The Insolvency and Bankruptcy Code, 2016 has seen its share of twists and turns. One more twist may be lying in wait; operational creditors seeking a voice alongside financial creditors in the insolvency process. A financial creditor is one who has lent money to the company, and an operational creditor is a vendor who has…
Ching Yau Yu and Vincent Wai Kit Yu were directors of Kai Hing Limited. The company was incorporated in January 2011 and traded under Yu and You Restaurant and Bar, a Chinese eatery in the Copster Green area of Blackburn. The restaurant featured in the TV programme, Ramsays Best Restaurant, in 2013. However, Kai Hing…
Once-hyped augmented reality startup Blippar has laid off all of its employees after it collapsed into administration. The company said it would wind down its augmented reality services after being unable to raise the necessary funding to stay alive. The decision leaves loyal Blippar employees in a tough position before Christmas and may affect their…
SOFIA (Bulgaria), December 17 (SeeNews) – The Sofia city court declared on Monday localtelecommunications operator Max Telecom insolvent in a case instituted at the request of local M Sat Cable [BUL:MCJ1] over a 116.2 million levs ($67.3 million/59.4 million euro) debt, documents filed with the commercial register showed. In January 2017 the two companies reached…
17:14 17.12.2018 Ukrainian banks with Russian state capital currently have a sufficient level of liquidity for timely settlement with depositors in the event of possible court decisions about the seizure of their assets, First Deputy Head of the National Bank of Ukraine(NBU) Yekateryna Rozhkova has said. “We have two large banks with Russian state capital…
Palmali, one of the biggest players in Russias river-to-sea cargo market, plans to appeal against a court decision declaring its Russian business bankrupt and effectively handing its fleet over to Sberbank, the shipping firms owner said. Last month, a court in Rostov-on-Don in southern Russia declared the Palmali unit bankrupt. The unit owes $180 million…
NEW YORK Embattled commodity trader Noble Group is on track to complete its mammoth restructuring deal after a Bermuda court approved an officer to carry out the plan, using a local kind of insolvency process. In a brief court hearing last Friday, the judge called the company insolvent and allowed a court-appointed officer to oversee…
Liam Kelly The king of good times Vijay Mallya is resisting extradition to India on fraud chargesPUNIT PARANJPE The Indian beer, airline and Formula One boss known as the king of good times faces bankruptcy proceedings in a London court and a separate attempt to force the sale of his sons luxury yacht. The State…
(The Company is under Corporate Insolvency Resolution Process vide order of NCLT dated 31st August, 2017) BSE LISTING CENTRE Dear Sir,Sub : Liquidation approved by Committee of Creditors As already informed you that Corporate Debtor i.e. ANG Industries is undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC) vide order…
Liam Kelly The king of good times Vijay Mallya is resisting extradition to India on fraud chargesPUNIT PARANJPE The Indian beer, airline and Formula One boss known as the king of good times faces bankruptcy proceedings in a London court and a separate attempt to force the sale of his sons luxury yacht. The State…