NCLT orders insolvency resolution process against CIL subsidiary In a setback to Coal India (CIL), the Kolkata bench of the National Company Law Tribunal (NCLT) has ordered commencement of the corporate insolvency resolution process against its subsidiary Eastern Coalfields (ECL). The tribunal has admitted the insolvency petition, filed by Hinduja Group-controlled Gulf Oil Lubricants India…
Pictured: Elanco Animal Health, 2500 Innovation Way, Greenfield (Tom Russo | Daily Reporter)Indianapolis Business Journal GREENFIELD Newly public Elanco Animal Health said in a regulatory filing that it plans a restructuring of its international operations that will result in a $37 million charge in the fourth quarter, including $19 million in severance costs. The Greenfield-based…
Paul Brough is to remain chairman of Noble Group after the crisis-hit commodity trader completed its emergency $3.5bn debt restructuring. The Hong Kong-based group had been set to name Ian Potter, a former Morgan Stanley commodities banker, as its new chairman but that was before authorities in Singapore launched a criminal investigation into false and…
The bosses of the broke money-moving app Bux Global are proving hard to find as dudded investors continue to pursue them for more than $500,000 in legal costs. As revealed by The West Australian, more than 300 WA investors sank $100 million into the dud mobile phone application the brainchild of founder Raymond Webber and…
People who make a living guiding others through bankruptcy in Canada say theyve never been busier. Record debt burdens, rising borrowing costs and, in some cases, bigger payday loans are driving many Canadians to seek relief, according to several licensed insolvency trustees who spoke to Bloomberg. They say November was their busiest on record, and…
Published 20 December 2018 Six solicitors and four barristers have been reappointed to the Personal Insolvency Practitioners Complaints Committee panel for five years. The Department of Justice and Equality wrote to all 18 members of the inaugural panel, established under section 177 of the Personal Insolvency Act 2012, to ask them if they were…
Dear Sir / Madam, We would like to inform you that 20th meeting of Committee of Creditors of ABG Shipyard Limited was held on Thursday, 20th December 2018 at 02:30 P.M. IST at BDO India LLP, Level 9, The Ruby, North West Wing, Senapati Bapat Road, Dadar (W), Mumbai 400028, INDIA. You are requested to…
Businessman Gary van der Merwe says Andrion Gouws appears to have abused his authority in a manner that was contrary to logic and arguably detrimental to the solvency of Standard Bank. Pictures: Brendan Magaar/African News Agency (ANA) CAPE TOWN Standard Bank business credit manager, Andrion Gouws, has been accused of colluding with ENS Africas liquidation…
SAN FRANCISCO (KGO) — Nakeia Warren and Andre Archibald are just two of more than 2,000 consumers who contacted the Federal Trade Commission to complain about Ameritech Financial, a student loan debt relief company. According to the FTC, between 2014 and 2018 consumers paid Ameritech Financial 60 million dollars in fees in exchange for Ameritech…
Australian travellers may be left stranded over Christmas after budget airfare company Bestjet collapsed. The Queensland-based companys website collapsed just six weeks after changing hands, the Courier-Mail reports. The owners of Bestjet can confirm that the business has appointed Nigel Markey and Bradley Hellen of Pilot Partners as the voluntary administrators of the Company and…