Bids may go online for companies facing bankruptcy

Bids may go online for companies facing bankruptcy
21/05/2018 , by , in News/Views

The government is looking at a new mechanism for financial bids for companies facing bankruptcy action to make the process more consistent and end confusion in the resolution process.

A “hybrid model” is being considered, where the top three contenders based on technical parameters will bid through an online system. This will also help maximise value of the asset for banks, which may have to settle loans at less than the face value, in addition to increasing transparency in the process.

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