Tulip Hotels was a corporate guarantor for two loans disbursed by Yes Bank to Cox & Kings and EzeeGo One Travel and Tours Ltd. Photo: Wikipedia The National Company Law Appellate Tribunal (NCLAT) has upheld the insolvency proceedings against Tulip Hotels, which had defaulted on Rs 450 crore corporate guarantees given for Cox & Kings…
Topline Alibaba cofounder Jack Ma endorsed the Chinese giants sweeping restructuring efforts and praised company leadership in a memo to employees, according to news reports, prompting a surge in shares and marking a rare return to the spotlight for the billionaire after spending years lying low in the wake of a dramatic clash with Beijing.…
The Dutch banks will not help the cabinet to impose a limit the amount of money people can spend online gambling because of privacy concerns, banking association NVB has said ahead of talks with the justice ministry later this week. Legal protection minister Franc Weerwind had asked banks to intervene in cases of excessive spending…
Australias Grand Ridge Brewing Company has gone into administration after 35 years in the business and establishing a loyal following. The well-known independent family-owned craft brewery, which was established in the 1980s and based in the Strzelecki Ranges, Victorias Gippsland region, said it called in administrators with a view to selling up. In a local…
Midlands-based professional services firm PKF Smith Cooper has acquired insolvency boutique BLB Advisory. The move comes as the former continues to execute regional expansion plans, adding eight new experts to its team in the process. Dean Nelson, head of business recovery and restructuring at PKF Smith Cooper, commented, Acquiring BLB Advisory Limited has strengthened our renowned…