Kolkata: The Kolkata bench of National Company Law Tribunal (NCLT) ordered insolvency proceedings against Fort Projects (P) Ltd last week following a complaint from Emami Realty.Fort Projects is part of Fort Group, one of the leading real estate firms in the city, while Emami Realty, the creditor, is part of Emami Group. Emami Realty also…
On 19 October, it was announced that Australia frozen baked foods and desserts brand Sara Lee has called in administrators, hiring FTI Consulting to sell or restructure the Australian side of the business. Sara Lees Australian business was established in Lisarow, NSW, in 1971 and has a long history of producing home-grown desserts, including frozen…
Reuters. SAN FRANCISCO – OpenAI, a leader in artificial intelligence research, is currently in discussions concerning the potential reinstatement of Sam Altman as CEO. On Sunday, Altman garnered support from various stakeholders, including investors, employees, and executives during negotiations at the company’s San Francisco headquarters. The talks also considered changes to the board’s structure, drawing…
Signs appear that directors are being pursued personally for historical company debts, says insolvency specialist Court actions filed by the ATO and the big four banks are on the rise and its not just current debts in their sights. Business and personal insolvency specialist Jirsch Sutherland says legacy debts are also in the crosshairs, which could put…
Having found myself in the unfortunate position that one of my customers has become insolvent I’ve had a look through various threads/forums on advice how to proceed following a customers insolvency and I came across the “spongebob” plan on this forum, to which I believe I am on the receiving end of. To give a…
Americans owe more than $1 trillion in credit card debt as of the third quarter of this year, according to Federal Reserve data. The average consumer’s outstanding balance breached $6,000 as of September, according to TransUnion. Ron and Cristina, however, have around $30,000 in credit card debt, the couple recently told self-made millionaire Ramit Sethi…
Casey McIntyre organized a campaign that has raised more than $200,000 since she died a week ago. The funds will pay off about $19 million in debt, an official said. A 38-year-old woman with ovarian cancer who started a campaign to help people pay off their medical debt has raised more than $200,000 in the…
THE Ghana Association of Restructuring and Insolvency Advisors (GARIA) has launched a journal to enhance the future of Ghanas corporate insolvency and restructuring landscape. Dubbed: Corporate Insolvency and Restructuring Journal, it is designed to be the mouthpiece of Ghana’s relatively young, but fast evolving insolvency and restructuring industry. It seeks to shape a new culture…
A New York City woman who died Sunday from cancer has raised enough money to erase millions of dollars in medical debt with a posthumous plea for help. Casey McIntyre told followers in a social media message posted by her husband that she had arranged to buy the medical debt of others as a way…
Millions of American are in debt, but debt relief companies have their own issues. American consumers hold more than $16 trillion of debt in the form of mortgages, credit cards, personal lines of credit, home equity lines of credit, student loans and personal loans. When emergencies strike or monthly paychecks dont always cover bills, countless…