By PTI MUMBAI: There is a need to strengthen the insolvency resolution process by having deterrents against failure or delays in implementing resolutions plans, a report said Monday. In the last two years, Insolvency and Bankruptcy Code (IBC) was implemented, three concluded corporate insolvency resolution process (CIRPs) being brought back to the National Company Law…
According to a Freedom of Information request made by real estate adviser Altus Group, a total of 298.07 million was paid out by The Insolvency Service to former employees of business which ran into trouble during 2018. It was the highest level for five years, with the high street crisis contributing to the increase. The…
Tens of thousands of students are using their loans to gamble in a bid to top up their funds,with many ending up in debt to the tune of 5,000 or more, a new report suggests. Students are increasingly turning to gambling as the student support provided by the government has failed to keep up with…
PepsiCo is undoubtedly one of the largest companies in the world who has a huge dominance over cold drink industry. However, according to recent reports PepsiCo has decided to do mass layoff of its employees because of its restructuring plan. PepsiCo has recently started a restructuring plan which is going to cost company millions…
Answer: Bankruptcy is not uncommon – particularly since the recession. There were 473 bankruptcy adjudications in 2017 in Ireland, according to the Insolvency Service of Ireland – so you are not alone here. However, your experience with insurers is not an anomaly – many of the mainstream home insurers will not provide cover to someone…
NEW YORK, Feb. 24, 2019 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the…
To recover its loans from Jet Airways, state-run lender SBI is mulling moving National Company Law Tribunal as it feels the airline is running out of funds for operations, even as shareholders of the debt-laden carrier have approved a debt rejig plan, officials said. Shareholders of Jet Airways have approved conversion…
The Special Investigating Unit (SIU) is investigating the alleged theft of R139 billion from Eskom, related to the construction of the Medupi and Kusile power stations, the Sunday Times has reported. This is reportedly part of a broader SIU investigation into the theft of about R170 billion from the power utility. The paper reported that…
Sky News has learnt that a syndicate of lenders including prominent hedge funds has appointed FTI Consulting to advise on their interest in one of Britains biggest retailers. FTIs appointment is understood to have been signed off just days before Christmas, with Debenhams hoping to defy expectations of a dire festive trading period for…
Social worker Jenny McCabe helps other people all the time, but it was her own financial stress that put her on the path to getting help herself. Struggling with high credit card debts after a relationship breakdown, Ms McCabe said she burst into tears of relief at her first meeting with a professional financial adviser.…