The insolvent joint-stock company KVV Liepajas Metalurgs posted EUR 26.145 million in losses in 2016, while the company’s turnover amounted to EUR 14.163 million, writes LETA, according to Firmas.lv. In 2015, KVV Liepajas Metalurgs turned over EUR 69.356 million and posted EUR 8.366 million in losses. As reported, Liepajas Metalurgs metallurgical plant based in the…
Galway Bay fm newsroom 208 Galway people have reached arrangements on debt or been made bankrupt in the last 3 years. Thats according to the latest report from the Insolvency Service of Ireland. The report covers the period from the beginning of 2014 to the second quarter of this year. It reveals that 88 people…
The Hyderabad bench of NCLT accepted the petition against Lanco Infratech moved by IDBI Bank and appointed Savan Godiawala as the interim insolvency professional. Mumbai: The National Company Law Tribunal (NCLT) has admitted insolvency proceedings against Lanco Infratech Ltd, among the 12 identified cases referred to the tribunal following the Reserve Bank of Indias 13…
By: ENS Economic Bureau | New Delhi | Published:August 9, 2017 6:42 am The NCLT bench in Ahmedabad had observed in the SBI versus Alok Industries case that since the winding-up petitions had not been admitted, the Insolvency and Bankruptcy Code (IBC) could be invoked. (representational Image) Related News The Principal bench of the National…
Dhirendra Tripathi Moneycontrol News The Allahabad bench of the National Company Law Tribunal on Wednesday accepted lender IDBI Banks plea and classified Jaypee Infratech as an insolvent company. With this, the board of directors of the company remains suspended. The Tribunal will now appoint an insolvency resolution professional — an official from one of the…
Over the next months, Indias newly-constituted bankruptcy courts will decide the fate of 12 companies that account for over a quarter of Rs 8 lakh crore worth of bad loans choking the banking system. If the bankruptcy moved by Indias banks are accepted, companies with investments in factories, furnaces, trucks, textile looms, heavy equipment, and…
PEOPLE are still doing it tough in Rockhampton, according to the latest personal insolvency statistics released by the Australian Financial Security Authority (AFSA). AFSA describes a personal insolvency arrangement as a strategy to help people manage their debts to avoid bankruptcy. During the second quarter of 2017 (March – June) for Rockhampton, the number of…
Image copyright Google Image caption Google My Business is a free service that helps firms control how they appear in search results A Manchester-based company that pretended it was linked to Google has been closed following an investigation by the UK’s Insolvency Service. The agency said Movette had used “deceptive methods” to bill clients for…
As on 31 March, the consolidated debt of Jaypee Infratech was over Rs7,922 crore with a negative interest coverage ratio. Graphic: Ajay Negi/Mint Mumbai: The Allahabad bench of the National Company Law Tribunal (NCLT) on Wednesday admitted insolvency proceedings against Jaypee Infratech Ltd, one of the 12 companies referred to the tribunal following the Reserve…
The once high-flying algae-based materials firm TerraVia has declared bankruptcy and plans to auction itself off. The only bidder to come forward so far is the Dutch food ingredients maker Corbion, which has made an offer of $20 million for the company. TerraVia began life in 2003 as Solazyme, aiming to commercialize biofuels made from…