MUMBAI: Tax recoveries will take a back-seat under the proposed insolvency law. In a bid to boost the sentiment among lenders, even repayment of dues to unsecured creditors has been given a higher priority as against payment of taxes to the government. A close reading of the Insolvency and Bankruptcy Code, 2015 (insolvency bill), shows…
Dec 29 Moscow Exchange: * AKB RBR shares to be excluded from trading as of Dec. 30 due to the fact the company has been declared insolvent Source text – bit.ly/1IAXBWf Further company coverage: (Gdynia Newsroom) Read the full article at: http://www.reuters.com/article/idUSFWN14I00920151229
An Estonian court has formally declared the Baltic nation’s state-owned airline bankrupt after it ceased operations last month following a European Union order to repay millions in state aid. The Harju County Court said Tuesday that the bankruptcy proceedings for Estonian Air are to be carried out immediately, with the first meeting of creditors scheduled…
Molycorp Inc. laid out the financial facts that it says justify allowing it to exit Chapter 11 bankruptcy in trimmed-down form as opposed to being pushed into a liquidation. The Greenwood Village-based rare-earths company says it would be valued at $252 million at most in a liquidation scenario, far from enough to cover more than…