Bankruptcy Board Chief To Insolvency Professionals: Don’t Look For Readymade Solutions – BloombergQuint

Mentioning about instances of the professionals charging high amounts for services, Sahoo urged them not to delegate, outsource, overcharge or engage related parties. Don’t try to take Rs 14 crore from a default of Rs 2 crore…, he said, adding that remuneration should be charged in a transparent manner. His position is quite unique compared…

Food firm boss bought nearly £1million of gold bullion with company money while the business was almost £500000 in … – Daily Mail

Gul-Nawaz Khan Akbar took ownership of gold via an ’employee benefit trust Prior to buying gold Mumtaz Food Industries Ltd owed £447,997 to six creditors Akbar banned from being company director for six years by Insolvency Service By Tariq Tahir For Mailonline Published: 02:55 AEDT, 11 February 2018 | Updated: 02:55 AEDT, 11 February 2018…

Creditors accept restructuring plan for Jamie Oliver’s restaurant business – Nottingham Post

Creditors have accepted a restructuring plan from celebrity chef Jamie Oliver which will mean 12 of his restaurants will close. The closures are part of a Company Voluntary Arrangement (CVA), which will allow the Italian chain to secure rent reductions on the remaining estate as well as close down unprofitable stores. Around 200 jobs are…

Don’t look for ready-made solutions: IBBI chief to insolvency professionals – Livemint

Dr M.S. Sahoo, chairperson of Insolvency and Bankruptcy Board of India. Photo: Indranil Bhoumik/Mint New Delhi: Sending out a strong message, Insolvency and Bankruptcy Board of India (IBBI) chairperson M.S. Sahoo on Saturday said insolvency resolution professionals should not look for ready-made solutions and desist from overcharging for their services. Against the backdrop of concerns…