Introduction The Insolvency and Bankruptcy Code, 2016 (Code) has been introduced with the primary objective of increasing lenders confidence and facilitating expansion of the credit market in India. As stated in the objects clause, the objective of this new law is to promote entrepreneurship, availability of credit, and balance the interests of all stakeholders by…
California is at the forefront of the US medical marijuana industry, and weeds positive impact on the states economy has been huge, generating $2.8 billion in 2015, with $6.5 billion annually expected by 2020. The states largest grow facility was announced in June 2016 by GFarms, and is slated to be built in the town…
Bids for public contracts can be made by an individual firm, or by two or more unaffiliated entities. There are various reasons why operators decide to form a consortium. Consortium bids are common in large public contracts, when small and medium sized enterprises (SMEs) do not have the individual financial or technical capacity to undertake…
The government has paid out more than Hr 80 billion ($3 billion) to Ukrainian customers with insured deposits in the nations 80 collapsed banks since 2014. But little of that money, and as well another $5 billion in losses from uninsured deposits, has come from bank owners, managers and shareholders, who pocketed billions of dollars…
NEW DELHI: From making the Insolvency and Bankruptcy Board a reality to tweaking norms for improved ease of doing business, the Corporate Affairs Ministry strived to strike the right note this year even as further amendments to the new companies law got entangled in Parliament logjam. Pushing forward with implementation of pending provisions in the…
Ms Justice Caroline Costello yesterday (December 19) granted the bankruptcy petition by Promontoria (Aran) Ltd fund arising from a 2m judgment obtained after the fund took over the TD’s debt to Ulster Bank. Promontoria is owned by US fund giant Cerberus, the fund at the centre of allegations made in the Dáil by Mr Wallace…
Ms Justice Caroline Costello yesterday (December 19) granted the bankruptcy petition by Promontoria (Aran) Ltd fund arising from a 2m judgment obtained after the fund took over the TD’s debt to Ulster Bank. Promontoria is owned by US fund giant Cerberus, the fund at the centre of allegations made in the Dáil by Mr Wallace…
INDEPENDENT WA Senator Rod Culleton has been declared bankrupt in the Federal Court in Perth, following a ruling made today. On Sunday night, Senator Culleton announced hed quit the One Nation party that he was initially elected on at the July 2 poll, after a fall-out with leader Pauline Hanson, ahead of his Monday court…
BREAKING: Smartcity Vocational College accountants met with liquidators six months before the college’s administrative arm, SC Admin Pty Ltd, went bust. The report to creditors distributed to former SC Admin staff and creditors by Worrells Solvency and Forensic Accountants yesterday showed SmartCity accountants and lawyers met with Worrells on June 1 to discuss “solvency concerns…