Ghana Association of Restructuring and Insolvency Advisors (GARIA), an Association of Professionals established to play a leadership role in corporate restructuring, has urged the government to expedite the process in passing the corporate insolvency bill into law. The Bill will ensure a significant impact in the business environment, provide a framework for restructuring viable businesses,…
Dear Sir / Madam, We would like to inform you that the brief particulars of the invitation for expression of interest in Form G as required under the applicable provisions of the Insolvency and Bankruptcy Code, 2016 read with rules and regulation made thereunder has been published on the website of the corporate debtor. The…
Restructuring is so common in both the private and public sectors that many workers will experience one after the other, in an ongoing series of upheavals. Can this really be good for business? What impact is the constant threat of restructuring having on employee wellbeing and workplace culture? This year has seen restructuring and layoffs…
Richa Roy and Zubin Mehta On the second anniversary of the Insolvency and Bankruptcy Code (Code) many of its achievements deserve celebration including fostering credit discipline and improving upon a culture of impunity. And yet, there has been a gamut of reactionary amendments to the Code, the intent and timing of several of which raise…
Dont wait for the New Year to tackle debt, manage your festive season spending and start 2019 financially fit. Every year we see an increase of about 28 per cent on credit card spending over the December period, but, with careful planning and clever management of this inevitable increase in spending, you can enjoy your…
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…