Representational pic – Jaypee Infratech insolvency plea Shares of Jaypee Infratech, a part of the debt-ridden Jaypee group, today hit lower circuit with reports suggesting that the government was exploring if it was legally tenable under insolvency laws to sell its assets to raise money to complete pending housing projects of the company. Hundreds of…
One Nation’s newest senator has used his first speech in federal parliament to highlight his migrant roots, bucking the trend of anti-immigration speeches from his party colleagues. Perth electrician-turned-politician Peter Georgiou credited his Greek immigrant parents with teaching him the value of hard work, pledging to always be proud of his Greek heritage as he…
The retired solicitor at the heart of a repossession standoff over his former south Dublin home is set to exit bankruptcy this month. Brian ODonnell and his wife, Mary Patricia, were declared bankrupt by the High Court in August 2013 after the family amassed debts of 71 million. The finding was later confirmed by the…
Section 44 of the Constitution sets out restrictions on who can be a candidate for federal parliament. Five subsections make clear what disqualifies people, but its article one that tripped up the two Greens, government minister Matt Canavan, One Nation senator Malcolm Roberts and deputy prime minister Barnaby Joyce. It rules out anyone with allegiance, obedience,…
On August 9, the Allahabad bench of National Company Law Tribunal (NCLT) admitted an insolvency plea of IDBI Bank relating to default of Rs 526.11 crore loan by Jaypee Infratech in its Wishtown project in Noida. NCLT has appointed Anuj Jain as the Interim Resolution Professional (IRP) to carry out the proceedings under the Insolvency…
Hundreds of homebuyers of Jaypee Infratech Group decided legal and political action on Tuesday after the private housing major in Noida teetered on the brink of insolvency. Around 500 of them gathered at a park in Sector 15A to chalk out a plan after the National Company Law Tribunal admitted the insolvency petition filed by…
Air Berlin has filed for insolvency and is in discussions with Lufthansa and the German government to rescue parts of its business, after its largest shareholder Etihad said it would not provide any further funding for the struggling airline. Germanys second-largest carrier has struggled to compete with low-cost rivals and has been kept in the…
By Richard Weiss and Tom Lavell August 15, 2017, 7:19 AM EDT August 15, 2017, 8:18 AM EDT Air Berlin Plc filed for insolvency after leading shareholder Etihad Airways PJSC withdrew its financial support, marking the second failure of a major European airline in four months after the Persian Gulf carrier pulled the plug on…
The fifth progress report on the insolvency of retail FX broker Alpari (UK) shows the special administrators have paid a total of $77.9 million from the client money pool in respect of 13,644 clients. The joint special administrators (JSAs) from KPMG have just published their fifth progress report into the case of Alpari (UK), one of…
Image copyright Reuters Air Berlin, Germany’s second-largest carrier, has filed for insolvency, after its main shareholder Etihad declared it would not be providing further financial support. The airline, which has accumulated debt for almost a decade, reported a record loss of 782m euros (£713m) in 2016. Flights will continue to operate thanks to a transitional…