India’s bankruptcy law faces a vital test as creditor banks vote on a winning bid for the ...

India bankruptcy law faces vital test with DHFL creditor vote – Financial Times

India’s bankruptcy law faces a vital test as creditor banks vote on a winning bid for the first financial company to go through insolvency resolution, a process pitting US distressed-debt fund Oaktree Capital against India’s Piramal Group. Real estate lender Dewan Housing Finance Corporation, known as DHFL, was the first financial group forced into insolvency in November 2019 after defaulting on about $12bn in debt. Authorities hope a successful resolution will create a new avenue to clean up India’s fragile …


 


 

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