Synopsis L3 Technologies Inc. (NYSE:LLL) operates in three business units: Intelligence, Surveillance & Reconnaissance, or “ISR” (a combination of aerospace and sensor systems), Electronic Systems and Communication Systems. The company used to operate four business units, with Aerospace and Sensor Systems being separate business units. The share price is up modestly year to date with…
Citing a Reserve Bank of India (RBI) notification, senior Congress leader Jairam Ramesh on Monday said that the State Bank of India should declare Gujarat State Petroleum Corporation (GSPC) as bankrupt by 5 p.m. The Congress leader said, On February 12, 2018, RBI issued a circular stating any company that owes more than Rs 20,000…
This is to inform you that the Honble National Company Law Board, Kolkata Bench II, vide its order dated 21st August 2018 has passed the liquidation orders of Eastern Gases Limited under section 33 of the Insolvency and Bankruptcy Code, 2016. I, Kuldeep Verma having IP Registration No. IBBI/IPA-001/IP-P00014/2016-17/10038 have been appointed as Liquidator of…
Noble Group Ltd won approval on Monday from a majority of shareholders for a $3.5 billion debt restructuring plan that should ensure the survival of what was once Asia’s biggest commodity trader. Faced with the prospect of the company’s insolvency, shareholders reluctantly backed a debt-for-equity swap that will leave them with ownership of just 20…
* Special meeting of shareholders to decide firms future * Noble seeks to hand over 70 pct equity to its creditors * Nobles value plunges to $143 mln from $6 bln in 2015 * Restructured company faces big task to cut losses, debt (Adds details in paragraphs 9, 12, adds link to graphic) By Anshuman…
Congress of South African Trade Unions has written to president Cyril Ramaphosa asking him to intervene to ensure the bill is adopted. Banking Association of South Africas Cas Coovadia. Picture: www.basa.org.za JOHANNESBURG The Banking Association of South Africa (Basa) says the debt-relief bill will hurt the very same poor people its supposed…
CREDITORS have been left owed more than $3m following the latest Sunshine Coast building industry insolvency. The Cleary Group Pty Ltd’s ‘collapse’ rivals the 2013 Walton Queensland liquidation in terms of its impact on Sunshine Coast sub contractors who make up the majority of the 50-plus creditors left out of pocket. Terry John Rose of…
Israel-headquartered communication chip designer and manufacturer ColorChip Ltd. is in talks with a potential Chinese buyer, two people familiar with the matter told Calcalist on condition of anonymity. For daily updates, subscribe to our newsletter by clicking here. Founded in 2001 and headquartered in northern Israeli town…
One of the documents lawyers are often asked to prepare is a letter of demand. A letter of demand is usually issued in relation to an outstanding debt and will often warn of legal action unless the debt is paid by a date. However, the humble letter of demand can also sometimes give rise to…