Green-Light International Goes Bankrupt After Blistering Arbitrator’s Ruling – Variety

Green-Light International has declared bankruptcy following a blistering arbitrators ruling that found that the foreign sales agent committed acts that bordered on criminal fraud. The company was accused of pocketing $410,000 from distributors that should have gone to a collection account, and using the money for salaries and a lavish post-Cannes Film Festival vacation in…

Lenders of Electrosteel apply for insolvency case against company – Economic Times

KOLKATA: Lenders to beleaguered Electrosteel Steels have urged the National Company Law Tribunal (NCLT) to admit insolvency proceedings against the West Bengal-headquartered company. Electrosteel Steels, which owes more than Rs 10,200 crore to an SBI led consortium of lenders, is among the 12 cases identified by the Reserve Bank of Indias (RBI) advisory panel for…

Interest rate hike: Most Canadians would struggle to pay just $130 more a month, survey shows – Globalnews.ca

More than seven in 10 Canadians rate their ability to budget for an interest rate increase of one percentage point as less than optimal, a nationwide survey found. The prospect of climbing rates has nearly half of Canadians on edge, according to a recent Ipsos poll conducted by MNP, which runs one of the largest personal insolvency…

Directors banned for failing to keep books in order – Scottish Construction Now

Two directors of a groundworks company in the Highlands have been banned from running or controlling any further companies after failing to properly keep their accounts in order. Inverness Sherriff Court has handed an eight year disqualification to Donald Cameron (37), while his fellow director Steven Cameron (36) signed an undertaking agreeing not to run or…