Funding woes led to downfall of failed modular data centre operator South Western Wireless Communications – CRN Australia

Bankruptcy

The chief executive of Sydney telco South Western Wireless Communications Company has pinned the downfall of his company on his co-director’s decision to withdraw funding from the business.  SWWCC director and former chief executive Geoffrey Peach told administrator Farnsworth Shepard that a cessation of funding from other director and chairman Peter Bartter was key to the company’s financial difficulties. …

Low-income country debt: Déjà vu all over again? – Brookings Institution (blog)

Debt Help

Finance ministers attending the recent Spring Meetings of the International Monetary Fund and World Bank clearly heard the alarm that Indermit Gill and Kenan Karakülah sounded on African debt: The only topic for discussion at the Development Committee lunch was debt in low-income countries. The conversations in hallways and meetings reminded me of those 20…

Proposed changes in IBC may allowwithdrawal of insolvency application – Business Line

Liquidation

Soon there may be a provision to withdraw the application for initiating Corporate Insolvency Resolution Process (CIRP), post admission. This is part of the proposed changes that the government is contemplating for the Insolvency and Bankruptcy Code (IBC) through the Ordinance route. The Union Cabinet will most likely consider an Ordinance for this purpose at…