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INSOL Europe Turnaround Wing Guidelines now published

The 'INSOL Europe Turnaround Wing Guidelines for Restructuring and Turnaround Professionals' have now been published. The guidelines were developed in 2015 by INSOL Europe’s Turnaround Wing, through…

Annual Congress 2016 - Lisbon - Registration Now Open!

Annual Congress 2016 - Lisbon - Registration Now Open!

EECC Conference 2016 Registration Now Open

EECC Conference, Cluj-Napoca, Romania, 12 & 13 May 2016: Online Registration Now Open!

INSOL International Graduates

INSOL International is pleased to announce the sixth graduating class of the Global Insolvency Practice Course. The successful participants are now formally recognised as a Fellow, INSOL International.

News
Greece has told its European and IMF creditors it cannot implement some of the extra changes sought in exchange for fresh bailout loans, sources close to the talks said yesterday. The Pension Protection Fund (PPF), the lifeboat set to rescue BHS pensioners and possibly those of British Steel, may also have to take on the 33,000 UK pensioners of bankrupt Canadian telecoms giant Nortel Networks. Nortel's British pensioners are one of three groups of creditors wrangling over $7.3bn (£5bn) worth of assets. The long-running battle boils down to whether Nortel’s US units have to share the money with UK and Canadian divisions. A Canadian court ruled in May last year that UK creditors... MOSCOW, May 30 (Reuters) - Shareholders of indebted Russian coal and steel producer Mechel approved on a second attempt a series of debt restructuring deals with major creditors, Mechel said in a... Reported by Reuters 2 hours ago. MOSCOW, May 30 (Reuters) - Indebted Russian coal and steel producer Mechel said on Monday that its shareholders had approved a series of debt restructuring deals. Reported by Reuters 48 minutes ago. More than 1,000 companies have sought to have their bankruptcy proceedings suspended since the beginning of 2015, but experts warn that the misuse of the condition could lead a domino effect in the economy The new public procurement law that has been enforced starting May 26 poses serious challenges for companies that are under administration, according to insolvency consultancy CITR. Up to now companies that were in the observation or reorganization stage couldn’t have been barred from submitting bids in public tenders. Under the new rules, a company that is insolvency has to prove that it can finish a project awarded by the state, but it’s unclear how the authorities will carry out this analysis. “A... Many dairy farmers work long hours though their pay is dropping and a growing number of farms are going bankrupt. They have a low opinion of subsidies. DW's Jan Walter spoke to a dairy farmer in western Germany. He called for Konrad Mizzi’s resignation over his Panama company, but Labour MEP Alfred Sant tells Kurt Sansone Malta’s bigger problem is the perception in Brussels, pre-dating Panama Papers, that it is a tax haven. The EU executive has long advocated corporate tax harmonisation across the bloc. Has Panama Papers strengthened those voices in Brussels? Yes, but they didn’t need much strengthening. There has always been this drive to harmonise financial systems within the EU, especially now with the... Greece has agreed to a deal to unlock a further €10.3 billion in loans from its international creditors, after talks in Brussels. Eurozone finance ministers agreed on debt relief for Greece, lengthening the repayment term and capping interest rates. Greece required this tranche of debt relief to meet the repayments due in July. The country’s total debt burden amounts to more than €300 billion – about 180 per cent of its annual GDP which, according to the International Monetary Fund, is unsustainable. The... At the end of April 2016, non-government corporate and household loans granted by credit institutions stood at 216.4 bln lei, 0.1 percent higher compared to the month before and 3 percent higher year-on-year, shows a  release of the National Bank of Romania (BNR). ‘At end-April 2016, non-government loans granted by credit institutions edged up 0.1 percent (0.2 percent in real terms) from March 2016 to 216.439 billion lei. RON-denominated loans advanced 1.7 percent (1.8 percent in real terms), whereas...
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