Updated: October 6, 2017 1:04 am The entire IBC process is time-bound. On admission of the CIRP application by NCLT, a resolution professional is appointed for conducting the process and the proposed resolution plan is approved by a CoC. The Insolvency and Bankruptcy Code 2016 (IBC) has been hailed as a landmark legislation by the…
New Delhi: Ultra Homes an Amrapali Group company has gone in for insolvency resolution. Bank of Baroda, one of the lenders to the commercial project in Greater Noida, had moved the National Company Law Tribunal to recover its dues. The principal bench of NCLT, Delhi, issued the order on the lender’s plea. The tribunal appointed…
By Ann O’Loughlin A debtor cannot seek a court review of a rejection of their proposed personal insolvency arrangement because the law requires any such review must be applied for by their Personal Insolvency Practitioner, the High Court has ruled. Ms Justice Marie Baker’s findings have implications for hundreds of cases which stand adjourned pending…
BORIS Becker is selling his Wimbledon trophies amid claims his debts have hit £44million. The BBC pundit, 49 three-time champ in the 1980s hopes his trio of silver gilt cups will net £1million. Splash News Boris Becker is claimed to have reached debts of £44million The move comes months after the German tennis legend, once…
Tennis great Boris Becker is reportedly selling his Wimbledon trophies, amid claims the German ace has racked up debts in excess of £54million. Becker, 49, was once worth £30million. But three months ago her was declared bankrupt over money owed to a bank. Now magazines Stern and Bunte claim that declaration was merely the start,…
Czech CSG to buy insolvent Serbian machinery maker IMK 14. Oktobar Jaroslav Strnad, owner of CSG; Source: Jaroslav Strnad’s Twitter profile BELGRADE (Serbia), October 5 (SeeNews) – Czech industrial group CSG has said it plans to acquire Serbian insolvent construction and agricultural machinery manufacturer IMK 14. Oktobar for an undisclosed sum. The creditors’ committee of IMK…
00:00:02 >> It’s been two weeks since Hurricane Maria dealt a massive blow to Puerto Rico’s electrical grid, and most of the island is still in the dark. The storm was devastating, but Puerto Rico’s Electrical Power Authority, or PREPA, was already limping along before Maria. A fact the island’s Governor, Ricardo Rossello, admitted when…
Hillgrove’s conviction three years ago came after his business Hillgrove PR failed to pay nearly £90,000 in VAT and PAYE payments between 2011 and 2012. He was given a suspended sentence. Over the past five years, he has been served with a number of demands for unpaid personal taxes, settling these with HM Revenue…
A bipartisan Congressional group from the Ohio Valley and beyond introduced a new bill to save pensions for retired union coal miners throughout the region. The American Miners Pension Act, or AMP, would secure pensions for about 43,000 miners in Kentucky, Ohio and West Virginia whose retirement benefits have been undermined by the decline of…
Video PlayerClose RIGA, Oct. 4 (Xinhua) — The Latvian government is expected to name the new investor of ailing steel company KVV Liepajas Metalurgs by the end of October, Vladimirs Loginovs, chairman of the Latvian Privatization Agency, said on public radio Wednesday. Citing unconfirmed reports, LETA news agency informed earlier that the steelworks in Latvia’s…