RIO DE JANEIRO (AP) — Almost a year after the Rio de Janeiro Olympics, Brazilian organizers are asking for help from the International Olympic Committee to satisfy creditors who are still owed about 130 million reals ($40 million). A spokesman for the Rio organizing committee says officials will meet next week at IOC offices in…
KOLKATA/MUMBAI: The debt resolution process for Nicco Corporation, one of the first movers to the National Company Law Tribunal (NCLT) after creation of the Bankruptcy Code, is still hanging in the balance with its lenders suggesting the company to rework the resolution plan, according to sources close to the development. This has also put Indias…
Mumbai, Jul 5 () Embattled businessman Jignesh Shah promoted Atom Technologies will no longer issue pre-paid cards as it has surrendered its licence as a payment system operator to RBI citing business restructuring. However, the company will continue to remain operational in other verticals like merchant aggregation and payment services across various channels like point…
True Religion’s denims have fallen out of style. True Religion U.S. denim retailer True Religion Apparel Inc said on Wednesday it filed for bankruptcy protection and signed a restructuring agreement with a majority of its lenders. True Religion, a company whose denims have gradually fallen out of style, filed for creditor protection under Chapter 11…
Image source: Getty Images. Chances are that credit card holders who end up in debt are missing the mark on hitting budgeting goals and maintaining an overall good sense of debt hygiene. If that sounds like you, implementing a simple budgeting plan could help pay off debt faster. The Motley Fool analysts Michael Douglass and…
The fundraising agency, now known as Bluefrog Fundraising, went into liquidation in April, owing more than £2m in backdated VAT The fundraising agency Bluefrog has reformed after going into liquidation owing more than £2m to HM Revenue & Customs. Bluefrog Ltd, which was founded in 1997 and whose clients included the RSPB, Marie Curie and…
Jaeger going into administration is a warning to know the law on consulting over collective redundancies in the event of employer insolvency. Ray Tang/REX/Shutterstock Jaegers problems are the latest warning for employers to know their duties to staff in cases of employer insolvency. Chris Weaver offers legal advice. Fashion chain Jaeger going into administration…
HYDERABAD: In a fresh round of trouble for the beleaguered media group Deccan Chronicle Holdings Limited, the Hyderabad bench of National Company Law Tribunal (NCLT) today accepted a plea by the Canara Bank, seeking initiation of insolvency resolution process and has asked the bank to appoint an interim resolution professional (IRP). Sources in the bank…
Wednesday, July 5, 2017 The local business environment has lost at least 100,000 companies and 15% of firms with incomes over 1 million euros since 2008. At present a third of active firms are likely to enter insolvency, according to a Coface Romania study. Only the most powerful have survived, but most companies were affected…
Bankruptcy is central to this governments worldview, said Principal Economic Adviser to the Ministry of Finance Sanjeev Sanyal, addressing an audience on the sidelines of the International Conference on the New Corporate Insolvency Regime. It is central to the vision of Prime Minister Modis idea of a New India, based on entrepreneurship, innovation, risk-taking and…