Lenders, reeling under the pressure of recovering dues from insolvent companies, have run into another wall. The National Company Law Appellate Tribunal has ruled that lenders cannot invoke guarantees given by promoters while the borrower is facing insolvency proceedings. State Bank of India was amongst the many lenders that initiated proceedings against guarantors to recover…
CREDITORS to former Hunter Sports Group chief executive Troy Palmer have declined to accept his offer of a personal insolvency agreement, insolvency trustee Chad Rapsey said on Friday. The Newcastle Herald reported in February that Mr Palmer was offering $120,000 to be paid by his wife, Emma to settle debts of more than $27 million,…
CREDITORS to former Hunter Sports Group chief executive Troy Palmer have declined to accept his offer of a personal insolvency agreement, insolvency trustee Chad Rapsey said on Friday. The Newcastle Herald reported in February that Mr Palmer was offering $120,000 to be paid by his wife, Emma to settle debts of more than $27 million,…
Firm Appointee/Solicitor Role Company Name Published Date Veritas Advisory Steve Naidenov administrator BOS Global Holdings Limited 7/03/2018 Hall Chadwick Richard Albarran liquidator Choiceliving (WA) Pty Ltd trading as Choice Living Homes 7/03/2018 Hall Chadwick Cameron Shaw liquidator Rocharde Industries Pty Ltd 7/03/2018 Hall Chadwick Cameron Shaw liquidator P&E Securities Pty Ltd 7/03/2018 Hall Chadwick Cameron…
CREDITORS to former Hunter Sports Group chief executive Troy Palmer have declined to accept his offer of a personal insolvency agreement, insolvency trustee Chad Rapsey said on Friday. The Newcastle Herald reported in February that Mr Palmer was offering $120,000 to be paid by his wife, Emma to settle debts of more than $27 million,…
Shares of GTL Infrastructure slumped as much as 20 per cent in morning trade today after it said the impact of Aircel’s insolvency will be materially adverse for the company. Shares of the company plunged 19.85 per cent to a low of Rs 3.11 on the BSE. On the NSE, the…
Melanie Gerlis March 9, 2018 Potential shenanigans involving art in the spotlight once again. London art dealer Matthew Green is among the defendants in the case against Beaufort Securities, three other corporations and five other individuals, accused by the US Department of Justice of a multiyear $50m-plus securities fraud and scheme to launder money, partly…
The endless trials and tragic tribulations of Liepja’s shuttered KVV Liepajas Metalurgs steelworks are continuing with news that the insolvency administrator supposed to be taking care of the company’s assets has lost his license after flunking a re-certification exam, the LETA news agency reported March 9. Guntars Koris told LETA that he lost his license on March 1 because…
Telecom tower firm, GTL Infrastructure, has warned that its operations will be hit with the shutdown of multiple telecom players and filing of bankruptcy petition by Aircel early this month. The company said it might lose 9,000-11,000 tenants over the next one year but will continue to remain a standard asset with the…
Henry Zeffman, Political Reporter | Gareth Davies Somerset county council has announced plans to close two thirds of its childrens centres in a bid to save cash Three Conservative-run counties have been added to the list of those showing signs of financial stress because of funding cuts. Somerset, Norfolk and Lancashire county councils are exhibiting some of the…