Amrapali homebuyers move Supreme Court against insolvency proceedings – Hindustan Times

Hassled homebuyers who had invested in Amrapali Group projects moved the Supreme Court on Wednesday against the insolvency proceedings initiated against the real estate firm. The petition, filed by Bikram Chatterjee and 106 others, says the company has neither given them possession of flats nor returned their hard-earned money spent to book homes in the…

Jaypee Infratech insolvency: There’s a viable solution to home buyers’ troubles and it’s built in bankruptcy code – Firstpost

After the recent dispute concerning Insolvency Law, which involved Jaypee Infratech and its flat buyers, there has been a debate on a possible amendment to the Insolvency and Bankruptcy Code (IBC). The IBC as should be well known is not a sectoral law. This means that it doesnt cater to the demands and needs of…

Administrator of Latvijas Krajbanka recovers EUR 2.141 mln in August – The Baltic Course

KPMG Baltics, the administrator of the to-be-liquidated Latvijas Krajbanka, recovered EUR 2.141 million in August 2017, which is 4.1 times more than a month before, informs LETA, according to a report published in the official gazette Latvijas Vestnesis. In August 2017, the whole sum was recovered from loans. This brings the total amount recovered in…

New safe harbour laws leave hospitality directors exposed – Open House Foodservice Magazine (press release)

Currently awaiting royal assent, the Treasury Laws Amendment (2017 Enterprise Incentives No. 2) Bill 2017 amends the Corporations Act 2001 and aims to protect directors acting to undertake a company restructure in response to insolvency, where it will receive a better result for stakeholders. ASIC figures show 227 accommodation and food services businesses entered external administration in the…

We went to a Toys R Us store the day after the bankruptcy announcement and we were surprised by what we found – Business Insider

Impressive displays were scattered throughout the store, but don’t expect a Ferris Wheel.Getty/Bennett Raglin Toys R Us has filed for bankruptcy. The company has said it is not closing any stores or altering any opening hours. The specialty toy store has struggled as it increasingly competes with online retailers in its two main businesses: baby goods and toys.…

‘Bankruptcy (Amendment) Bill, 2016 will give fair treatment to all’ – The Borneo Post

Noor Nasimah conducts the briefing on Bankruptcy (Amendment) Bill 2016. MIRI: The Department of Insolvency hopes that the Bankruptcy (Amendment) Bill, 2016 will not only give fair treatment to all involved including creditors, debtors as well as bankrupt principal borrowers and guarantors, but also the department, once it is enforced. Its head here, Noor Nasimah…