Bankrupt Banking

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The Biggest Obstacles for Bitcoin’s Full Legalization

Zerocrypted 23 Jul 2019

Banks depends on their clients ... If all the clients would leave a bank, they will go bankrupt in a few days or weeks – at best ... With a bank, you don’t have this stress – unless the bank goes bankrupt – then there’s a possibility to lose everything.Conclusion. Banks and Bitcoin can work together, in my opinion....

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These 10 billionaires have all gone broke or declared bankruptcy - read the wild stories of how they lost their fortunes

The Times of India 22 Jul 2019

In 2011, the Albemarle winery was bought by Donald Trump for a fraction of what it was worth after being seized by Bank of America ... Stanford's crimes began after a Texas fitness club he owned went bankrupt — he then turned to offshore banking and began operating his scheme....

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Insolvency administrator invites resolution plans for Jet Airways

Arabian Business 21 Jul 2019

Last month the National Company Law Tribunal agreed to hear an insolvency case and once Jet Airways is declared bankrupt the chances of any meaningful recovery by the banks diminish ... in the early 1990s, fell victim to a cut-throat price war initiated by a slew of budget carriers and eventually defaulted to banks, staff and lessors....

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Resolution plans mooted for Jet Airways

Gulf News 20 Jul 2019

is seeking resolution proposals for the grounded airline in a move that may give hope to creditors, including State Bank of India ... Last month the National Company Law Tribunal agreed to hear an insolvency case and once Jet Airways is declared bankrupt the chances of any meaningful recovery by the banks diminish....

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Jet Airways: Insolvency administrator invites resolution

Financial Express 20 Jul 2019

Last month the National Company Law Tribunal agreed to hear an insolvency case and once Jet Airways is declared bankrupt the chances of any meaningful recovery by the banks diminish ... ....

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QBiz: RBI Guv Raps PSBs Over Rate Cut; Markets Slip on FM’s Stance

Yahoo Daily News 20 Jul 2019

RBI Governor Shaktikanta Das Takes Public Sector Banks to Task on Rate Cut ... During the past two days, the airline’s CoC, led by the State Bank of India (SBI), also voted on other resolutions, including calling for bids for bankrupt Jet Airways’ asset sale and admission of claims by creditors....

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United Bank parent reports loss tied to bankrupt solar company

Journal Inquirer 18 Jul 2019

One day after announcing plans to combine with longtime rival People’s United Bank, the parent company of Hartford’s United Bank disclosed a $15 million probable loss tied to the regional lender’s investment in a now bankrupt solar energy equipment supplier ... ....

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Cabinet approves eight amendments to IBC for easier resolution

Live Mint 17 Jul 2019

The proposal will help secured creditors of bankrupt Essar Steel Ltd, led by State Bank of India, that have challenged in the Supreme Court a ruling by the National Company Law Appellate Tribunal that Essar Steel’s operational creditors have to be treated on a par with financial creditors at the time of settling claims....

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Allahabad Bank Reports Rs 689-Crore Fraud

NDTV 17 Jul 2019

Earlier this month, Allahabad Bank had flagged a $259 million fraud by bankrupt steelmaker Bhushan Power & Steel Ltd ... ....

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Consorcio ARA: A Deeply Undervalued Mexican Homebuilder

Seeking Alpha 17 Jul 2019

The company invests in land for development known as a land bank ... At the end of 2018, it had a land bank of 33.6 million square meters ("SQM") with a cost of MXN4,590 million ... If a homebuilder takes on too much debt during cyclical upturns, land bank write-downs combined with weak profitability may bankrupt the company....

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Bhushan Power fraud: Allahabad Bank stocks end 7% lower

Sify 16 Jul 2019

The shares of Allahabad Bank closed 7.74 per cent lower on Monday after the bank during the weekend reported a Rs 1,774.82 crore fraud by the now-insolvent Bhushan Power & Steel Ltd (BPSL) ... Allahabad Bank became the second public sector bank after Punjab National Bank to report of a borrowal fraud by the bankrupt steel company....

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Allahabad Bank slumps; reports alleged fraud by bankrupt steelmaker

Business Line 15 Jul 2019

The bank, on Saturday, became the second state-owned bank to report a major alleged fraud by bankrupt steelmaker Bhushan Power & Steel Ltd this month....

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Allahabad Bank reports USD 259 mn alleged fraud by Bhushan Power & Steel

Deccan Chronicle 15 Jul 2019

The Allahabad Bank on Saturday became the second Indian state-owned bank to report a major alleged fraud by bankrupt steelmaker Bhushan Power & Steel Ltd this month, adding to concerns about a banking industry burdened with bad debts. Allahabad Bank said in a statement that it ......