The number of Scottish businesses becoming insolvent or entering receivership dropped by almost 25% compared to a year ago, according to figures from Accountant in Bankruptcy (AiB) for the first quarter of 2017-18. Compared to the first quarter of 2016-17, there were 200 corporate insolvencies, down from 265 a drop of 24.5%. The figure for…
Mumbai: With some large stressed firms challenging RBI’s directives to banks to initiate proceedings against them under the Insolvency and Bankruptcy Code (IBC) in high courts, Reserve Bank deputy governor SS Mundra on Wednesday said nobody can be prevented from approaching the judiciary. Last week, the Gujarat High Court had dismissed Essar Steel’s plea against…
Whats common for Micheal Jackson, Mike Tyson, Donald Trump, Nicolas Cage and Willie Nelson? Apart from being hugely successful, all have filed for bankruptcy either in personal or business capacity at least once in their lifetime. Unlike in India, bankruptcy and insolvency law has been around in the US for last 200 years or so. In India, it…
KIEV, July 20 (Reuters) – Ukraine’s central bank said on Thursday it had withdrawn the right to formally audit the country’s banks from the Ukrainian unit of the international accounting firm PwC. PwC Ukraine had audited the largest Ukrainian bank, PrivatBank, which Ukraine took over in December after risky lending practices left it with a…
Justice Minister Charlie Flanagan and Chief Justice Susan Denham at the launch of the annual report of the Courts Service at Phoenix House in Dublin yesterday. Photo: Gareth Chaney Surge in personal injuries claims as 22,000 cases hit the courts last year Independent.ie The courts have experienced an explosion in personal injuries claims, new figures…
What law caught out senators Scott Ludlam, Larissa Waters and Matthew Canavan? 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 and government minister Matt Canavan. It rules out anyone with…
By: ENS Economic Bureau | New Delhi | Published:July 26, 2017 2:20 am Representational Image The principal bench of the National Company Law Tribunal (NCLT) in New Delhi on Tuesday reserved its order on whether the insolvency proceedings against Era Infra Engineering are maintainable. This is because there are several winding-up petitions against the company…
The U.S. Department of Justice agreed to lower the fine levied against Bumble Bee Foods for its role in a price-fixing scandal in part because a larger fine could lead to the companys insolvency, according to court documents filed last week. In May, Bumble Bee pleaded guilty to fixing the price of canned tuna between…
NEW DELHI: Shares of Amtek Auto fell over 4 per cent in Tuesday’s trade after the debt-ridden auto component maker said that insolvency proceedings initiated by a consortium of banks led by Corporation Bank has been accepted by the National Company Law Tribunal (NCLT). Following the development, the stock fell 4.49 per cent to Rs…
FORMER Blackburn Rovers captain Barry Ferguson has been made bankrupt with debts of more than £1.4 million. The ex-Scotland captain, who made 36 appearances for Rovers between 2003-2005, was declared insolvent after failing to settle large bills thought to be owed to the taxman. He is one of a number of former Ibrox stars who…