CHARLESTON, WV (WVNS) Opioid addiction is not the only addiction hitting West Virginia hard. Local businesses excited for exposure brought by Healing Appalachia Research shows gambling addiction is also a growing problem in the Mountain State. According to a recent study, one in 50 people in West Virginia struggle with a gambling addiction, which experts…
Under the Insolvency and Bankruptcy Code, 2016 (IBC), Section 7 deals with initiation of Corporate Insolvency Resolution Process (CIRP) by a Financial Creditor (FC). Accordingly, a financial creditor either by itself or jointly with other financial creditors, or any other person on behalf of the financial creditor, as may be notified by the Central Government,…
The Insolvency and Bankruptcy Board of India, on 18.09.2023, made the amendments to Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2023, vide Notification No. IBBI/2023-24/GN/REG 106, dated 18.09.2023. Major changes in the process of corporate insolvency resolution process have been brought through this amendment. Details of debt…
China Evergrande Group, struggling under US$327 billion of liabilities, has surprisingly scrapped creditor meetings scheduled for next week as home sales sagged and lawsuits snowballed, dragging bondholders back to the drawing board in the countrys biggest corporate restructuring. The developer cancelled four meetings for two classes of its creditors in Hong Kong and the Cayman…