The Aditya Birla groups UltraTech Cement moved the National Company Law Tribunal (NCLT) in Kolkata on Tuesday against the resolution professional for Binani Cement after its bid for the cement company undergoing insolvency proceedings was rejected. The Kumar Mangalam Birla company had earlier served a notice to the resolution professional asking for details on…
Deposit guarantee company Deposit Power is now under external administrators following the placement of Auckland-based CBL Insurance into interim liquidation. External administrators from Chifley Advisory were appointed to the company last week. Deposit Power acted as an authorised manager and agent of CBL Insurance which provided all the deposit guarantee bond products sold by Deposit Power…
The debt resolution of Essar Steel has turned into a full-scale corporate war between VTB Bank of Russia and LN Mittals ArcelorMittal, both of which have made multi-billion dollars offers for the Gujarat-based steel company. All eyes are now on the lenders meeting scheduled on Thursday. The lenders are expected to call for a…
By Ryan Smith for MailOnline Published: 12:02 AEDT, 7 March 2018 | Updated: 12:03 AEDT, 7 March 2018 e-mail View comments Coronation Street star Michael Le Vell has reportedly been declared bankrupt, after allegedly being slapped with a six-figure tax bill and £200,000 in legal fees. The 53-year-old actor, who is said to earn £250,000 a…
Alex Ralph About £700million of funds were frozen when the Financial Conduct Authority placed Beaufort into administrationChris Ratcliffe/Getty Images The administrator to Beaufort Securities, the failed City broker, has warned that it could take many months to return cash to investors. PWC confirmed that it expected to make substantial returns to clients after costs and…
Corrie veteran Michael Le Vell has been declared bankrupt despite earning £250,000 on Britains No1 soap. The actor, who plays Kevin Webster in the Street, failed to keep on top of his tax affairs, papers seen by the Mirror show. The latest blow follows admissions that he was an alcoholic who cheated on his wife…
Image copyright PA As many as 14,000 investors in the collapsed stockbroking firm Beaufort Securities should get a “substantial” amount of their money back. The official administrators, PwC, said that the firm’s clients should see between 85% and 90% of their cash returned to them. However, it will be at least a month before any…
MUMBAI: An arbitration court has restrained Reliance Communications (RCom) from selling or transferring assets without its permission, and set June 9 as the date for the next hearing, dealing a blow to the Anil Ambani-owned telcos efforts to pare debt by March end under a plan driven by its lenders. We direct the Claimant (RCom)and…
Over the last two years, the courts have overturned 78 decisions by creditors to refuse personal insolvency arrangements for those in severe debt and at risk of losing their homes. There are a further 500 cases in the pipeline, according to Justice Minister Charlie Flanagan. In November 2015, the section 115a court review process came…
Over the last two years, the courts have overturned 78 decisions by creditors to refuse personal insolvency arrangements for those in severe debt and at risk of losing their homes. There are a further 500 cases in the pipeline, according to Justice Minister Charlie Flanagan. In November 2015, the section 115a court review process came…