Mark Sands Restructuring and recovery specialist Quantuma has appointed a new partner from Baker Tilly Creditor Services, part of RSM. Mark Sands will be based at the firm’s Brighton office but will also work across Southampton and London. He is a former president of the Insolvency Practitioners Association, sits on the personal insolvency committees of…
Social democracy has proven to provide the best balance of prosperity, justice and sustainability, Sachs says. Sustainable development means an economy that is prosperous, fair and environmentally sustainable. That is the perfect framework for Greeces economic recovery. That is how celebrated American economist and Columbia University professor Jeffrey Sachs explains the significance of the…
Domestic lenders have launched aggressive steps to start insolvency proceedings against the companies named in the Reserve Bank of Indias second list of defaulters recommended for insolvency proceedings. While many of the companies named in the second list are making desperate attempts to get their debt restructured, top lenders are preparing to file insolvency proceedings…
Balcatta-based electrical, fire and security service provider Global Electrotech has gone into liquidation after creditors appointed DCS Advisory to the failed business, which owes about $1.2 million. Global Electrotech fell into the hands of WA Insolvency Solutions as administrators in 2013, but gained control several months afterwards with a deed of company arrangement, while the…
Troubled civil construction and mining services business Brierty has been placed in voluntary administration after failing to secure what it considered to be an adequate pipeline of future work. Brierty, which has failed to recover from both the mining downturn and cost blowouts on a Main Roads project last year, said it had appointed Matthew…
The Noida authority and the homebuyers of Amrapali Silicon City may challenge the order of the National Company Law Tribunal (NCLT) of initiating insolvency proceedings against the fund-starved builder in the Supreme Court. The NCLT on Monday accepted Bank of Barodas insolvency plea against Amrapali Silicon City in Sector 76, Noida. The bank initiated the…
Police say Miles has made full admissions. Steelers boss Scott Miles has admitted he fleeced the club of up to $1 million, in order to feed an secret gambling habit. Court documents reveal the since-sacked GM began siphoning money from the club in 2010, after taking out more than 11 credit cards, two personal loans and a…
On 4 September, a Supreme Court bench comprising Chief Justice Dipak Misra and Justices Khanwilkar and Chandrachud granted an interim stay on the order of National Company Law Tribunals (NCLT) bench at Allahabad in the insolvency case against Jaypee Infratech, an infrastructure and real estate company. The NCLT had ordered the proceeding under the Insolvency…
Question: My family business has been operating successfully for nearly 20 years. Over time I have also managed to get a few investors into the business. The last year, however, has been tough and we are struggling to make ends meet. I feel it is decision time about the future of the business, but…
House Majority Leader Kevin McCarthy (R-Calif.) said Tuesday that the House won’t attach a debt ceiling hike to a bill to fund relief efforts for Hurricane Harvey, just days after the Trump administration called for pairing the two. McCarthy told Fox Business on Tuesday that the Harvey relief bill will pass the House on its own,…