Copper-focused Tiger Resources has secured a $US18.2 million ($A22.9 million) facility agreement with two of its existing lenders, to fund ongoing work it its Kipoi operation in Africa whilst it pursues recapitalisation plans. Perth-based Tiger said the facility provided interim funding to support its ongoing operations at Kipoi, as well as the development of an…
The banking industry has sought exemption from shareholder approval for change in capital structure or sale of assets or company during insolvency proceedings. Indian Banks’ Association (IBA), the umbrella body of banks, has sought the intervention of Insolvency & Bankruptcy Board of India (IBBI) to address a number of issues that may crop up while…
ET Bureau| Sep 26, 2017, 12.49 AM IST Amrapali Infrastructure is into leasing of construction equipment and has a factory in Greater Noida that makes hollow core slabs and column beams for affordable housing projects. NEW DELHI: The principal bench of the National Company Law Tribunal (NCLT) on Monday admitted an insolvency petition against Amrapali…
Only a few days after heaving a collective sigh of relief when Hurricane Irma narrowly skirted Puerto Rico, the U.S. territory has suffered its worst storm in a century. The passage of Hurricane Maria over the islands that comprise Puerto Rico has led to a massive breakdown in infrastructure of all sorts. From electricity to…
Provisions of the Limitation Act, 1963, should apply to the proceedings under the Insolvency and Bankruptcy Code, 2016 by virtue of Section 433 of the Companies Act, 2013, since the NCLT and the NCLAT are the creation of the Companies Act, 2013 Recently, in the case of Neelkanth Township and Construction Pvt Ltd vs Urban…
AIG to restructure into three new units, marking CEO’s first big move By Suzanne Barlyn and Sweta Singh (Reuters) – American International Group Inc said on Monday it will reorganize into three new units and will no longer have separate commercial and consumer businesses, marking the first major strategic move by new Chief Executive Officer…
A petition to all creditors, including the IMF IMFInternational Monetary Fund Along with the World Bank, the IMF was founded on the day the Bretton Woods Agreements were signed. Its first mission was to support the new system of standard exchange rates. When the Bretton Wood fixed rates system came to an end in 1971,…
Aerialtronics’ Altura Zenith Drone Volt, a France-based manufacturer of drones, has announced it is buying the assets of Dutch unmanned aircraft systems (UAS) company Aerialtronics, which recently announced it would be seeking partners and investors following a solvency procedure. Drone Volt, taking majority control of Aerialtronics, says the strategic acquisition will strengthen its own position…
SolarWorld said Monday that it plans to hire back some of the workers it laid off last summer, following a favorable ruling last week from the U.S. International Trade Commission. However, any significant hiring may still hinge on action from President Donald Trump, who must consider whether to slap tariffs or other penalties on solar…
Battle of the Sexes is a buoyant piece of propaganda about a buoyant, propagandistic episode in American culture: the 1973 tennis match between 55-year-old Bobby Riggs a self-proclaimed chauvinist pig who crowed that women shouldnt play on the same courts as men and 29-year-old Billie Jean King, a crusader for womens rights and a budding…