Currently, only financial creditors are part of the CoC that decides on a resolution plan and selects the winning bidder. Operational creditors (OCs), mostly MSMEs, may soon cease to get short shrift by the financial creditors, their mightier counterparts. The government is set to equip the OCs with more power under the Insolvency and Bankruptcy…
Government has been prejudiced in excess of $3,5 billion by company directors who shut-down their firms in order to avoid payment of taxes only to re-establish themselves under different trading names. This was revealed by Finance minister Mthuli Ncube in the National Assembly last month during the debate on the Finance Bill. Ncube is proposing…
After having its SSL and EVSSL certificates deemed untrustworthy by the most popular browsers, VASCO announced that DigiNotar, filed a voluntary bankruptcy petition and was declared bankrupt today. This is unsurprising, since a report issued by security audit firm Fox-IT, who has been hired to investigate the now notorious DigiNotar breach, revealed that things were…
“As liquidation will get only a meagre value, the creditors will be most affected and the workmen will be losing their livelihood,” the tribunal said in an order passed on January 1 on an RP proposal from the union submitted on Dec. 19, 2018. The bench cited a recent Supreme Court order in the Arcelor…
FROM rags to riches and back again. Former Sunderland striker Asamoah Gyan, who was earning 227,000-a-week at Shanghai SIPG, became the latest start to reportedly go broke yesterday. ” alt=” Former Sunderland striker Asamoah Gyan is understood to be broke” data-src=”https://www.thesun.co.uk/wp-content/uploads/2018/12/NINTCHDBPICT000458444878.jpg?w={width}” data-credit=”Instagram” data-sizes=”auto” data-img=”https://www.thesun.co.uk/wp-content/uploads/2018/12/NINTCHDBPICT000458444878.jpg?strip=all&w=894″ /> Instagram 12Former Sunderland striker Asamoah Gyan is understood to be…
NEW YORK, Jan. 04, 2019 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Yangtze River Port & Logistics Limited (Yangtze or the Company) (Nasdaq: YRIV) in the United States District Court for the Eastern District of New York, on behalf of a class consisting of investors…
NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Yangtze River Port and Logistics Limited (NASDAQ: YRIV) from February 2, 2016 through December 5, 2018, inclusive (the Class Period) of the important March 4, 2019 lead plaintiff deadline in the first filed case commenced by the Rosen…
NEW YORK, Jan. 05, 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…
Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Yangtze River Port and Logistics Limited (NASDAQ: YRIV) from February 2, 2016 through December 5, 2018, inclusive (the Class Period) of the important March 4, 2019 lead plaintiff deadline in the first filed case commenced by the Rosen Firm. The…
Personal and corporate guarantors, whove had to not only shoulder equal liability as the borrower under the insolvency law, now have also lost their right of subrogation. Under the Insolvency and Bankruptcy Code, courtsby relying on the Indian Contract Acthave held that the liability of a guarantor and borrower is co-extensive, they have the same…