Of the total admitted claims of Rs 1.42 trillion in the 88 companies that have undergone successful Corporate Insolvency Resolution Process (CIRP), about Rs 68,766 crore has been realised by the claimants, including operational and financial creditors, an affidavit by the Insolvency and Bankruptcy Board of India (IBBI) shows. The said…
A winding up application for Nawi Island Limited has been filed in the Suva High Court. Filed by PricewaterhouseCoopers, the application for winding up was made on March 4th. The case will be heard in the Suva High Court on May 1st. Article continues after advertisement The winding up of a company (also known as…
The Gambling Commission is investigating claims that the online casino company LeoVegas accepted 20,000 from a problem gambler who had stolen the money from his mother, and then bombarded him with emails encouraging him to keep betting. Details of the case, uncovered by the Guardian, sparked renewed calls from campaigners and politicians for gambling companies…
Two years after the much-touted Insolvency and Bankruptcy Code 2016 (IBC) was implemented, slow progress of cases is becoming a cause for concern. High profile, large accounts such as that of Essar Steel, which has been undergoing resolution for over 600 days, bring to the fore the grave issue of excessive delays in the process.…
Westpac has announced changes to the way it addresses customers wealth and insurance needs. Westpac chief executive, Brian Hartzer, said: We are committed to supporting our customers insurance, investment and superannuation needs as part of our service strategy. The changes were announcing today are about focusing our investment where we have genuine competitive advantage and…