Regis Insurance Company, a Pennsylvania-domiciled insurance company, was recently issued an order of liquidation by the Commonwealth Court of Pennsylvania. Regis, a writer of small commercial business based in Paoli, Pennsylvania, was licensed in and domesticated in Pennsylvania in 1979. The company is licensed only in Pennsylvania but did business in several other states within…
In another attempt to improve the ease of doing business, the government on Monday introduced the ‘Insolvency and Bankruptcy Code, 2015’ in Parliament that provides for resolution of insolvency within a time frame. The bill is aimed at promoting investments, which will lead to higher economic growth. Also, it provides for setting up of an…
Last Modified: Tue, Dec 22 2015. 12 28 AM IST The proposed bankruptcy code will cover individuals, companies, limited liability partnerships and partnership firms, and proposes a time-bound framework New Delhi: The government on Monday introduced a bill in Parliament that will make it easier for sick companies to either wind up their businesses…
Bill in Lok Sabha to consolidate, amend all bankruptcy laws New Delhi, December 21: The Modi-led government has taken a big step towards putting in place an effective legal framework for insolvency resolution in a time-bound manner. A Bill to consolidate and amend all laws relating to insolvency resolution so as to tackle the issue…
Seeking to improve ease of doing business, government introduced in Parliament the Insolvency and Bankruptcy Code, 2015 that provides for resolution of insolvency in a timebound manner. The bill aims at promoting investments, leading to higher economic growth. It also provides for setting up of a Insolvency and Bankruptcy Board of India to regulate professionals,…
NEW DELHI: Seeking to improve ease of doing business, government today introduced in Parliament the ‘Insolvency and Bankruptcy Code, 2015’ that provides for resolution of insolvency in a timebound manner. The bill aims at promoting investments, leading to higher economic growth. It also provides for setting up of a ‘Insolvency and Bankruptcy Board of India’…
The government has moved the Insolvency and Bankruptcy Code, 2015 in the Lok Sabha, which will provide a framework for time bound resolution of corporate bankruptcy, ensuring that stakeholder interest are protected and the assets are put to use quickly. The bill seeks to consolidate and amend the laws relating to reorganization and insolvency resolution…
By: ENS Economic Bureau | New Delhi | Updated: December 21, 2015 7:17 am The government will introduce a comprehensive bankruptcy Bill in Parliament on Monday, a move that could allow faster unlocking of stressed corporate assets and boost creditors ability to recover debts. The finance minister will introduce the Insolvency and Bankruptcy Bill in…
JOSEPH JOHNSON/FAIRFAX NZ Honeypot Cafe owner Brendan Alcock. Christchurch’s Honeypot Cafe has gone into liquidation for a second time, owing at least $250,000. Owners Brendan and Sophie Alcock took over the Colombo St cafe on August 7, 2013, after the previous company,running it went into liquidation. The couple, who were new to the hospitality industry,…
Another round of investors are fleeing troubled law firm Slater & Gordon as speculation mounts its board is clearing the decks ahead of a potential corporate restructure, while lawyers poise themselves to launch class action suits against the class action specialist. At the 4.15pm (AEDT) official market close on Friday, Slater & Gordon shares had…