ONLY 1,022 out of 3.6 million credit card holders have been declared bankrupt for failing to settle debts from January to June this year, says Deputy Finance Minister Datuk Othman Aziz. A majority of them were aged 45 and above, and only 10 of them were between 21 and 30 years old, he added. To…
Under the proposed new rules a business would be given up to four months “breathing space” from enforcement actions from creditors to give it time to negotiate debt restructuring, the Commission said. Minority creditors and shareholders should not be able to block restructuring plans, although their “legitimate interests” will be protected, it said, while workers…
By: ENS Economic Bureau | Mumbai | Published:November 25, 2016 3:21 am Model bye-laws, governing board of Insolvency Professional Agencies notified. The stage has been set for the introduction of a new category of professionals in India who will deal with the process of insolvency in the country. In a move that will speed up…
Divorce is tough. No one really walks into it thinking, “Oh, this will be a walk in the park!” It’s an emotional rollercoaster, with everything from heartache to headache – especially when it comes to the financial settlement after divorce. But here’s the thing: even though the emotional toll is high, it doesn’t mean the…
NEW DELHI: Indian government is pushing state-owned steel, power and shipping firms to take over assets of private companies that have defaulted on loans, but faces resistance from them, leaving it scrambling to clear a $135 billion pile of stressed loans from banks’ books. Over the past two years, Prime Minister Narendra Modi’s government has…
The Insolvency and Bankruptcy Board of India (IBBI), the apex regulatory body under the new bankruptcy code, has constituted two high-profile panels to advise it on key issues on the upcoming framework, which the government and various stakeholders see as a key reform. The advisory committees, which have representation…
A Taiwanese film titled “Betelnut Girls“() which tells the story of a single mother who while working as a “betel nut beauty” to make a living for her son, develops a romantic relationship with rookie cop, will be opening tomorrow Nov. 25 in theaters across Taiwan. The term betel nut beauty () is used to describe…
Leipzig-based sales company Deckert Distribution has acquired worldwide sales rights to Levan Koguashvilis Gogitas New Life, a production from Koguashvilis own label Kino Iberica in Georgia, made in co-production with Croatias Embrio Russias Moskvitch Studio and Tato Film, based in the Ukraine. Selected for Karlovy Varys Docu Talents workshop this year, Gogita follows a mans…
Communication solutions provider ShoreTel has announced four major internal appointments to its ANZ business as the company focuses on scaling up its cloud services while maintaining its onsite business. The four appointments will form the basis of the organisation’s restructuring into four business units: Channels, Client Sales, Customer Success and Service Design and Activation. Each…
The IBBI has notified two sets of regulations. The Dollar Business Bureau The Insolvency and Bankruptcy Board of India (IBBI) on Wednesday notified two regulations; one of them will allow not-for-profit companies having a minimum net worth of Rs 10 crore to act as an insolvency professional agency under the Insolvency and Bankruptcy Code. The…