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WazirX Parent Zettai Urges Singapore Court to Review WazirX Restructuring, Extend Moratorium
Zettai, the parent company of crypto exchange WazirX, has approached the Singapore High Court seeking a reassessment of its financial restructuring plan. The filing also requests an extension of the ongoing moratorium, which has protected both Zettai and WazirX from creditor lawsuits while the company works on its reimbursement strategy.
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Singapore Court Approves WazirX’s Financial Restructuring Plan, Creditors to Vote Next
The Singapore High Court has approved WazirX's financial restructuring scheme, contingent on at least 75 percent of creditors voting in favour. If approved, WazirX will initiate the reimbursement process within ten business days of the scheme's effective date.
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WazirX’s Singapore-Based Stakeholder Zettai Applies for Moratorium to Restructure Funds
WazirX estimates that Zettai may take at least six months to stitch up a scheme, which if approved by the creditors and sanctioned by the Singapore Court, “would be legally binding on all relevant parties, including Zettai.” The platform needs this time to finalise the terms and conditions of this financial restructuring scheme.
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Financial Creditors Take Maximum Risk, Need To Be Compensated: RBI
Amendments to India's bankruptcy law should focus on a financial creditor-led framework for resolution of stressed assets, the governor of the country's central bank said on Thursday.
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Noted Art Director Nitin Desai, Found Dead At Home, Defaulted On Rs 252 Crore Loan
Noted art director Nitin Chandrakant Desai, who was found dead at his studio in Maharashtra's Raigad, had defaulted on a Rs 252-crore loan to its financial creditor, and a bankruptcy court had admitted an insolvency petition against his firm.
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Flood-Hit Pakistan Should Suspend Debt Repayments, Says UN Paper: Report
Pakistan should suspend international debt repayments and restructure loans with creditors after recent floods added to the country's financial crisis, the Financial Times reported on Friday, citing a UN policy memo.
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Ghimob Malware Targeting Financial Android Apps, Offers Remote Access to Hacker: Kaspersky
Ghimob is spread via email that pretends to be from a creditor and provides a link where the recipient could view more information, while the app itself pretends to be Google Defender, Google Docs, WhatsApp Updater, etc. If the recipient falls for the scam and clicks on the link, the Trojan gets downloaded on their handsets.
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5 Points On Bill To Amend Insolvency And Bankruptcy Code
A Bill to amend Insolvency and Bankruptcy Code, 2016, has been introduced in the Lok Sabha to bring relief to the home buyers and Micro, Small and Medium Enterprises or MSMEs. The Insolvency and Bankruptcy Code (Amendment) Ordinance will protect the buyers when builders declare bankruptcy for under-construction real estate projects. The Bill would ...
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Force India Formula 1 Team To Continue Operations Amidst Financial Turmoil
The Force India Formula 1 team co-owned by Vijay Mallya has been in deep financial trouble for a while now. With rumours of the team shutting down day-to-day operations, Sergio Perez, one of the current drivers approached courts in the United Kingdom. His move was prompted by the fact that last Wednesday (July 25, 2018), one of the creditors who is...
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Insolvency Law To "Help One Industry": Opposition In Parliament
The amendments to the insolvency law which empowers home buyers to be recognised as financial creditors was introduced in the Lok Sabha today, even as opposition parties objected to certain changes in the Act alleging that these intended to "help one industry".
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PNB Not Shown As Creditor In US Bankruptcy Filing By Nirav Modi Companies
The Punjab National Bank is not shown as a creditor in the bankruptcy documents filed in a court here by three companies affiliated with Nirav Modi, who has been accused in a $2 billion-scam involving the nationalised financial institution.
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Still Waiting For Your Flat Possession? This New Rule Can Help
The Insolvency and Bankruptcy Board of India (IBBI), which is implementing the Code, has amended the regulations whereby claims can be made by creditors other than financial and operational creditors.
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Court Approves MV Agusta Debt Restructuring Plans
An Italian court has allowed motorcycle brand MV Agusta 's new business plant to restructure its debt with creditors and suppliers. The court order in Varese, Italy, may well result in MV Agusta closing its investment deal with the Black Ocean Group, an Anglo-Russian private equity firm. Latest reports speculate that Black Ocean could take over the...
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Greek Parliament Tables Vote on Bailout Deal
Greece's parliament tabled a crucial vote on ratifying the text of a third international bailout agreement between Athens and its creditors late on Tuesday, the parliament said on its website.
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Greek PM Alexis Tsipras Asks Parliament to Approve Reforms as 'National Responsibility'
Greek Prime Minister Alexis Tsipras asked parliament early Saturday to approve his reform proposals to creditors as a "national responsibility" that would keep the struggling nation inside the European Union.
