HDFC Banks senior official has cautioned on use of the Insolvency and Bankruptcy Code (IBC) as various banks rush in to file large corporate non-performing loan accounts to the insolvency courts. “In general, the Code is good and one more resolution mechanism that has timeline around it. However, it should be used with prudence and…
News Jessica Fino 8 Aug 2017 02:33pm An insolvency practitioner has been given an eight-year bankruptcy restriction undertaking … Read the full article at: http://economia.icaew.com/en/news/august-2017/insolvency-practitioner-given-eight-year-bankruptcy-extension
Moneycontrol News As the Insolvency and Bankruptcy Code (IBC) comes into force this August, insolvency professionals are now rushing to buy insurance for themselves, as per a LiveMint report. But there’s one roadblock. General insurers in the country presently do not offer insurance cover for an insolvency practitioner. Currently, there is no personal indemnity cover for me. But…
A TOTAL of 28 Coffs Harbour residents have declared bankruptcy or have gone into debt within three months. The Australian Financial Security Authority have released the latest quarterly personal insolvency statistics, revealing the number of residents who became bankrupt or entered debt or a personal insolvency agreement between April 2017-June 2017. The statistics only include…
LONDON (Reuters) – An alleged million-dollar pyramid scheme which is registered in Britain has gone into liquidation, the first step in the process of recovering its assets and distributing them to creditors. Reuters reported last year how the venture, known as EuroFX, allegedly scammed thousands of investors in China and other countries. EuroFX had a…
Too big, too expensive: Six reasons why Topshop flopped MELBOURNE, AUSTRALIA – JULY 30: People walk past the exterior of the new Top Shop multi-storey retail store at Emporium Melbourne on July 30, 2014 in Melbourne, Australia. (Photo by Scott Barbour/Fairfax Media via Getty Images) exit Six years after entering the Australian market with much…
Why directors mustn’t ignore warning signs on the viability of their business BelfastTelegraph.co.uk It would appear that the only certainty in the current pre-Brexit, politically paralysed climate is uncertainty itself. In the short term, the consensus view is that business owners and directors can expect to have to navigate an economic landscape that may change…
Investigations Remgro responds to allegations of contrived liquidation. Thelo Wakefield (left) and Paul Zacks (right). Picture: Moneyweb Western Province Rugby was rocked by news over the weekend that its erstwhile minority shareholder, Remgro, had declined to take up a shareholding in the unions new commercial arm following the successful liquidation of Western Province Rugby (Pty)…
DENVER Nearly 4,000 students in Denver will head back to class at the end of the month with a lighter load, they wont be carrying school lunch debt. The KidsGiving365 organization answered the call from the FOX31 Problem Solvers to join the effort to pay off the nearly $14,000 in hot lunch debt, owed to…