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The Parks townhouses in Red Hill was one of the projects affected by PBS Building going into voluntary administration. Photo: Ian Bushnell. Collapsed building company PBS Building could be forced to liquate four of its five companies as part of recommendations from its administrators. Earlier this year, RSM Australia Partners were appointed voluntary administrators of…
AHMEDABAD: Rasna got a breather from the Gujarat high court on Monday after it stayed the interim resolution professional (IRP) from taking over the company’s management till the appellate tribunal hears its appeal against the insolvency proceedings ordered by the National Company Law Tribunal (NCLT).After the NCLT ordered initiation of the corporate insolvency resolution process…
These houses in Adelaide’s south may look abandoned, but in fact the group of 20 homes has never been lived in. Key points: South Australia has a mandatory building indemnity insurance scheme It is designed to protect home owners when issues arise with building work But some South Australian home buyers are falling through the cracks The…
LEXINGTON, Ky. (WKYT) – Kentuckys football season kicks off Saturday afternoon. And this season, its the first time sports betting will be legal in the Commonwealth. While parents worry about their college kids getting into credit card debt, they now may worry about gambling debt. I think sports betting makes the game way more electric…
High interest rates following the pandemic when many organisations took out loans to survive mean an average of 7,000 businesses per quarter are expected to become insolvent next year. The second quarter of 2023 saw over 6,700 businesses declare insolvency in Britain, more than double that of a typical quarter during the pandemic, according to…
UNITED STATES More than 20 million low-income Americans stand to benefit from the enhanced income-driven student loan repayment programme announced on 22 August. This is US President Joe Bidens latest response to the 30 June decision of the Supreme Court of the United States (SCOTUS) which held that the debt-relief plan announced over a year…
The bargain retail chain Big Bazar can no longer defer payments to its creditors. As a result, there is a high probability that the bargain chain will be declared bankrupt on Tuesday morning, Big Bazar’s attorney, Oscar van Oorschot, told ANP on Monday afternoon. Moments earlier, the District Court of Noord-Nederland in Leeuwarden denied the…
The National Company Law Tribunal (NCLT), New Delhi Bench, comprising of Shri Mahendra Khandelwal (Judicial Member) and Shri Rahul Bhatnagar (Technical Member), while adjudicating a petition filed in Chirag Jain & Ors. v Imperia Structures Ltd., has initiated Corporate Insolvency Resolution Process (CIRP) against Imperia Structures Ltd., which launched a real estate project named Imperia…
Country Garden’s deal with creditors for an extension on onshore debt payments worth 3.9 billion yuan ($536 million) boosted shares in the developer on Monday and gave China’s crisis-ridden property sector some much-needed respite. Country Garden shares ended 14.6% higher after having jumped as much as 19% to their highest level since Aug. 10. Hong…