1.0 INDIAN BANKING SYSTEM A banking company in India has been defined in the banking companiesact,1949.as one “which transacts the business of banking which means the accepting, for the purpose of lending or investment of deposits of money from the public, repayable on demand or otherwise and withdraw able by cheque, draft, order or otherwise.” […]
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Just weeks after the FTC’s orders to shut down American Tax Relief for cheating taxpayers out of million, the Federal Trade Commission (FTC) is slated to enact the “debt relief service” amendments to the Telemarketing Sales Rule (TSR) that the FTC now says applies to the tax relief industry as well to reign in the […]
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The recent receivership of Skyservice Airlines Inc. highlights the importance to airline creditors of having in place a certain, easily understandable and uniformly applied regime regarding the perfection and priority of various interests in aircraft. The Convention on International Interests in Mobile Equipment, together with the Protocol to the Convention on International Interests in Mobile Equipment in […]
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Anyone who perceives the syndicate agent appointment and related provisions in credit agreements as mere boilerplate, relatively unworthy of close attention, is likely doing themselves a disservice. The following is a brief overview of a few occasionally overlooked points. Agent for Non-Signatories The parties on whose behalf the agent is to act (collectively, the “creditors”) […]
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OSFI Superintendent Julie Dickson delivered a speech to the Trust Companies Association of Canada. The speech was focused on highlighting certain governance issues especially relevant to smaller financial institutions. The following issues were discussed: Lack of Diversification: Because smaller financial institutions generally have a lack of diversification in product lines and operations, there is little room for […]
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