A recent National Company Law Appellate Tribunal (NCLAT) ruling on the Insolvency and Bankruptcy Code (IBC) weakens the mechanism by delaying quick resolution, legal experts said. The appellate tribunal said that the 14-day timeline for rejecting or admitting a case under the IBC was a directive: that means courts do not have to necessarily adhere…
Evidence of dual citizenship, bankruptcy leads to disqualification of Pujut assemblyman Wong gestures while tabling his motion one that later disqualifies Dr Ting Tiong Choon of his credential as Pujut assemblyman. Dr Ting Tiong Choon THE State Legislative Assembly (DUN) yesterday resolved to unseat Dr Ting Tiong Choon (DAP-Pujut) following an overwhelming 70 votes from…
70 members of the state legislative assembly voted in favour of disqualifying Dr Ting Tiong Choon. VIDEO INSIDE PETALING JAYA: Sarawaks Pujut constituency will see a by-election within 60 days, after its assemblyman Dr Ting Tiong Choon was today disqualified from the state legislative assembly over allegations that he is an Australian citizen. A total…
SolarWorld AG, Europes largest independent solar energy company has filed for insolvency in Germany due to the difficult market environment as low-cost panels, mostly manufactured in Asia, have glutted the global market. SolarWorld is led by Frank Asbeck, a colorful businessman known as the Sun King in Germany, who has led the charge against what…
BERLIN (AP) German solar panel maker SolarWorld AG has filed for insolvency, citing the effect of falling prices in the industry. The company said late Wednesday its management had concluded that “due to the ongoing price erosion and the development of the business, the company no longer has a positive going concern prognosis.” It added…
NEW DELHI: The Bankruptcy Board is looking to shorten the time for insolvency resolution of smaller companies, which will also include startups, said Insolvency and Bankruptcy Board of India (IBBI) chairperson MS Sahoo. We had put out a discussion paper to allow this for small companies which have a capital of less than Rs 50…
Dealing with Puerto Ricos crushing debt has started to resemble a circular firing squad. Simply put, the bankrupt island cant pay everything it owes, so creditors are taking aim at each other as they squabble over who will get whats left. But the debts size and the tangled process invented to rescue Puerto Rico mean…
Details Published on Thursday, 11 May 2017 16:23 View Comments IPOH – As many as 5,845 people in Perak were declared bankrupt by the Malaysian Insolvency Department (MDI) from 2012 to last year, said its Perak director Hezlin Haldi. He said according to records, those individuals were between the ages of 35 to 44. “Most…
IPOH: As many as 5,845 people in Perak were declared bankrupt by the Malaysian Insolvency Department (MDI) from 2012 to last year, said its Perak director Hezlin Haldi. He said according to records, those individuals were between the ages of 35 to 44. “Most of these cases were due to problems with personal, vehicle and…
Provisions to rehabilitate the state’s 450 mines in NSW are inadequate, their required outcomes vague and the risks of long-term failure are uncovered, according to a report by the Auditor-General. While the total value of deposits made by mining companies had quadrupled since 2005 from $500 million to $2.2 billion as of the end of last year, the…