Category Archives: Bankruptcy

FILING DEADLINE–Kuznicki Law PLLC Announces Class Actions on Behalf of Shareholders of IMMU, YRIV, SVXY and UXIN – GlobeNewswire

CEDARHURST, N.Y., Feb. 15, 2019 (GLOBE NEWSWIRE) — The securities litigation law firm of Kuznicki Law PLLC issues the following notice on behalf of shareholders of the following publicly traded companies. Shareholders who purchased shares in these companies during the dates listed below are encouraged to contact the firm regarding possible appointment as lead plaintiff…

Individual Insolvency Code may soon be a reality – Economic Times

MUMBAI -Failure to repay home loans might drag future defaulters to dedicated bankruptcy courts as New Delhi is seeking to put in place a broad framework on individual insolvency two years after it revamped such laws for stressed companies. Three sets of entities will fall under the individual insolvency code. They would include the personal…

IICA launches graduate programme for insolvency professionals – Moneycontrol.com

The Indian Institute of Corporate Affairs (IICA) has launched the Graduate Insolvency Programme (GIP) for individuals aspiring to join the insolvency profession in India andabroad. This is among the first such courses in the world for professionals dealing with insolvent companies and helping them achieve debt resolution. Approved by the Insolvency and Bankruptcy Board of…

Insolvency Code supersedes PMLA in bankruptcy process – Daily News & Analysis

In a landmark judgement, the Mumbai bench of National Company Law Tribunal (NCLT) has nullified the attachment notice served by the Enforcement Directorate on Baroda-based Sterling Biotech Ltd (SBL), saying that the NCLT gives speedier justice and that a new legislation Insolvency and Bankruptcy Code 2016 precedes over the existing legislation. Enforcement Directorate had attached…

Relief to Coal India: NCLAT sets aside NCLTs insolvency order against ECL – The Financial Express

The NCLTs Kolkata bench on December 19, 2018, admitted an insolvency petition, filed by the Hinduja Group-controlled Gulf Oil Lubricants India (GOLIL), against ECL under Section 9 of the Insolvency & Bankruptcy Code (IBC), as the coal miner allegedly refused to pay the interest amount on the original debt towards goods supplied. The National Company…

Pension Regulator Power: Differences in Pensions and Insolvency – The National Law Review

Thursday, February 14, 2019 There has always been a tension between protecting the interests of defined benefit pension schemes and insolvency given on the one hand The Pensions Regulator (TPR) seeks to protect the interests of pension scheme members and the Pension Protection Fund and on the other, the insolvency regime seeks to protect the…

Mars One, the Plan to Make a Reality Show on Mars, is Bankrupt – Universe Today

In 2012, Dutch entrepreneur Bas Lansdorp launched the worlds first private and crowdsourced-effort to create a permanent outpost on Mars. Known as Mars One, this organization was the focus of a lot of press since its inception, some of it good, most of it bad. While there were many who called the organizations plan a…

Property bosses to pay thousands after abusing company accounts – Mirage News

Husband and wife, Dawn and Jacob Goulde, of Hatch End, North West London, were the directors of London and Berkshire Limited. Incorporated in August 2009, the company was concerned with property valuation and surveying. Just six years later, however, London and Berkshire was shut down by the courts in June 2015 following a petition by…

Property bosses to pay thousands after abusing company accounts – GOV.UK

Husband and wife, Dawn and Jacob Goulde, of Hatch End, North West London, were the directors of London and Berkshire Limited. Incorporated in August 2009, the company was concerned with property valuation and surveying. Just six years later, however, London and Berkshire was shut down by the courts in June 2015 following a petition by…

Aberdeen car dealer banned for seven years – GOV.UK

Stuart McDonald (37), of Dyce, Aberdeen, was the solely appointed director of Northern Motors (Aberdeen) Limited from September 2013 having first been appointed a joint director in June 2007. Incorporated in 2006, Northern Motors traded as a car dealership in Dyce, Aberdeen while also offering repair and maintenance services. But 10 years later, Northern Motors…