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…
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,…
Last weeks Finance Bill 2016 gave more detail of the changes to the taxation of company distributions — an area which was ominously foreshadowed for reform in the 2015 Autumn Statement, writes David Whiscombe, partner at tax advisory BKL. Although the following analysis is based on the only limited HMRC guidance available so far and…
Illustration: David Rowe History will be made and $500 million in funds released to creditors when federal court judge Steven Rares approves a settlement between the liquidators of Lehman Bros Australia and its United States parent in Sydney on Friday. The federal court settlement is a tribute to the canny international legal tactics adopted by…