-
WazirX Parent Zettai Urges Singapore Court to Review WazirX Restructuring, Extend Moratorium
Zettai, the parent company of crypto exchange WazirX, has approached the Singapore High Court seeking a reassessment of its financial restructuring plan. The filing also requests an extension of the ongoing moratorium, which has protected both Zettai and WazirX from creditor lawsuits while the company works on its reimbursement strategy.
-
Singapore Court Approves WazirX’s Financial Restructuring Plan, Creditors to Vote Next
The Singapore High Court has approved WazirX's financial restructuring scheme, contingent on at least 75 percent of creditors voting in favour. If approved, WazirX will initiate the reimbursement process within ten business days of the scheme's effective date.
-
WazirX’s Singapore-Based Stakeholder Zettai Applies for Moratorium to Restructure Funds
WazirX estimates that Zettai may take at least six months to stitch up a scheme, which if approved by the creditors and sanctioned by the Singapore Court, “would be legally binding on all relevant parties, including Zettai.” The platform needs this time to finalise the terms and conditions of this financial restructuring scheme.
-
Financial Creditors Take Maximum Risk, Need To Be Compensated: RBI
Amendments to India's bankruptcy law should focus on a financial creditor-led framework for resolution of stressed assets, the governor of the country's central bank said on Thursday.
-
Noted Art Director Nitin Desai, Found Dead At Home, Defaulted On Rs 252 Crore Loan
Noted art director Nitin Chandrakant Desai, who was found dead at his studio in Maharashtra's Raigad, had defaulted on a Rs 252-crore loan to its financial creditor, and a bankruptcy court had admitted an insolvency petition against his firm.
-
Flood-Hit Pakistan Should Suspend Debt Repayments, Says UN Paper: Report
Pakistan should suspend international debt repayments and restructure loans with creditors after recent floods added to the country's financial crisis, the Financial Times reported on Friday, citing a UN policy memo.
-
Ghimob Malware Targeting Financial Android Apps, Offers Remote Access to Hacker: Kaspersky
Ghimob is spread via email that pretends to be from a creditor and provides a link where the recipient could view more information, while the app itself pretends to be Google Defender, Google Docs, WhatsApp Updater, etc. If the recipient falls for the scam and clicks on the link, the Trojan gets downloaded on their handsets.
-
5 Points On Bill To Amend Insolvency And Bankruptcy Code
A Bill to amend Insolvency and Bankruptcy Code, 2016, has been introduced in the Lok Sabha to bring relief to the home buyers and Micro, Small and Medium Enterprises or MSMEs. The Insolvency and Bankruptcy Code (Amendment) Ordinance will protect the buyers when builders declare bankruptcy for under-construction real estate projects. The Bill would ...
-
Force India Formula 1 Team To Continue Operations Amidst Financial Turmoil
The Force India Formula 1 team co-owned by Vijay Mallya has been in deep financial trouble for a while now. With rumours of the team shutting down day-to-day operations, Sergio Perez, one of the current drivers approached courts in the United Kingdom. His move was prompted by the fact that last Wednesday (July 25, 2018), one of the creditors who is...
-
Insolvency Law To "Help One Industry": Opposition In Parliament
The amendments to the insolvency law which empowers home buyers to be recognised as financial creditors was introduced in the Lok Sabha today, even as opposition parties objected to certain changes in the Act alleging that these intended to "help one industry".
-
PNB Not Shown As Creditor In US Bankruptcy Filing By Nirav Modi Companies
The Punjab National Bank is not shown as a creditor in the bankruptcy documents filed in a court here by three companies affiliated with Nirav Modi, who has been accused in a $2 billion-scam involving the nationalised financial institution.
-
Still Waiting For Your Flat Possession? This New Rule Can Help
The Insolvency and Bankruptcy Board of India (IBBI), which is implementing the Code, has amended the regulations whereby claims can be made by creditors other than financial and operational creditors.
-
Court Approves MV Agusta Debt Restructuring Plans
An Italian court has allowed motorcycle brand MV Agusta 's new business plant to restructure its debt with creditors and suppliers. The court order in Varese, Italy, may well result in MV Agusta closing its investment deal with the Black Ocean Group, an Anglo-Russian private equity firm. Latest reports speculate that Black Ocean could take over the...
-
Greek Parliament Tables Vote on Bailout Deal
Greece's parliament tabled a crucial vote on ratifying the text of a third international bailout agreement between Athens and its creditors late on Tuesday, the parliament said on its website.
-
Greek PM Alexis Tsipras Asks Parliament to Approve Reforms as 'National Responsibility'
Greek Prime Minister Alexis Tsipras asked parliament early Saturday to approve his reform proposals to creditors as a "national responsibility" that would keep the struggling nation inside the European Union.
