Green-Light International has declared bankruptcy following a blistering arbitrators ruling that found that the foreign sales agent committed acts that bordered on criminal fraud. The company was accused of pocketing $410,000 from distributors that should have gone to a collection account, and using the money for salaries and a lavish post-Cannes Film Festival vacation in…
Credit: Bloomberg News Most Popular Jawbone is liquidating, though its CEO is starting again with a company that moves out of the fitness-tracker business in favor of health-related products, an area that deeper-pocketed rivals also are entering. Founded in 1999, Jawbone was once a darling of Silicon Valley and regarded as a pioneer in wearable…
U.S. Businesses Restructuring Operations to Reap Future Financial Success Automation, cloud services and Big Data are rapidly transforming the business-critical function, allowing finance executives to feed in real-time updates to forward plan and steer the direction of a business. Finance executives are increasingly using data analytics when it comes to accounting. The ability to convert…
Written by Khushboo Narayan | Mumbai | Published:July 11, 2017 2:57 am Representational image The Chandigarh bench of the National Company Law Tribunal (NCLT) has issued a notice to Amtek Auto in connection with the petition filed by Corporation Bank against the firm under the Insolvency and Bankruptcy Code. The tribunal has told Amtek Auto…
Emma Kennedy , [email protected] Published 3:10 p.m. CT July 10, 2017 | Updated 3:22 p.m. CT July 10, 2017 CLOSE The remains of Drulmauert Mims was found Wednesday, June 28 in the backyard of a Warrington home. Emma Kennedy/[email protected] Buy Photo State attorney Bill Eddins, right, announces the arrest of Desiree Tedder for the death…
KOLKATA: Lenders to beleaguered Electrosteel Steels have urged the National Company Law Tribunal (NCLT) to admit insolvency proceedings against the West Bengal-headquartered company. Electrosteel Steels, which owes more than Rs 10,200 crore to an SBI led consortium of lenders, is among the 12 cases identified by the Reserve Bank of Indias (RBI) advisory panel for…
Floyd Mayweather has never been shy about flaunting how much money he has, but paying his debts to the government is a different story. According to a report from ESPN, Mayweather has said he will not be able to pay off a tax liability from 2015 until after his upcoming fight with Conor McGregor. Darren…
Joshua Paul/Associated Press The International Olympic Committee (IOC) has no interest in helping the city of Rio de Janeiro clear a debt of roughly $35-40 million from last year’s Olympic games. Per the Associated Press (via Sports Illustrated), the organisation’s executive board made the decision after a meeting in Switzerland on Sunday. In a statement, the IOC…
The RBI has directed lenders of Lanco to initiate corporate insolvency proceedings against the company under the Insolvency and Bankruptcy Code Mumbai, July 10: A week after New Delhi-based Hindustan Powerprojects encashed bank guarantees of Lanco Infratech worth 500 crore, due to unfulfilled contractual obligations at the latters 2,520MW Anuppur thermal power plant, the sub-contractors…
More than seven in 10 Canadians rate their ability to budget for an interest rate increase of one percentage point as less than optimal, a nationwide survey found. The prospect of climbing rates has nearly half of Canadians on edge, according to a recent Ipsos poll conducted by MNP, which runs one of the largest personal insolvency…