The NCLT bench heard the arguments raised by both the parties and reserved the order. The Chennai bench of National Company Law Tribunal (NCLT) on Tuesday reserved order on the insolvency case filed against the now-defunct homestay start-up Stayzilla by city-based Jigsaw Solutions. The NCLT bench heard the arguments raised by both the parties and…
September 12, 2017 18:44 ET | Source: Seadrill Partners LLC London, United Kingdom, September 12, 2017 – Seadrill Partners LLC (“Seadrill Partners” or the “Company”) announces today that the Company’s largest shareholder, Seadrill Limited (“Seadrill”), has entered into a restructuring agreement with secured lenders, bo… Read the full article at: https://globenewswire.com/news-release/2017/09/12/1118428/0/en/SDLP-Seadrill-Limited-Restructuring-Update.html
Members of boards of directors will now have to have unique director identification numbers as a way of combating phoenix companies where businesses are sent broke but their assets rise again in another company. The federal government says illegal phoenixing costs the economy up to $3.2 billion a year. Among the latest measures are making…
Written by Sunny Verma | New Delhi | Published:September 13, 2017 3:13 am The law requires majority of directors of a company to initiate the process of voluntary liquidation. Apart from permitting initiation of insolvency resolution process for highly indebted companies that are unable to pay back their debts, the Insolvency and Bankruptcy Code, 2016…
The recent SC order against Jaypee Infratech raises serious concerns regarding the Code’s adequacy in dealing with defaulting realtors Photo: Reuters … Read the full article at: http://www.business-standard.com/article/economy-policy/insolvency-code-home-buyers-plight-and-how-realty-firms-should-be-treated-117091200223_1.html
A sick-out by Air Berlin Plc pilots is threatening an immediate grounding of the insolvent airline. What happened today massively jeopardizes the entire insolvency proceedings, Frank Kebekus, the airlines general representative appointed by a court, said in a statement Tuesday. Unless the situation changes in the short term, we will have to end operations and all…
A family shops at the Wal-Mart Supercenter in SpringdaleThomson Reuters CHICAGO (Reuters) – Wal-Mart Stores Inc is restructuring its U.S. store operations and will consolidate its business divisions from six to four, the company said on Tuesday. “Our last field restructure was several years ago and our business has changed over that time,” the company…
JUST 10 South Australians owe taxpayers almost $2 million in combined university debts, new analysis reveals. The Advertiser can reveal the South Australian most in the red needs to pay back $224,218 equivalent to the cost of about eight four-year nursing or teaching degrees. Education Department figures also show almost 180,000 South Australians have debts…
September 12, 2017 In the wake of Alexion Pharmaceutical’s announcement it will move its New Haven headquarters to Boston, state officials said Tuesday they want back more than $26 million in incentives Alexion received from Gov. Dannel P. Malloy’s First Five Plus economic incentive program. The incentives included a $20 million loan and $6 million…
MORE than 1700 South Australians have successfully taken on Centrelinks automated robo-debt system and been cleared of owing money or had their debts reduced. Nationally, almost 20,000 Centrelink clients who were advised the could owe the Government money due to welfare-overpayments had subsequently had their debts reduced or scapped, figures released in federal Parliament reveal.…