ICICI Lombard, HDFC Ergo, New India Assurance and National Insurance are among the insurers who will offer a tailored insurance cover soon for insolvency professionals as the new breed of executives stare at multiple risks from charges of sabotage to negligence. While there are broad indemnity covers, these are available only for a company’s top…
When AFR Weekend sat down to break bread with one of the country’s leading corporate undertakers, there was bound to be some discussion of the thousands of people he had sacked. Steve Sherman, who retired soon after our lunch, had been with insolvency firm Ferrier Hodgson for 31 years. He has lost count of the…
NEW DELHI: The National Company Law Tribunal (NCLT) appointed an insolvency professional on Thursday for Jaypee Infratech, providing thousands of buyers in Jaypee projects two weeks to raise claims related to their flats or plots as part of a court-driven attempt to put in place a revival plan for the developer’s much-delayed housing schemes in…
NEW DELHI: The National Company Law Tribunal has admitted the insolvency petition filed by IDBI Bank against debt-ridden Jaypee Infratech. The Allahabad bench of NCLT has admitted the petition filed by IDBI Bank under Section 7 of Insolvency and Bankruptcy Code 2016, Jaypee Infratech said in a regulatory filing. “Consequent upon withdrawal of objections filed…
NEW DELHI: Economic Affairs Secretary Subhash Chandra Garg today said the introduction in the Lok Sabha of the bill seeking to deal with insolvency of financial service providers is a significant step. The Financial Resolution and Deposit Insurance Bill, 2017 was today introduced by Minister of State for Finance Arun Ram Meghwal. Soon after, it…
NOIDA: Jaypee Wishtown homebuyers have pushed the panic button with the company presently listed for insolvency hearing at the Allahabad bench of the National Company Law Tribunal. The buyers have started a social media campaign on micro-blogging site, Twitter with hashtag, Jaypeescam where the buyers are upholding the plight of the buyers invested in Jaypee…
Video PlayerClose BERLIN, Aug. 10 (Xinhua) — Incidents of insolvency among German firms and individuals are on the rise, figures released on Thursday by the Federal Statistical Office show. A total of 1,764 firms were declared insolvent by German district courts in May 2017, an increase of 1.6 percent compared to last year. Most insolvencies…
Galway Bay fm newsroom 208 Galway people have reached arrangements on debt or been made bankrupt in the last 3 years.Thats according to the latest report from the Insolvency Service of Ireland.The report covers the period from the beginning of 2014 to the second quarter of this year.It reveals that 88…
The insolvent joint-stock company KVV Liepajas Metalurgs posted EUR 26.145 million in losses in 2016, while the company’s turnover amounted to EUR 14.163 million, writes LETA, according to Firmas.lv. In 2015, KVV Liepajas Metalurgs turned over EUR 69.356 million and posted EUR 8.366 million in losses. As reported, Liepajas Metalurgs metallurgical plant based in the…
Galway Bay fm newsroom 208 Galway people have reached arrangements on debt or been made bankrupt in the last 3 years. Thats according to the latest report from the Insolvency Service of Ireland. The report covers the period from the beginning of 2014 to the second quarter of this year. It reveals that 88 people…