New Delhi, May 4: A bankrupt person would stand automatically disqualified from becoming a law-maker once the new legislation that looks to slash the time it takes to wind up a dying company or recover dues from a defaulter is enacted. According to a clause in the Insolvency and Bankruptcy Code, 2015, the bankrupt would…
By: PTI | New Delhi | Published:May 4, 2016 3:49 pm Finance Ministry officials said the government has accepted all the changes suggested by the Joint Committee, including on disqualification of the bankrupt. A bankrupt person would stand automatically disqualified from becoming a law-maker once the new legislation that looks to slash the time it…
The creditors of failed Queensland vegetable processing business Bunny Bites are unlikely to be paid by the former owners, the Brent family. Bunny Bites was owned by John Brent, and his brother Peter Leonard Brent, when the business went into liquidation in 2013 owing more than $3 million to vegetable growers, wholesalers, and…
The government has ordered the insolvency watchdog to launch an immediate investigation into the circumstances surrounding BHSs slump into administration. The business secretary, Sajid Javid, instructed the Insolvency Service to consider the extent to which the conduct of the directors of BHS led to its collapse into insolvency last week, putting 11,000 jobs at risk.…
The head office of collapsed Corporate Commercial Bank (KTB) in Sofia. The receivers of insolvent Corporate Commercial Bank (Corpbank or KTB) have made public a report tracking the assets of Bulgarias fourth-largest lender. An English-language version of the final report, prepared by UK-based consultancy AlixPartners in September 2015, had been initially submitted to Parliaments Secret…
The OKD hard coal company, belonging to New World Resources which is in controlled by the by the so-called Ad Hoc Group, filed for insolvency on Tuesday; the move had been expected after the government made clear last week it would not step in to help the long-ailing firm. The company issued a statement that…
2nd May, 2016, 9:55 PM By Tom Tibble Former West Ham star Lucas Neill has been declared bankrupt in the UK despite earning an estimated £27million in his career, according to a report. The retired Australian defender spent half of that high-level playing-career in the Premier League, amassing 96 international caps, and represented West…
By Reuters Published: 01:50 EST, 3 May 2016 | Updated: 01:50 EST, 3 May 2016 PRAGUE, May 2 (Reuters) – New World Resources’ (NWR) loss-making coal mining division OKD will have to file for insolvency unless the government can agree a deal with its owners to take the company over at a lower price, Czech…
©Bloomberg Alejandro Garcia Padilla, governor of Puerto Rico, is seen giving a speech on a television screen in a bar in San Juan Puerto Rico is set to suffer a crippling default on Monday after the islands governor ordered a moratorium on debt payments due by its de facto finance authority as its fiscal and…