By Lisa Mcloughlin For Mailonline Published: 06:07 AEDT, 28 November 2017 | Updated: 06:13 AEDT, 28 November 2017 e-mail View comments His financial woes hit the headlines in June after it was reported that he never paid back an undisclosed debt to a private bank. And now Boris Becker, 50, has insisted that his bankruptcy was…
By Arijit Barman Last weeks new insolvency Ordinance, barring all wilful defaulters, or incumbent promoters with bad loans for ayear or more, from the auction process to repurchase their asset if they fail to clear all overdues is great polemics. But emotions aside, it may end up bankrupting the banks even more. Auctions have to…
NEW DELHI: The insolvency ordinance provides a level playing field to all parties interested in participating in the resolution process and there are enough players to ensure that competitive bids are made for stressed assets, said government officials, as they defended the new measures that prevent errant promoters from trying to reacquire assets till they…
STUTTGART (Reuters) – The founder of Germany’s failed Schlecker drugstore chain got a suspended sentence and his two children got jail terms on Monday for taking money from the company before its collapse. Founder of collapsed German drugstore chain Schlecker gets suspended prison term Workers who lost their jobs when the firm shut its stores…
Indian lenders may oppose the move at NCLT as they are close to taking 51% in the firm Mumbai, November 27: More trouble is brewing for debt-ridden Reliance Communications (RCom), with China Development Bank (CDB) filing an insolvency case against the telecom company, a move that would be opposed by Indian lenders. CDB, a lender…
Few expect the Eastern Partnership (EaP) summit to give new a life to the largely stalled programme of the European Unions engagement in its Eastern neighbourhood. The EaP has been reduced largely a discussion of technicalities and bland, aspirational statements. It should be more than that. How the EU works, or does not work, with…
Following news of impending layoffs and disastrous financial performance, the new CEO of generics giant Teva Pharmaceuticals is booting old executives and bringing up a new team to lead the troubled companys restructuring efforts. Kåre Schultz Kåre Schultz, who took the reins at Teva earlier this month, has made staffing cuts his first big move.…
WASHINGTON, Nov. 27, 2017 /PRNewswire/ — Global law firm Ropes & Gray announced today that Ama Adams has joined its business & securities litigation practice as a partner in the firm’s Washington, D.C. office. Ms. Adams brings to Ropes & Gray a strong practice with a focus on international transactions and the U.S. government’s regulation of…
The National Company Law Tribunal has for the first time directed that a liquidator be appointed in place of an existing resolution professional in the case of a company which has no feasible resolution plan in sight, marking a new chapter in the evolving Insolvency and Bankruptcy Code. The tribunal has directed the winding up…
Few expect the Eastern Partnership (EaP) summit to give new a life to the largely stalled programme of the European Unions engagement in its Eastern neighbourhood. The EaP has been reduced largely a discussion of technicalities and bland, aspirational statements. It should be more than that. How the EU works, or does not work, with…