The National Company Law Tribunal, Hyderabad bench, has admitted a petition to initiate corporate insolvency proceedings against Madhucon Projects Limited and appointed an interim Resolution Professional (RP). On a petition moved by Shri Srikrishna Rail Engineers, a Mumbai-based company, seeking initiation of insolvency resolution process under the Bankruptcy and Insolvency Code, 2016, the Judicial Member…
The insolvency regulator is training its guns on personal guarantors to recover bad loans. Nudging the new breed of insolvency professionals to attach assets of guarantors is not a good idea. It goes against the grain of limited liability. The reason is simple. At risk, is only the risk capital that the promoter has invested…
The Twelfth meeting of the CoC of the Corporate Debtor was held on 20 September 2018 at 03:30 PM at 16t Floor, Tower 2, Grant Thornton India LLP, Indiabulls Finance Center, SB Marg, Elphinstone (W), 400013.The outcome of the meeting is summarized as herein below:1. The RP and his legal advisors apprised the COC about…
Published: 11:34 Tuesday 09 October 2018 Share this article The rate of personal insolvencies in North Lincolnshire has increased by almost a third over the last two years, official data has revealed. In 2015, 21.6 adults per 10,000 were declared insolvent in North Lincolnshire, according to Insolvency Service figures. However by 2017 that figure had…
Restructuring may get a little easier, again Law that permits 75% creditor approval could come back next month Oct 09,2018 A law that allows companies to seek help in corporate restructuring with the agreement of just 75 percent of creditors will likely go back into effect as early as next month. The…
WORD ON THE STREET Charity fun runs across the country have been cancelled without warning after the company behind it went into liquidation, leaving hundreds of women who purchased tickets fuming. The Miss Muddy events, run by Events Move, is described as Australias most popular female muddy fun run with a range of fun obstacles…
HANNAH Quinn, the 23-year-old charged with her actor boyfriend over the alleged samurai sword murder of Aussie rapper Jett McKee has appeared in court with a new bleached blonde hairstyle. Ms Quinn, who has been on bail since soon after Mr McKees August 10 death in an inner suburban Sydney street, appeared in court accompanied…
Founder and CEO of LendStreet, Jerry Nemorin.LendStreet Americans are sinking in debt. Over 70% of Americans die in debt with credit card and mortgage balances being at the top of the list. A number reasons and choices can cause anyone to fall into debt. Unexpected life moments like the death of a spouse, lost of…
Home-grown electronics retailer Newstead Technologies, which owns brands such as nbox, Digital Style, and @notebook.com is currently in liquidation. A listing onthe Accounting and Corporate Regulatory Authoritys (ACRA) Business Filing Portal indicated that the companys status wasin liquidation creditors voluntary winding up. According to The Straits Times, this refers to the process in which a…
LUXEMBOURG, Oct. 8, 2018 /PRNewswire/ –QGOG Constellation S.A. (“QGOG Constellation” or the “Company“) has been involved in discussions and negotiations with certain holders (and investment managers for certain holders) (each, a “Noteholder“) of the 9.00% Cash / 0.50% PIK Senior Secured Notes due 2024 (the “2024 Notes“) issued by the Company pursuant to that indenture…