The regulations come under the Insolvency and Bankruptcy Code. New Delhi: The Insolvency and Bankruptcy Board on Tuesday sought comments from the public on draft norms for insolvency resolution process for individuals running businesses and personal guarantors. Comments have been sought on draft regulations pertaining to insolvency resolution process for individuals and firms. Views have…
Employees of Ilva steel staged 24-hour strike over plans to cut about 4,000 jobs when ArcelorMittal takes over.
The Prague-AST company owes more than 19.9 billion rubles. The Arbitrazh Court declared the Prague-AST company, which owns the Prague restaurant in Moscow, bankrupt, and is a part of former owner of Cherkizovsky market Telman Ismailovs AST group of companies. RIA Novosti reported this. By the court’s decision, the company initiated…
Nufam president Ismail Nasaruddin says human resources minister has failed to defend the rights of 3,600 retrenched workers. PETALING JAYA: A union today asked if Malaysia Airlines was ever declared bankrupt, following Human Resources Minister Richard Riots claim that 3,600 retrenched workers could not seek any claims or justice through the court because the airline…
Former Lugari MP Cyrus Jirongo; commercial court declared him bankrupt for failing to pay Sh700m debt NAIROBI, KENYA: When faced with overwhelming debts obligations, some people turn to courts of law to file for bankruptcy. They compel the courts to declare them bankrupt and insolvent, meaning that they no longer have capacity to clear their…
By ABIUD OCHIENG’ Former Lugari MP Cyrus Jirongo has been declared bankrupt after the High Court found that he was unable to service his debts. Judge Olga Sewe ruled that the politician was unable to pay debt amounting to Sh700 million, which he owed some eight companies. The bankruptcy application against Mr Jirongo had been…
Disgraced sports scientist Stephen Dank, who oversaw AFL club Essendon’s doping supplements program, has been declared bankrupt. The Federal Circuit Court in Melbourne on Tuesday authorised that $12,745.08 be paid from Dank’s “estate” in favour of ABL Custodian Services, a subsidiary of Bendigo and Adelaide Bank in accordance with the Bankruptcy Act. Dank was given…
A court has declared former presidential contender Cyrus Jirongo bankrupt after finding him unable to pay debts amounting to Sh700 million. Justice Olga Sewe of the commercial division said on Monday that Jirongo’s inability to repay was demonstrated. The money is to be repaid to businessman Sammy Kogo. The judge ordered an official receiver be…
Stephen Dank has been declared bankrupt, according to a report in The Australian. The sports scientist at the centre of the Essendon and Cronulla doping sagas was today reportedly issued a bankruptcy order by the Federal Court after failing to turn up to a hearing. The report says the bankruptcy proceedings were started earlier this year…
Former Lugari MP Cyrus Jirongo has been declared bankrupt by a Kenyan court after he has been unable to pay hundred of millions shillings in debt. Commercial Court judge Olga Sewe on Monday made the ruling, following a case in which businessman Sammy Kogo had sued to have Jirongos estate put under receivership after the…