India may settle for a pre-packaged insolvency regime which is NCLT-facilitated and not entirely outside of the courts purview, said Sudhaker Shukla, whole-time member, IBBI. This is unlike the process in advanced jurisdictions like the UK, where the pre-packs are outside the court process. A pre-packaged insolvency is an agreement between secured creditors and investors…
By Reuters Staff 2 Min Read DUBAI (Reuters) – Dubai builder Arabtec Holding said on Monday it will go ahead with its earlier plan to file for bankruptcy and liquidation after shareholders did not agree for the company to continue its existing business and seek restructuring. The statement came after a shareholder meeting earlier on…
The proposed restructuring of Telstra is an exciting new challenge for the company. It will now all depend on the direction the execution will take. This is the thirdsignificant opportunity for Telstra to reinvent itself. The first time was in the late 1990s when the digital companies started to enter the market. At that time…
Staff at Debenhams are facing an uncertain future today, after the company confirmed it had started the liquidation process. If completed, that would see the 242-year-old department store cease to exist, with all branches closed and 12,000 jobs lost. As things stand, administrators are still looking for offers “for all or parts of the business”,…
PUTRAJAYA (Dec 1): A company in the midst of being wound up can still receive damages for defamation as vindication of its reputation and to avoid further disrespect which it may have suffered due to defamatory words published, a senior lawyer told the Federal Court today. Tan Sri Cecil Abraham, who appeared for Raub Australian…