AHMEDABAD: The Gujarat High Court on Friday reserved its order for Monday on Essar Steel‘s plea against the June 13 RBI circular to banks to act under Insolvency and Bankruptcy Code against the steel major and eleven other firms with over Rs 5,000 crore of outstanding loans each. A bench of Justice S G Shah…
Sears Canada plans on rewarding select employees with retention payments totalling up to $9.2 million while laying off thousands without severance, a move met with public outcry and criticism from some former employees. The Key Employee Retention Plan (KERP) was approved by the Ontario Superior Court of Justice on June 22, when Sears initially filed…
PR dla Zagranicy Pawe Kononczuk 14.07.2017 11:21 Company bankruptcies have risen 15 percent in Poland in the first six months compared to the same period last year, according to a report. Photo: pixabay.com … Read the full article at: http://www.thenews.pl/1/12/Artykul/316278,Bankruptcies-in-Poland-rise
Never let it be said that Rhodri Philipps, 4th Viscount St Davids, fails to observe the niceties of social convention. While gracing a courtroom with his presence recently, and when called upon to stand under the name of Mr St Davids, he remained firmly seated. Because, as the 50-year-old aristocrat duly explained: Im not Mr…
AHMEDABAD: Essar Steel has told the Gujarat High Court that its lenders did not initiate bankruptcy proceedings against the steelmaker before the Reserve Bank of Indias June 13 order because of concerns that such a measure would jeopardise the companys operations. The company, one of the 12 earmarked by the central bank for initiating loan…
MUMBAI: Wind power solutions company Inox Wind is headed for insolvency after the National Company Law Tribunals (NCLT) Chandigarh bench ordered the commencement of the process in response to an operational creditors plea, in the first such case in the renewable energy sector. The company has been facing tough times, reflecting the dichotomy in the…
The ongoing insolvency heat has caught on the renewable energy space with Inox Wind being put under corporate insolvency resolution process. In a rare instance, a customs agent, Jeena & Company, has dragged Inox to National Company Law Tribunal (NCLT) over non-payment of invoices totalling Rs 57 lakh. At the same time, Inox…
Global security group Securitas has revealed that its chief executive was declared bankrupt this week after his identity was hacked. In a statement to investors, the company said that a fraudster had made a fake loan application in the name of Alf Göransson, its 59-year-old president and chief executive. To add to the embarrassment, Securitas said the unfortunate…
Image caption Call Connection, which has offices in Ipswich and London, has appointed BDO as its administrators More than 130 people are expected to lose their jobs after a call centre went in to administration. Call Connection, which has offices in Ipswich and London, has appointed BDO as the administrators. The company, which provides call…
Comments (0) Plymouth people are more incapable of paying off their debts than almost anyone else in the country. The city has one of the highest rates of personal insolvency in the UK, new figures have revealed. Read more: Tough submariners shed a tear as HMS Torbay is retired The Insolvency Service has recorded that as…