeal with the NCLT to declare Anrak as insolvent....

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Penn Capital Mutual Funds Achieve 3-Year Track Record

Omaha World-Herald 20 Feb 2019

Bank loans in which the Funds may invest have similar risks to below investment grade fixed income securities. In the event of the insolvency of an agent bank, a loan could be subject to settlement risk as well as the risk of interruptions in the administrative duties performed in the day to day administration of the loan....

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Insolvency process: Gaur offers to clear Jaypee Infra dues of Rs 8,358 crore

Yahoo Daily News 19 Feb 2019

After RBI rap, YES Bank says a report released to comply with SEBI norms ... The National Company Law Tribunal (NCLT) had on August 9, 2017, admitted IDBI Bank s plea for initiation of the corporate insolvency resolution process (CIRP) against JIL for defaulting on a `526-crore loan ... JIL has `9,000-crore outstanding to various banks....

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More banks may exit prompt corrective action after March quarter

The Times of India 19 Feb 2019

Allahabad Bank, Central Bank of India and Dena Bank may be next in line to be taken out of the Reserve Bank of India’s prompt corrective action (PCA) framework, with the government likely to inject more capital into these lenders. There are hopes of better loan recovery through the insolvency resolution mechanism....

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Gaurs' last bid for Jaypee Infra

The Times of India 19 Feb 2019

The Gaurs, the promoters of Jaypee Infratech, on Monday made a last-ditch effort to regain control of the debt-laden company that is facing insolvency by offering to settle the dues to lenders led by IDBI Bank ... This time, the Gaurs have suggested that they will settle the dues of lenders under section 12A of IBC, banking sources said....