NBN, Vodafone contractor Daly International owing millions spared from liquidations – CRN Australia

Bankruptcy

Former NBN contractor Daly International has been spared liquidation after its director Peter Daly agreed to pay the troubled companys creditors the proceeds of sales of company assets and guarantee a cash payment for an additional $900,000. The two payments are the key financial terms of a company deed that Daly successfully put to creditors…

India: Promoters look to stay close as companies begin insolvency process – DEALSTREETASIA

Bankruptcy

July 12, 2017 Promoters of some companies where insolvency and bankruptcy proceedings have been triggered are taking on operating roles to remain close to the action when the insolvency professional takes over. Take, for instance, Bhushan Steel Ltd, one of the 12 companies which the Reserve Bank of India has identified for triggering the Insolvency…