May 3 (Reuters) – Lanco Infratech Ltd: * RESOLUTION PLAN SUBMITTED BY THRIVENI EARTHMOVERS WAS PRESENTED BY RESOLUTION PROFESSIONAL FOR APPROVAL OF COMMITTEE OF CREDITORS * SAYS ON ACCOUNT OF LESS THAN 75 PERCENT OF VOTES BEING CAST IN FAVOR, APPROVAL OF COC COULD NOT BE OBTAINED * AS CORPORATE INSOLVENCY RESOLUTION PERIOD EXPIRES ON…
United Nations Secretary-General António Guterres (center) observes the local relief effort in Salybia, Dominica, and meets with local authorities and community members during a multi-sector distribution effort alongside Roosevelt Skerrit (right), prime minister of Dominica. Photo by: Rick Bajornas / U.N. / CC BY-NC-ND UNITED NATIONS Concern over debt vulnerability and risks for small island developing…
A family were left in tears after the family they swapped with on TV show Rich House, Poor House offered to pay off most of their debt. Sarah and Ross Timmins, from Cornwall, have two children aged five and two, but despite both working they found themselves struggling to make ends meet due to a…
Meghan Markle will not be walked down the aisle on her wedding day by her father, her half-brother has claimed. There has been international speculation about whose arm Meghan will be on when she enters St Georges Chapel, Windsor Castle, to wed Prince Harry on May 19. Thomas Markle Jr, estranged from his famous sister…
Kolkata/New Delhi: The National Company Law Tribunal (NCLT) on Wednesday asked the Committee of Creditors (CoC) of debt-ridden Binani Cement to consider Aditya Birla group firm UltraTech’s revised offer while setting 24 June as deadline for completion of the insolvency resolution process. The NCLT bench also asked the CoC to reconsider resolution plan of Rajputana…
A herb farm which supplies and packs herbs for major supermarkets has gone into voluntary administration. Freshzest and affiliated company Spicezest were placed into administration by director and owner Robert Hayes last month, putting 60 jobs at risk and leaving more than 100 other creditors out of pocket. The companies have farming operations near…
Australian banks have faced a string of scandals in financial advice, alongside weak returns from their wealth businesses. ANZ and Commonwealth Bank are also selling out of wealth management. The royal commission into misconduct in financial services last month exposed serious flaws in advice, but NAB chief executive Andrew Thorburn on Thursday said the sale of…
President Donald Trumps massive fiscal stimulus plans are adding to the U.S. debt overload and forcing the government to drive up bond issuance as the Federal Reserve shrinks its balance sheet. The Treasury Department will boost the amount of long-term debt it sells to $73 billion this quarter, lifting the auction sizes of coupon-bearing and floating-rate…
National Australia Bank will divest its wealth arm MLC, as its ambitious plan to restructure its workforce had a big impact on its half-year results, with cash profit down 16 per cent to $2.76 billion for the half-year due to a restructuring charge. NAB chief executive Andrew Thorburn said it intends pursue the sale of MLC –…
Saipan casino operator Imperial Pacific International Holdings (IPI) is suing a Las Vegas gambler over an unpaid casino marker. On Wednesday, the Saipan Tribune reported that IPI had filed a lawsuit against Las Vegas resident Patrick Sun for unpaid gambling-related loans totaling $747k. The company has requested a jury trial and is seeking payment of…