Rules for individual bankruptcy might take still longer to come. A key official involved in framing it, says: While insolvency provisions for companies would not create a direct social impact, individual bankruptcy provisions will directly have social fallouts. The Insolvency and Bankruptcy Code (IBC) is in force since…
Photo: Barbora Nmcová The Czech judicial system is unprepared to handle such an influx, Richter, a lawyer in the Prague office of the international firm Clifford Chance, told the business daily Hospodáské noviny. Under current law, the debt relief process cannot begin without the permission of creditors, unless it appears that the debtor will settle…
Jai Balaji case: Calcutta HC recalls winding-up order Providing relief to State Bank of India in the case of defaulting Jai Balaji Industries (JBIL), the Calcutta High Court has recalled its winding-up order against the debt-laden steel producer. In its application filed before the high court, SBI had prayed for recalling the order directing the…
A SkyCity VIP is due back nearly $350,000 in legal fees and expenses after her friend unsuccessfully sued her over an alleged $800,000 gambling debt. The costs ruling, released this month, follows a judge ruling the loan contracts between the Auckland women were illegal. Over 11 months between April 2014 and March 2015, Xiufang Sun…
Mr Mohammed Miah and Mrs Anwara Miah, were both directors of Murrayfield Developments Limited (MDL), which was incorporated in 2004 and traded as The Original Raj Hotel in Edinburgh. From January 2012, Mr and Mrs Miah were joint directors of MDL and the company ceased trading on 19 November 2015 and went into liquidation on…
11:43 28/06/2018 MOSCOW, June 28 (RAPSI, Nikita Shiryayev) The Commercial Court of St. Petersburg and Leningrad Region has declared co-owner and ex-president of Baltiyskiy Bank Oleg Shigayev, who stands charged with embezzlement of 3 billion rubles ($55 million), bankrupt, according to court records. Earlier, the court has initiated debt restructuring process against Shigayev. His debt…
Mike VanErdewyk founded ReliaMax in 2006. On June 27, 2018, a judge approve a state plan to liquidate the company.(Photo: Submitted) A circuit court judge on Wednesday approved a petition to place a Sioux Falls company that insures and services student loans into liquidation. ReliaMax Surety Co. will have all remaining assets liquidated by the…
THIS should have been one of the darkest weeks in the history of General Electric (GE). The firm founded by Thomas Edison has been a member of the Dow Jones Industrial Average, a stockmarket index comprised of leading American companies, for over a century. Alas, mismanagement and a failure to move with the times have…