Executing debt relief for approximately 500000 Kazakhstan citizens to cost $274 million over two months, say ministers – Astana Times

Debt Help

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…

People in the news: Thomas Westcott, Grant Thornton, DTE, Mazars, Float – Accountancy Daily

Bankruptcy

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…

ArcelorMittal bid for Essar Steel okayed – The Hindu

Liquidation

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…

University book store chain Bennetts placed into voluntary administration – New Zealand Herald

Liquidation

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…

Company director crackdown: New laws tighten rules for business owners – SmartCompany.com.au

Liquidation

The government has moved to tighten the rules around director resignations in a bid to crack down on backdating and company abandonment. With the wheels of the legislature moving again this week, the returned Coalition government yesterday introduced half a dozen reforms into parliament aimed at tackling the black economy. Under reforms tabled in the…

Cross-border insolvency law, steps for individual bankruptcy on cards: Economic Survey – VCCircle

Bankruptcy

India plans to enact a cross-border insolvency law and take steps to make bankruptcies of individuals easier as part of reforms aimed at speeding up the resolution of stressed assets, according to the governments Economic Survey for 2018-19. The cross-border insolvency law will not only provide a transparent and predictable mechanism to deal with issues…