HYDERABAD: Making it clear that Andhra Pradesh would not be able to reach out to farmers in distress with its non statutory bodies like Farmers Federations, the Hyderabad high court on Wednesday sought to know from the state of AP by Tuesday whether it would set up a state level farmers debt relief commission for…
Adherium Limited (ASX: ADR) operates in the business segment of digital health technology providing technologies for medication use and remote patient management in chronic diseases. The companys Hailie solution has proven to be very effective and improve medication adherence and health results for patients who are suffering from various chronic respiratory diseases. The company has…
HYDERABAD: The National Company Law Tribunal ordered the liquidation of Nagarjuna Oil Corp, nearly 17 months after initiating corporate insolvency resolution proceedings at the company, saying that lenders had not accepted the proposals made by various prospective investors. Haldia Petrochemicals, Bharat Petroleum, Gulf Petrochem and Citax Energy DMCC had submitted resolution proposals since the insolvency…
The Gen Z bosses of an Aussie app developer once hailed as the next Apple say they are absolutely devastated after the company collapsed into liquidation on Friday. Appster, founded by Melbourne teens Josiah Humphrey and Mark McDonald in 2011 using just $3000 in savings, made headlines over the years for its rapid growth and…
German heavy lift company Hansa Heavy Lift has filed for insolvency with the Hamburg District Court amid challenging market conditions. The decision was allegedly triggered by the companys US-based investor Oaktree Capital Management on Monday, December 10. Due to an extremely challenging operating environment in the global shipping industry, Hansa Heavy Lift filed for insolvency…
MINNEAPOLIS, Dec. 12, 2018 /PRNewswire/ —Communications Systems, Inc. (NASDAQ: JCS) (“CSI” or the “Company”), a global provider of connectivity infrastructure and services for deployments of broadband networks, today announced it will initiate a series of restructuring measures by year end that will materially reduce expense levels in its corporate operations and in its Suttle business.…
PV inverter supplier SMA Solar is to lay off 425 full-time staff and discontinue China as a location as part of a restructuring plan announced in September in order to return the company to profitability quickly. The planned restructuring measures, due to be implemented from January 2019, include the sale of the Chinese companies to…
This is to inform you that 7th Meeting of Committee of Creditors (CoC) was held on 10.12.2018.In the meeting, the Chairperson placed before the meeting the Resolution Plans received from two Resolution Applicants. The COC Members discussed and decided to invite the Resolution Applicants for their presentation on the Resolution Plans in the next meeting…
Dodgy insolvency practitioners will now find it harder to facilitate illegal phoenix activity under the governments new rules to restrict the voting right of certain creditors to prevent collusion. Assistant Treasurer Stuart Robert announced the introduction of the new insolvency practice rules that will restrict the voting rights of certain creditors related to a phoenix…
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