First port to be declared insolvent, Dighi port allegedly owed Rs 1,600 crore to banks, Rs 13 crore to Maritime Board and another Rs 16 crore to DBM Geotechnics. Fourteen companies have lined up to take over the troubled Dighi Port, whose case of bankruptcy is being heard by the National Company Law Tribunal. Earlier…
UP to 60 investorswho were given personal guarantees by property developer and former Irish rugby team manager Pat Whelan over a failed multi million euro property investment scheme are to receive a tiny fraction of their money back as part of a insolvency arrangement. It is estimated that each of the investors,includingformer Ireland and Munster…
EGGHEADS star CJ de Mooi has declared himself bankrupt following an extradition battle with murder cops in Holland. The former BBC quiz master filed his bankruptcy paperwork with Reading Insolvency Service on September 26. BBC CJ de Mooi has been declared bankrupt Its believed he racked up a fortune in legal bills fighting extradition to…
The U.S. Mega Millions lottery is holding a drawing on Oct. 19 for a jackpot thats swelled to US$1 billion after the 24 drawings held since the end of July failed to yield a winner. This princely sum is drawing such attention that more people are buying tickets, and even the lotterys own projections are…
Background The UKs place as a leading centre for corporate restructuring is under threat. Singapore and the EU are becoming increasingly competitive. Although the UK is ranked 7th in the world by the World Bank for ease of doing business, it is 14th for resolving insolvency, behind Puerto Rico, Slovenia, Belgium, Canada, and Iceland. Another…
Shilpi Cable Technologies Limited informed the exchanges that the resolution plan submitted by the resolution applicant was put up for the approval of the committee of creditors (CoC) in the Fifteenth CoC Meeting of Shilpi Cable Technologies Limited, in accordance with the Insolvency and Bankruptcy Code, 2016 and the rules and regulations framed thereunder. On…
Casa de Insolventa Transilvania, one of the biggest insolvency management firms in Romania, will open its first office outside the country in Cyprus, an emerging market where the insolvency practitioner profession only started to be officially recognized 2 years ago. The European insolvency market needs a complex multidisciplinary approach and the integrated product that the…
MUMBAI: Anil Ambani-owned shipbuilder Reliance Naval & Engineerings troubles have worsened with RFID solutions provider Markss Infotech filing a fresh insolvency petition against the firm. The development comes more than a month after IDBI Bank had moved the National Company Law Tribunal (NCLT) against Reliance Naval for defaulting on a loan of about Rs 1,250…
Nkechi Chima, Abuja The management of BFL Microfinance Bank has sued the Central Bank of Nigeria (CBN) for illegally revoking its operating licence. The microfinance bank, in the originating summons filed at the Federal High Court by its counsel, Velma Solicitors, prayed the court to declare the purported revocation null and void as the bank…
17 October 2018 | By GCR Staff The former chairman of Scottish construction company Muirfield, John Stodart, has been disqualified as a director after he was found to have siphoned off more than 880,000 from the company as it was going into administration. The Dundee-based company employed more than 280 workers when it declared insolvency…