Bankruptcy

Jaypee creditors pick IBC over NARCL’s Rs 10,000 crore offer – ET Infra

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Lenders to debt-laden Jaiprakash Associates Ltd, or Jaypee, will pursue the insolvency route against the company, putting plans to sell the company’s massive debt to government-backed National Asset Reconstruction Co Ltd (NARCL) on the back burner as they hope to fetch better returns for these assets. Jaypee, which owes a group of 32 creditors led […]

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WeWork cleared to exit bankruptcy and slash $4 billion in debt

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By Dietrich Knauth A U.S. bankruptcy judge on May 30 approved WeWork’s Chapter 11 bankruptcy plan, allowing the shared office space provider to eliminate $4 billion in debt(Bloomberg) NEW YORK, May 30 (Reuters) – A U.S. bankruptcy judge on Thursday approved WeWork’s Chapter 11 bankruptcy plan, allowing the shared office space provider to eliminate $4

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Nalwa Steel, BTL EPC bids tied for McNally – ET Infra

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MUMBAI: In a rare occurrence, the voting to select the winner between Nalwa Steel and BTL EPC plan for bankrupt McNally Bharat Engineering resulted in a tie, as both resolution plans received an equal number of votes from lenders, said people aware of the development. Resolution plans given by Naveen Jindal-promoted Nalwa Steel and Power

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Jaiprakash Associates defaults on Rs 4,044-crore loans – ET Infra

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Crisis-hit Jaypee Group‘s flagship firm Jaiprakash Associates has defaulted on loans worth Rs 4,044 crore, including principal and interest amount. In a regulatory filing on Friday, Jaiprakash Associates Ltd (JAL) informed that the company on June 30th defaulted on repayments of a principal amount of Rs 1,660 crore and interest of Rs 2,384 crore. The

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JSW Steel to acquire National Steel and Agro for Rs 621 crore – ET Infra

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NEW DELHI: JSW Steel will acquire flat-steel producer National Steel and Agro Industries (NSAIL) through the bankruptcy court for a cash consideration of Rs 621 crore through its wholly-owned subsidiary JSW Steel Coated Products, the company informed stock exchanges on Monday. The steelmaker had got the approval from the Mumbai bench of the National Company

JSW Steel to acquire National Steel and Agro for Rs 621 crore – ET Infra Read More »

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