Fugitive Indian businessman, the 65-year-old chairman of UB Group, Vijay Mallya was declared bankrupt on Monday by the Insolvency and Companies Court of the London High Court.After being declared bankrupt by the British court allowing Indian banks to pursue his assets worldwide, Vijay Mallya launched a tirade on Twitter accusing lenders of making him bankrupt.…
Following London High Court declaring businessman Vijay Mallya as bankrupt, the fugitive said the Enforcement Directorate is attaching his assets worth Rs 14,000 crores against debt of Rs 6,200 crores. He also levelled allegation that the banks are making him bankrupt since they have to return money to the ED. ED attach my assets worth…
Sydney, July 27, 2021 The latest Business Stress Report released by insolvency specialist firm, Dissolve, highlights a significant and unexpected downturn in corporate and personal insolvencies in Australia since the Covid outbreak. But rather than be a cause for celebration regarding the impact of Covid on Australian businesses, the Dissolve report identifies several underlying factors…
The government on Monday introduced a bill in the Lok Sabha to amend the insolvency law and provide for a pre-packaged resolution process for stressed MSMEs. TopicsInsolvency and Bankruptcy Code|NCLT|MSMEs Punishment would be meted out for offences related to pre-packaged insolvency resolution process The government on Monday introduced a bill in the Lok Sabha to…
In a major setback for Vijay Mallya, the London court on Monday declared the fugitive businessman bankrupt. The verdict will help the consortium of Indian banks led by the State Bank of India in recovering debt from loans worth Rs 9,000 crore by seizing his assets. Read the full article at: https://www.latestly.com/quickly/india/news/fugitive-businessman-vijay-mallya-declared-bankrupt-by-london-high-court-2678878.html
The Nassau County Industrial Development Agency has agreed to help the retired community in Port Washington recover from a second bankruptcy for the first time in seven years because of concerns about the welfare of the elderly. The split IDA Board last week resolved to issue additional bonds and give Amsterdam on the harborside an…
NEW DELHI: Fugitive businessman Vijay Mallya was declared bankrupt by a UK court on Monday, paving the way for a consortium of Indian banks led by the State Bank of India (SBI) to pursue a worldwide freezing order to seek repayment of debt owed by the now-defunct Kingfisher Airlines.“As at 15.42 [UK time], I adjudicate…
Non-Fiction updates Sign up to myFT Daily Digest to be the first to know about Non-Fiction news. Somebody tell me where Ken Liangs breakfast is so I can dip my balls in it, yelled David Sambur. So begins chapter 30 of The Caesars Palace Coup. That kind of remark passes for humour in the rarefied…
David Tannock With more than 18 years experience in the insolvency sector, David joins from an accountancy and business advisory services firm in Glasgow where he spent almost four years as an insolvency manager, having previously worked for another chartered accountancy practice in the city for nine years. David has a broad range of experience…
1. How big is the problem? Chinese defaults were at a record pace by mid-year with more than $25 billion in onshore and offshore payment failures. That compares to $29.9 billion for all of 2020. Defaults in the private sector in China actually dropped early last year, largely due to pandemic-related pressure valves such as…