The Supreme Court on January 25, 2019 upheld the constitutional validity of the Insolvency and Bankruptcy Code (IBC). A Bench headed by Justice R.F. Nariman upheld the constitutional validity of the code in its entirety. However, the apex court said that related parties in the Act should mean a person connected with the business. The…
The economy could see more businesses becoming insolvent, with the number of trade credit insurance claims shooting up 41% in the December quarter from a year earlier. Data collected by National Credit Insurance (NCI) puts the value of each claim at about $97,000. Last year insurers paid out $64 million in trade credit claims, which…
The Supreme Court on Friday upheld the Insolvency and Bankruptcy Code (IBC) in its entirety, dismissing all petitions by operational creditors who had challenged the validity of the code. The only change, the top court said, would be that the definition of connected persons would now include persons connected only to the corporate debtor…
NEW YORK–(BUSINESS WIRE)–Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Yangtze River Port and Logistics Limited (“Yangtze River” or the “Company”)(NASDAQ:YRIV) of the March 4, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. If you invested…
Administrators of Eastern Goldfields say their preliminary investigations into the Michael Fotios-led company show it may have been trading while insolvent for as long as 15 months before its collapse in November. A report from Ferrier Hodgsons Martin Jones and Andrew Smith shows the company could have fallen into insolvency as early as August 2017,…
KOLKATA: State Bank of India has deferred the sale of Essar Steels Rs 15,431 crore loans to February 11 on poor investor response even as the delay in companys insolvency resolution process was criticised by ArcelorMittal, which has been declared the highest bidder by its lenders. SBI, which has the largest exposure in Essar Steel,…
NEW YORK, Jan. 24, 2019 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Yangtze River Port & Logistics Limited (Yangtze or the Company) ( YRIV) Investors are advised to contact Robert S. Willoughby at [emailprotected] or 888-476-6529, ext. 9980. The investigation concerns whether Yangtze and certain of its officers and/or…
NEW YORK–(Business Wire)–Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Yangtze River Port and Logistics Limited (“Yangtze River” or the “Company”)(NASDAQ:YRIV) of the March 4, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. If you invested…
CASPER, Wyo. (AP) – A Colorado-based coal company going through bankruptcy proceedings has asked for permission to sell its mine in southwestern Wyoming. The Casper Star-Tribune reports a recent court filing shows Westmoreland Coal Co. requested to sell its Kemmerer mine by the end of February. The company declared bankruptcy in October with more than…
Jilan Moore (68) was the director of Beijing Dragon Catering Limited, the company that acted as the trading vehicle for three licensed restaurants across Lincolnshire known as The Beijing Dragon. Beijing Dragon Catering was incorporated in September 2007 and at the companys height, Jilan Moore ran three restaurants in Spilsby, Grimsby and Skegness with her…