Clearly the cross-border insolvency law, consistent with the UNCITRAL Model with least intrusion into each countrys domestic insolvency laws, is imminently likely to be introduced as new law. The framework law for group insolvency and cross-border insolvency of group companies cannot be far behind, to tackle the realities of global insolvency. Personal insolvency,…
Would millennials want to work for a company that paid off their student loans? For plenty of college grads with heavy debt loads, the answer is a resounding yes. PwC, formerly known as PricewaterhouseCoopers, has a popular loan-offset program for employees: PwC pays part of their student loans as a benefit, offering $100 a month…
UK business secretary Greg Clark has travelled to India and China over the past two weeks to meet companies viewed as potential bidders for British Steel, as efforts intensify to rescue the ailing business and save thousands of jobs. In the past few days, the cabinet minister met JSW, one of Indias largest steel manufacturers,…
Sub.:- Update on National Company Law Appellate Tribunal (NCLAT), New Delhi Order We would like to inform you that appeal filed by Saravana Global Holdings Limited against the Order dated 1st February, 2019 passed by the Adjudicating Authority (National Company Law Tribunal), Single Bench, Chennai in MA/71/2019 in CP/682/IB/CB/2017 with National Company Law Appellate Tribunal…
Yuricazac/ Shutterstock Debt consolidation is the process of combining multiple debts into one. Typically, when you employ this strategy you take out a new lower-interest loan and use it to pay off the balances on multiple high-interest accounts. Consolidating pricey debt into one, easy-to-manage account and payment can make sense for a lot of reasons.…
NUR-SULTAN Approximately 105 billion tenge (US$274.32 million) will be required to execute President Kassym-Jomart Tokayevs decree to provide debt relief to some of the countrys most vulnerable groups, said First Deputy Prime Minister and Minister of Finance Alikhan Smailov at a recent press conference. Gulshara Abdykalikova. Photo credit: kazpravda.kz. Of that figure, approximately 88 billion…
“If I made a mistake, it was probably not putting a residential requirement in the legislation,” he said. “It seemed to me wrong somehow that if someone had been visiting the territory and took ill in some way and was in a bed with the same conditions as a Territorian, one entitled to voluntary euthanasia…
Shona Godefroy has been appointed managing partner of Thomas Westcott, the southwest-based firm of chartered accountants and business advisers. She takes over the leadership of the practice from chairman Richard Thomas, who founded the firm in 1985 and is stepping down after 34 years. Godefroy joined Thomas Westcott in 2007 from Big Four firm EY…
The National Company Law Appellate Tribunal on Thursday approved steel tycoon Lakshmi Mittal-led ArcelorMittals 42,000-crore bid for the acquisition of bankrupt Essar Steel. Resolution plan tweaked The tribunal, however, modified the Resolution Plan submitted by ArcelorMittal to safeguard the rights of the operational creditors and other financial creditors of Essar Steel. It said the proceeds…
Bennetts Bookstores Ltd, which operates a chain of retail stores around the country, has been placed into voluntary administration after 130 years in business. The company operates Bennetts book shops on university campus throughout the country including in Auckland, Canterbury, Palmerston North, Waikato and Wellington, which specialise in tertiary textbooks. Bryan Williams of BWA Insolvency…