Insolvency law: SC weighs in on Centre’s side against states in debt recovery process – Financial Express

The Supreme Court on Thursday said that the new insolvency law, being a parliamentary law, will prevail over similar state laws during initiation of the corporate insolvency resolution process by lenders to recover debts from corporate entities. (Photo: Reuters) The Supreme Court on Thursday said that the new insolvency law, being a parliamentary law, will…

Cytori Announces Corporate Restructuring & Cost Reduction Plan – Nasdaq

SAN DIEGO, Sept. 01, 2017 (GLOBE NEWSWIRE) — Cytori Therapeutics (NASDAQ:CYTX) (“Cytori” or the “Company”) today announced a substantial corporate restructuring intended to significantly reduce expenses while maintaining its ability to execute on its BARDA-sponsored cell therapy program, Japanese business and oncology program. The Cytori Habeo program for scleroderma is expected to move…

Ind Bharath moves insolvency petition against TN power utility – Hindu Business Line

Tangedco owes 720 crore to Hyderabad-based groups companies Chennai, September 1:   In a novel approach by a private sector company to collect dues from a public sector utility, the Ind Bharath Group has filed a corporate insolvency petition against the Tamil Nadu Generation and Distribution Corporation (Tangedco) to recover a debt of 720 crore. According…

Anchorage Capital Partners buys mini-Spotless – The Australian Financial Review

There”s certainly no shortage of investors looking to clean up from cleaning up Just days after Downer’s $1.2 billion offer for Spotless came to an end – with Downer lifting its stake to just below the compulsory acquisition threshold – Phil Cave and Callen O’Brien’s Anchorage Capital Partners has signed a deal to acquire TJS Services. Founded by…

Queensland building company in liquidation owing $3.5 million as insolvency experts warn more pain to come in … – SmartCompany.com.au

Liquidators are working to realise the assets of collapsed building company Queensland One Homes in the hope of recouping millions for creditors of the business, as insolvency experts say the east coast of Australia and the construction sector are areas to watch for company collapses. Queensland-based home builder Queensland One Homes Pty Ltd entered liquidation on…

Court of appeals upholds bankruptcy for Vneshprombank’s ex-president – RAPSI

18:03 31/08/2017 MOSCOW, August 31 (RAPSI) The Ninth Commercial Court of Appeals has upheld the bankruptcy of Vneshprombanks ex-president Larisa Markus, sentenced to 8.5 years in a penal colony for embezzling 113.5 billion rubles (about $2 billion), the courts database reads on Thursday. The court has dismissed an appeal of the Deposit Insurance Agency (DIA)…