In what may be a future relief for corporate debtors facing insolvency proceedings, the Supreme Court used its extraordinary constitutional powers to allow two companies to withdraw from insolvency proceedings and settle their loan dispute despite the case having been admitted by the National Company Law Tribunal (NCLT). Once the NCLT admits a case for…
A dispute between two of the most ambitious new entrants to Australia’s $2 trillion superannuation industry is on the radar of regulators and has enthralled the fintech community. Spaceship, the Millennial-focused super product backed by Atlassian co-founder Mike Cannon-Brookes, is locked in an impasse with its back-end compliance and administration provider, Trustee Partners, which in…
Connecticut Better Business Bureau has issued a warning for students who are over their heads in debt because of school loans. Fake debt collectors reach out to students by telephone and email, offering a variety of ways to reduce or eliminate their debt, but there is a catch. The scammers want to be paid…
Ex-Deputy of Krasnoyarsk City Council Sergey Surtaev has been declared bankrupt; earlier, he had come to the attention of the media due to deferring from military service. The Arbitration Court of the Krasnoyarsk region has declared ex-Deputy of the City Court Sergey Surtaev bankrupt due to a debt of 3 million rubles ($50 thousand). …
Corby in Northamptonshire has taken on a few notable titles over the years. It has been dubbed Little Scotland to reflect the Scottish workers who flooded in during the last century for jobs in its now defunct steelworks. More recently, Corby emerged as the fastest-growing borough outside London, its population now swelled by EU migrants…
Those working in the education profession, or associated with it, know that teachers have always had to wear many hats. Its not uncommon for us to be surrogate parents, social workers, counsellors and advisers to those we teach. But these days its not just the children who look to me for this type of support.…
Indian banks are saddled with bad debt and as the banking industry goes about recovering about Rs 8 lakh crore in doubtful loans, the new Insolvency and Bankruptcy Code is expected to provide the much needed teeth to the financial institutions. Aspects like a time bound recovery period for corporates, simpler ways for creditors to…
Business failure rates in England and Wales dropped to a 17-year low between April and June, official figures show, while personal insolvency rates fell back from highs recorded at the start of the year. Excluding personal service companies, the number of businesses entering insolvency fell by 15.4 per cent compared with the first three months…
The Australian government is still protecting industries that employ a small number of people. This is while the largest employer, the services sector, is subject to the largest tariffs, a recent Productivity Commission report demonstrates. As a whole, manufacturing still receives 77% of net assistance, largely due to the remaining small levels of tariff assistance,…
By: ENS Economic Bureau | New Delhi | Published:July 29, 2017 2:29 am Inox Wind had said it has already settled the dispute with the operational creditor, Jeena & Company a custom agent responsible for providing custom clearance services. The National Company Law Appellate Tribunal (NCLAT) has directed NCLT Chandigarh bench to close insolvency proceedings…