A decade ago, Beau Humphreys was in deep financial trouble. At 28 years old, he had $40,000 CAD worth of high-interest debt, which was more than he made in a year. He racked up a lot of that debt through online gambling. Humphreys went through periods where he got his debt down to $35,000 only…
Notice for the 13th Meeting of Committee of Creditors of Southern Online Bio Technologies Limited (under Corporate Insolvency Resolution Process) under the provisions of The Insolvency and bankruptcy Code, 2016 read with Insolvency and bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations 2016.Day & Date: Monday, 17th June, 2019Time: 4.00 P.MVenue: Bank…
Marina Bay Sands, one of Singapores two casino resorts, has dropped a S$10 million lawsuit against an Australian high roller who failed to pay a gambling debt he amassed at the property five years ago. Local news outlets reported earlier this week that Marina Bay Sands filed a notice of discontinuance with the High Court…
Insolvency and Bankruptcy Code, 2016 (IBC) has proved to be a successful path for lenders to recover their loans from defaulting companies. According to a Reserve Bank of India (RBI) report, the recovery rate of the IBC is 42 per cent against 10-18 per cent in earlier regimes. Till December 2018, the IBC has resolved…
General Electric Co. is looking to sell off its venture capital investment business, GE Ventures, which has a portfolio of more than 100 startups under its wing. GE is selling the business in order to help stave off its mounting debts, CNBC reported. The company is said to be in a difficult financial position, with…
Mandatory retirement savings in Australia are worth $2.7 trillion and growing. Equity markets are arguably looking fully priced, particularly as the rhetoric of a trade war between the US and China ramps up again. To top it off, bank deposits and bond yields are offering circa 2% yields at best. Finding investment opportunities that are…
With reference to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it may please be noted that as per the instructions of Sri Parag Sheth, Interim Resolution Professional, the first meeting of the Committee of Creditors was held on Friday, May 24, 2019.Thereafter, E-Voting was conducted from June 3, 2019 (11.00…