Data from Insolvency & Bankruptcy Board of India shows time taken to come up with a resolution plan is 2.5 times what it was 4 yrs ago. Recoveries are only about 1/3 of claim amounts.
While court order reportedly has recognition in some parts of China, the question is how far would Chinese courts recognise attempts to seize assets of indebted property developer.
Domino’s had entered the Italian market in 2015 through a franchising deal with local company, ePizza SpA. In a country used to thin-crust margheritas, Domino's unsuccessfully marketed pineapple and barbecue toppings.
Diss tracks are supposed to be rife with insults but this one has gone on to reaffirm the code of silence—one that even enemies are willing to uphold within hip-hop’s boys’ club.
Eight months into the war, this is believed to be the first 'international' casualty to be reported. 46-year-old Waibhav Kale joined UNDSS two months ago ‘to make a difference’.
Even in the weeks leading up to Chamkila’s assassination there were massacres every other day. To airbrush all of this is sheer intellectual cowardice if not a crime.
This column is quite shallow and avoids a few key areas where data should have been collected and presented. Increasingly IRP is becoming a rent-seeking profession and together with increased timelines, the columnist should have tracked “loading” of IRP fees in the process. Recently there have been many instances of leading creditors, including banks, challenging expenses incurred by IRP. This data should be easy to get.
Also grapevine talks about “collusion” between IRPs and insolvent parties where “qualifying criteria” for auctions are kept to ensure friendly bidding.
As a result, most creditors today are preferring to go for a bilateral settlement.
In a real estate company case I know of, a particular project’s creditors wanted to dissociate and complete the project in partnership with another builder, but were refused to do so by the IRP. Case is dragging on and asset quality declining, making it lose-lose for everyone but the IRP and the delinquent.
IBC can be reformed by making IBC remuneration fixed, timelines defined and maybe a variable based on recovery % to align with creditor interests. Unless this beast is tamed, creditors have little incentive in getting caught in what is currently a blackhole.
This column is quite shallow and avoids a few key areas where data should have been collected and presented. Increasingly IRP is becoming a rent-seeking profession and together with increased timelines, the columnist should have tracked “loading” of IRP fees in the process. Recently there have been many instances of leading creditors, including banks, challenging expenses incurred by IRP. This data should be easy to get.
Also grapevine talks about “collusion” between IRPs and insolvent parties where “qualifying criteria” for auctions are kept to ensure friendly bidding.
As a result, most creditors today are preferring to go for a bilateral settlement.
In a real estate company case I know of, a particular project’s creditors wanted to dissociate and complete the project in partnership with another builder, but were refused to do so by the IRP. Case is dragging on and asset quality declining, making it lose-lose for everyone but the IRP and the delinquent.
IBC can be reformed by making IBC remuneration fixed, timelines defined and maybe a variable based on recovery % to align with creditor interests. Unless this beast is tamed, creditors have little incentive in getting caught in what is currently a blackhole.