As banks and financial institutions try to resolve the bad loan cases there is huge demand for insolvency resolution professionals. So far, chartered accountants, company secretaries and lawyers have walked away with the mandate to provide resolution professional services. Non-professionals, including graduates from non-commerce backgrounds and having management experience of 15 years, and who have…
A scathing MPs report into the collapse of Carillion has revealed the stricken construction giant paid almost £4 million to an array of City firms in the days before it was declared insolvent. According to todays report, on 12 January, three days before the company went under and one day before chairman Philip Green wrote…
By: Chris Chase | May 16, 2018 7:31 am Follow @chrischaseftw With the Supreme Court ending a federal ban on sports betting, the floodgates have opened for some, or all, of the 50 states to legalize wagers on athletic events. With this brave new world of gaming, well see extra focus on players, officials, spreads,…
Employees at audit firm Nkonki have applied to a Pretoria court to block the companys liquidation and have it put into administration instead so that there is a chance the business can be rescued, according to a court filing. Last month, Nkonki said damage to its brand and uncertainty over future revenue streams had led…
Shares and bonds of Reliance Communications Ltd. tumbled after an Indian court ordered that the wireless carrier be placed in insolvency proceedings, jeopardizing its proposed $3.7 billion asset sale to Reliance Jio Infocomm Ltd. Shares of RCom, as the company is known, plunged 15.3 percent to 10.5 rupees in Mumbai, while its 2020 dollar bonds…
Shares and bonds of Reliance Communications Ltd. tumbled after an Indian tribunal ordered that the wireless carrier be placed in insolvency proceedings, jeopardizing its proposed $3.7 billion asset sale to Reliance Jio Infocomm Ltd. Shares of RCom, as the company is known, dropped as much as 9.7 percent on Wednesday…
Brokers and investment platforms have admitted they are powerless to prevent customer funds being tapped in the event of an insolvency, after a brokerage collapsed with huge ramifications for investors. Some clients of Beaufort Securities, which was closed by Financial Conduct Authority in March, have been told they will have to foot the bill for…
get out of debt San Diego Bankruptcy Legal Center, Bankruptcy To Get Out of Debt Bankruptcy Legal Center SAN DIEGO, May 16, 2018 (GLOBE NEWSWIRE) — For someone that is suffering from accumulating financial debt and bills that they can’t afford to repay, Bankruptcy can be a good option to help them get the relief…
Is it finally curtains down on one of the country’s biggest bankruptcies to go under the hammer? The National Company Law Tribunal (NCLT) yesterday approved Tata Steel’s Rs 35,200 crore bid for the beleaguered Bhushan Steel Ltd (BSL) with debt of over Rs 56,000 crore. This is reportedly Tata Steel’s second-biggest acquisition after the Corus…
One of the UKs largest personal insolvency providers has opened a new office in Salford. Creditfix, which looks after tens of thousands of customers, has taken on 4,500 sq ft in the Lowry Mill. The site has been refurbished to accommodate the creation of up to 50 jobs. Chief executive Pearse Flynn believes taking the…