The Insolvency and Bankruptcy Code, 2016, primarily aims to achieve reorganization and insolvency resolution in a time-bound manner for maximizing the value of assets of insolvents. The National Company Law Tribunal (NCLT), the adjudicating authority under the code, works to that end. However, being a creature of statute the NCLT must function strictly within the…
Dear Lifehacker, I’m getting on in life and at this point it seems unlikely that my credit card debts will ever be paid off in full. (I can barely afford the monthly interest repayments, let alone the outstanding debt.) I also don’t own much in the way of assets. So my question is: What happens…
FILE Post Newspapers employees outside their offices on Bwinjimfumu road after shutdown The Liquidators of the defunct Post Newspapers limited have promised to pay the creditors after selling the assets of the company following the Lusaka High Courts decision to declare the company insolvent. Recoveries Manager of the Post Newspapers Limited Robert Chabinga says he…
The Liquidators of the defunct Post Newspapers limited have promised to pay the creditors after selling the assets of the company following the Lusaka High Courts decision to declare the company insolvent. Recoveries Manager of the Post Newspapers Limited Robert Chabinga says he will start by paying secured creditors, former Post Newspapers employees, the Zambia…
SAI has branches in Worcester, Hereford and Northampton, while BM operates across London and the South East. The new merged company will be called Benedict Mackenzie. Company director Sanjay Swarup said: The combined entity of BM and SAI brings together more than 20 years of experience of providing insolvency and advisory services. The scale will…
DOMINIC Chappell purchased British high street chain BHS for £1 from Sir Philip Green in 2015 just over a year before its collapse with a multi-billion pensions black hole. Dominic Chappell has since been found guilty of failing to provide information to the Pensions Regulator after the chain went bust – but who is he…
Jan 12: Shares of Dish TV India Ltd dropped as much as 8.1 per cent to Rs 77. The stock hits its lowest since November 23. Dish TV stock posted biggest intraday percentage loss since July 21. About 15.8 million shares traded, about 2.7 times the 30 day average of 5.9 mlillion. The direct-to-home operator…
Dish TV and Videocon d2h had announced a merger in November 2016. Photo: Mint Mumbai: Direct-to-home (DTH) operator Dish TV India Ltd on Thursday pointed to the ongoing insolvency proceedings against Videocon group in the context of the delay in its planned merger with Videocon d2h. Dish TV and Videocon d2h had announced a merger…
Hyderabad, Jan 12: State Bank of India has initiated corporate insolvency proceedings against IVRCL Ltd. In a regulatory filing made with the BSE, the Hyderabad-based infrastructure company has informed that the provisions of Insolvency and Bankruptcy Code 2016 (IBC) have been invoked by the lender. The debt laden company said that SBI had initiated Corporate…
A fool and his money, as the saying goes, are soon parted (although I prefer James Vanden Boschs quip that a fool and his money are some party), but fools arent the only ones afflicted this way. Many highly intelligent people find themselves with financial problems, too. This is because your IQ has absolutely nothing…