By Gary L. SmithGateHouse Media Illinois By Gary L. SmithGateHouse Media Illinois HENNEPIN A Putnam County man accused of murdering a sister-in-law and burying her in a shallow grave nearly two years ago had been using her as a traveling bank to help support a gambling habit that had driven him into debt, prosecutors…
The UKs Department of International Trade organised an outward mission to the UK in March, led by U Kyaw Myo, deputy transport and communications minister. The delegation included a dozen officials and 27 business representatives, who met with over 150 British businesses to explore potential commercial opportunities. In a wide-ranging interview, U Aung Naing Oo,…
Retailer Baby Bunting is the latest brand to highlight incredibly tough sales conditions in the lead-up to the end of financial year, confirming the collapse of two other baby goods providers this year has had an impact on its sales. In May the brand warned shareholders that things may not pan out as expected this…
The wait for investors to acquire some of the $210 billion of stressed assets up for grabs in India is likely to get longer. Thats because creditors are afraid to take decisions. Current and former top bankers from at least four state-run lenders are under investigation for alleged impropriety over their lending decisions, while the…
FORMER treasurer Peter Costello says most of us will be dead before Australias national debt is paid off. On the eve of Scott Morrisons third budget, Mr Costello told ABCs 7.30 the Turnbull government had not done enough to control debt. Weve now had ten years of deficit. Cumulatively, that means to cover that weve…
Xi Jinping Reuters Tightened credit conditions have one Chinese manufacturer with $7 billion in debt begging for help. It won’t be the last one to do so. Beijing will have to start deciding who lives and who dies in China’s corporate sector. Investors shouldn’t just worry about who gets bailed out, they should also worry…
Guwahati: A proposal to make direct payment to vendors and sub-contractors to accelerate work on Guwahati water supply project has been made. The insolvency resolution professional appointed by the National Company Law Tribunal (NCLT) for Iragavarapu Venkata Reddy Construction Limited (IVRCL), the company hired to set up water distribution system under the project, recently wrote…
We seem to have lost sight of the laudable objective of reviving an entity. Photo: iStockphoto The Insolvency and Bankruptcy Code (IBC) of 2016 was meant to signal a break from the past. While there were larger macroeconomic objectives at play, such as solving the twin balance-sheet problem, developing a robust corporate bond market, improving…
NEW DELHI: Companies referred to bankruptcy courts may not be allowed to leave the process once bids have been invited or a resolution plan has been accepted. The government is considering setting a time limit for withdrawing cases admitted for insolvency resolution, ending ambiguity on a key aspect of the procedure. A 14-member law committee…
KR Srivats The Insolvency and Bankruptcy Board of India (IBBI) may shortly go for some light touch regulations on the increasingly controversial aspect of fees quoted by insolvency professionals (IPs) handling corporate insolvency resolution processes (CIRP). The regulations will seek to improve transparency (disclosures) and promote best practices in the area of compensation for IPs…