HELP is on the way for Barbadians who continue to run up high credit card and other debts. It is coming from the Barbados Chapter of Chartered Professional Accountants of Canada (CPA), which is this month introducing a financial literacy education programme for those who see justice in the exercise. Ms. Felicia Sue, head of…
Under the Insolvency and Bankruptcy Code (IBC), a company has to be liquidated if it fails to complete the insolvency resolution process within 270 days of its admission to the bankruptcy court. While Jyoti Structures, one of the 11 companies referred to the National Company Law Tribunal (NCLT) last year, has already overstepped its liquidation…
Mehajer was granted bail last Thursday under strict conditions that included a $200,000 surety, provided by car dealer and friend Samir Bargshoon. Under the conditions set by Justice Desmond Fagan, Mehajer is required to live at a specified address in Lidcombe, which he is not to leave between the hours of 9pm and 7am. He is to…
It’s directed by Desiree Akhavan, who was a festival guest with her first film, Appropriate Behaviour, in 2014. “It’s a really inspiring film about sexuality and acceptance,” Moodley says. “And I very much hope she’ll join us at the festival again.” The line-up includes Israeli director Samuel Maoz’s Foxtrot, a Venice prizewinning drama about a…
by Letters editor Subcontractors need wage protection Almost on cue, another prominent builder goes bust a week before the Easter break, leaving hundreds of unsuspecting subcontractors owed millions and with little or no prospect of recovering even a small proportion of the monies owed to them (“Just the beginning: more builders face collapse, subbies say”,…
Sebis proposals will plug several of the disclosure gaps that exist in the current insolvency process pertaining to listed companies. Photo: Abhijit Bhatlekar/Mint The lot of minority shareholders of companies undergoing insolvency proceedings is a sorry one. The popular narrative might be one where the promoters (who are also the management) have mismanaged affairs or…
Collingwood and Geelong are among other AFL clubs trying to negotiate the sale of gaming assets, but the Demons are the first to complete a sale. As reported by The Age, Colllingwood have been in deep discussions with the Melbourne Racing Club over the sale of gaming assets. Melbourne chief executive Peter Jackson said the…
Coimbatore: In a significant ruling, the National Company Law Appellate Tribunal (NCLAT) has said that time barred debt or stale debt those for which no action has been taken for three years from due datecannot be a reason for not allowing initiation of corporate insolvency resolution process under IBC (Insolvency and Bankruptcy Code). A debt…
Sajjan Jindals JSW didnt swap places with Rewant Ruia-connected offshore trust Aurora in the Numetal consortium bidding for Essar Steel, according to several people with knowledge of the matter. Instead, JSW has come on board Nu Metal & Steel Pvt. Ltd, a drop-down subsidiary of Numetal Mauritius, as an investor with a 25 per cent…
HUNDREDS of employees at a 60-year-old takeaway chicken brand were informed they no longer had jobs in an email over the Easter long weekend. Red Lea Chickens, founded in western Sydneys Blacktown in 1957 by Croatian immigrant John Velcich, was placed into voluntary administration on March 29. Due to the financial position of the companies,…