More than a year after the Insolvency and Bankruptcy Code (IBC), 2016, was put in place, here is a look at the emerging trends of the cases in the courts so far. With 470 cases admitted by the National Company Law Tribunal (NCLT) under the IBC, most experts are keenly watching the outcome of the…
NEW DELHI: The government will give promoters of insolvent companies more time to repay their dues and participate in the resolution process of bankrupt companies in the Bill that will replace the ordinance that was promulgated last month to amend the Insolvency and Bankruptcy Code (IBC), ET has learnt. The changes proposed in the Bill…
Capping a breakout year, Roku announced Scott Rosenberg will be promoted from advertising chief to GM of its platform business in January in an executive restructuring. Steve Shannon, a 5-year veteran who headed the content and services unit, will be exiting the company. Under Rokus new executive structure, staff and resources for advertising, content distribution…
John McDonnell has said the UK is in the grip of a personal debt crisis with levels of unsecured borrowing predicted to hit a record of £19,000 per household by the end of this parliament. The shadow chancellor said the increase in debt, to more than £14,000 per household this year, was alarming. Analysis from…
Banks will be pressed to take stakes in family homes next year in swaps for mortgage debt as part of a push to resolve some of the most distressed personal insolvency cases. The first cases involving the use of so-called debt-for-equity swaps are expected to be decided by the courts in 2018 as the little-known…
A Rockingham security company has been forced to repay more than $200,000 to its employees after under-paying them for just over 12 months. Sureguard Security Pty Ltd landed in the Federal Court of Australia over the underpayments, and was fined last week for the offences which affected 22 employees. A security company has been forced…
LONDON: Barclays expects to take a writedown of about £1 billion ($1.34 billion) on its annual post-tax profit as a result of the US tax overhaul, the bank said in a statement on Wednesday.The reform to the tax system signed into law by President Donald Trump on Dec. 22 will force the British lender to…
Ms Markle joined the Queen and the rest of the Royal family at Sandringham on Christmas Day, and was seen walking arm-in-arm with the Prince to the service at St Mary Magdalene Church. Prince Harry said that the family “loved having her there”, adding that they had “great fun” staying with the Duke and Duchess…
By Tom Arnold DUBAI (Reuters) – A Saudi Arabian businessman whose family’s commercial empire is involved in a multi-billion dollar debt dispute has been released from detention in the kingdom’s Eastern Province, according to sources familiar with the matter.Abdulaziz al-Sanea’s release comes as the government steps up efforts to find a company to run a…
The last week saw gambling industry players Penn National Gaming Inc. PENN and Boyd Gaming Corporation BYD announcing buyouts. Melco Resorts & Entertainment Limited MLCO announced the launch of a luxury hotel brand, NUWA. Week’s Most Important Stories in Detail Penn National agreed to buy Pinnacle Entertainment Inc. (PNK) for $1.87 billion in cash and…