NEW DELHI: The NCLAT has said financial creditors cannot recover any amount from a defaulter’s bank account without the nod of the Interim Resolution Professional (IRP) during the corporate insolvency resolution process. Declining relief to the Indian Overseas Bank (IOB) against Amtek Auto‘s IRP Dinnkar T Venkatsubramaniam, the National Company Law Appellate Tribunal (NCLAT) said…
More than five years have passed since the former pharmacy czar and horse racing identity, Rohan Aujard, filed for bankruptcy. But his financial penury is not about to end any time soon. Horse racing played a big part in Nathan Tinkler’s downfall, but not for Rohan Aujard. Photo: Jenny Evans For those whose memories have dulled with time, Aujard probably attracted more press…
FORTUNE is firmly on the up for Kerry Katona who took to Instagram to flog pricey £3,000 beds just months after she joked about being bankrupt. The Atomic Kitten singer has put her creative talents to good use to design a range of the plush circular home furnishings for retailer Monrose Interiors. Her latest collection…
A former high-flying journalist who helped set up fast-growing public relations and investor relations agency Media & Capital Partners is suing the company, claiming it wrongfully dismissed him after he was diagnosed with depression, and is trying to avoid paying him his equity entitlements. In a claim lodged with the Federal Circuit Court of Australia…
Budget deficit may rise in FY18 the credit rating agency said. New Delhi: Lower taxes and higher public expenditure could widen budget deficit in 2017-18, but steps taken by the government to broaden the tax base and improve spending efficiency would help in narrowing it going forward, US-based rating agency Moody’s said. In an interview…
Ireland has one of the most powerful personal insolvency systems in the world, which is good news for people shouldering mounting debts. Although debts come in all shapes and sizes, the biggest problem in Ireland is mortgage arrears. According to the Insolvency Service of Ireland (ISI), while the overall number of mortgage accounts in arrears…
Will China Huishan Dairy’s lurch towards provisional liquidation trigger an exodus of foreign capital from the world’s second largest economy? Major Chinese and international banks are bracing themselves for a bruising battle after the debt-laden Huishan told the Hong Kong stock exchange last week that it had instructed its Cayman legal advisers to prepare documentation to place the…