Nkechi Chima, Abuja The management of BFL Microfinance Bank has sued the Central Bank of Nigeria (CBN) for illegally revoking its operating licence. The microfinance bank, in the originating summons filed at the Federal High Court by its counsel, Velma Solicitors, prayed the court to declare the purported revocation null and void as the bank…
17 October 2018 | By GCR Staff The former chairman of Scottish construction company Muirfield, John Stodart, has been disqualified as a director after he was found to have siphoned off more than 880,000 from the company as it was going into administration. The Dundee-based company employed more than 280 workers when it declared insolvency…
By Tim Aldred Posted on: 17th October, 2018 at 8:20 am Simply Corporate, a business rescue and recovery specialst, has launched with the opening of a new office at Ribble Court, Padiham. The practice has been founded by Natalie Hughes, Alison Butler and Andy Platt. Natalie and Andy have worked together for the past ten…
This is in reference to the captioned subject. Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, we would like to bring to your notice that the 2nd Meeting of the Committee of Creditors (the CoC) of Uttam Value Steels Limited (the Company) was held on 11th October, 2018 to discuss…
Lenders of insolvent Bhushan Power & Steel (BPSL) have chosen the Rs 197-billion bid of JSW Steel. The committee of creditors (CoC) voted by a 66.6 per cent majority in its favour. Tata Steel and Liberty House were also in the race to acquire the company after the National Company…
Net SE, the company behind the photographic brands Meyer Optik Goerlitz, CP Goerz and Oprema Jena, has been declared insolvent and will be wound up. German blog Photoscala reports that insolvency proceedings have started for the assets of Net SE, thus throwing the fate of all of its many crowdfunded lens campaigns into doubt.…
Sears, an anchor of retail life for generations of Americans, filed for bankruptcy on Monday and said it was closing almost 150 stores, the latest marquee victim of the online era. Founded in 1886 as a mail order catalog company, it went on to pioneer the department store industry, selling all things to all people,…
Video PlayerClose BERLIN, Oct. 15 (Xinhua) — Chinese investment, together with a Swiss partner, has helped a 120-year-old insolvent German rail system company back to life, the chief executive officer (CEO) of Molinari Rail Systems GmbH told Xinhua on Monday. “At the end of 2016 before the acquisition, the situation of the railway systems company…
The management of BFL Microfinance Bank has sued the Central Bank of Nigeria (CBN) for illegally revoking its operating licence. The bank, in the originating summons filed at the Federal High Court by its counsel, Velma Solicitors, prayed the court to declare the purported revocation null and void as the bank was not solvent. ADVERTISEMENT…
15 Oct 2018 06:53am IST Insolvency and Bankruptcy Code 2016 (IBC) is one of the much needed biggest economic reforms speedily rolled-out and being implemented in India. This is a one-stop solution which addresses all insolvencies in a time-bound and economically viable manner. This law has significantly helped India in achieving the historic 30-spot…