MUMBAI: Size and corporate governance do matter: That seems to be the unambiguous message Indias bankruptcy courts are giving the countrys beleaguered lenders about a year since they began the process of recovering bad loans within specific deadlines. Since December 2016, when the new law came into force, 11% (67 cases) of the small and…
Indias Insolvency and Bankruptcy Code has promised to completely transform the countrys insolvency resolution regime. Jyoti Singh analyses the key judicial decisions under the Code. Click here to read PDF of chapter As far as the introduction of new laws in India is concerned, the Insolvency and Bankruptcy Code, 2016 (Code) is second to none…
Saipan casino operator Imperial Pacific International Holdings (IPI) saw its profits fall more than one-third in 2017 despite revenue more than doubling year-on-year. On Thursday, IPI informed the Hong Kong Stock Exchange that its net revenue hit HK$8.15b (US$1.04b) in calendar 2017, just over twice the sum generated in 2016. Gross profit more than doubled…
Snap is laying off about 100 people, primarily from the companys sales side. Its the third round of layoffs for Snap since the beginning of the year; the company also restructured its content teams in January and laid off around 120 engineers earlier this month. Imran Khan, the companys chief strategy officer and the head…
Today has been the last day of Doughnut Time, Victoria state manager Vanessa Gaddi-Chmielewski wrote in an email supplied to the ABC. I just received news from Dan [Strachotta] that the deal with the new company has been blocked by Damian. He will not sign the Doughnut Time trademark to Dan. As a result, the…
New Delhi, Mar 29 (PTI) A former Air India pilot has dragged the national carrier to the National Complany Law Tribunal (NCLT) seeking initiation of insolvency proceedings against it, saying the airline has been unable to clear his dues. Captain Subodh Kumar, who served Air India (AI) for 28 years, has sought the settlement of…
New Delhi, Mar 29 () A former Air India pilot has dragged the national carrier to the National Complany Law Tribunal (NCLT) seeking initiation of insolvency proceedings against it, saying the airline has been unable to clear his dues. Captain Subodh Kumar, who served Air India (AI) for 28 years, has sought the settlement of…
For now, its advantage Ultratech in the battle for Binani Cement. By getting the ousted promoters and unsecured lenders on its side and putting more money on the table, the Aditya Birla group company has convinced the Kolkata bench of National Company Law Tribunal (NCLT) to give it a second chance. The NCLT on Tuesday…
ZAGREB, March 29, 2018 – The government on Thursday gave the go-ahead to Croatian road companies to borrow 1.8 billion euros from banks with state guarantees, announcing the further restructuring of the road sector. Addressing a cabinet meeting, Prime Minister Andrej Plenkovi said that the sector’s debt in the amount of 1.275 billion euros had…
Pensioner Wilfred Anderson might start believing in the Easter bunny after he had two big wishes granted. Nearly 90, Mr Anderson still lives in his own home and looks after his daughter Pamela, who has Down syndrome. He relies on the NDIS to help him look after his daughter, but said it was a struggle.…