By Tracy Rucinski and Jim Christie (Reuters) – Former telecommunications equipment company Nortel Networks Ltd reached an agreement with their various business units on Wednesday to divvy up the $7.3 billion raised from liquidating the failed company, paving the way for pensioners and creditors to get paid after a seven-year wait. Ontario-based Nortel stumbled from…
By Tracy Rucinski and Jim Christie Former telecommunications equipment company Nortel Networks Ltd [NRTLQN.UL] reached an agreement with their various business units on Wednesday to divvy up the $7.3 billion (5.98 billion pounds) raised from liquidating the failed company, paving the way for pensioners and creditors to get paid after a seven-year wait. Ontario-based Nortel…
MXG on the TSXOTC:MXGFF on the OTCBB Maxim Power is an independent power producer based in Canada but with it’s major operations in the Northeast United States, followed by France, with the Alberta power market it’s smallest. Maxim shareholders have suffered for a very long time, with promises of growth stymied by the company’s lack…
AVON, Conn.–(BUSINESS WIRE)–Voluntary carriers surveyed in Eastbridges Administrative Practices of Voluntary Carriers study continue to see increased requests for online self-service capabilities at both the employer and employee levels. Those mentioned most frequently include an online/portal for payments and bill reconciliation, online claims submission for employees, and enhanced integration of all technologies being utilized (enrollment,…
BUSINESSES remain concerned about the upcoming changes with Brexit, but insolvency numbers have fallen during this third quarter. According to a survey from Pinsent Masons, 62% of the UK insolvency industry believe that Brexit will lead to an increase in business failures over the next year. However, new analysis from KPMG has showed that despite economic…
Jawbone is caught in a dispute among its investors that may force the slumping maker of fitness trackers to surrender control of its assets to one of them. But CEO Hosain Rahman has told his employees that he has funding commitments sufficient to save the company. Investment manager Blackrock, which backed Jawbone last year with…
New Delhi: The government notified on Tuesday draft regulations outlining the process by which companies can go through liquidation and insolvency under the Insolvency and Bankruptcy Code, 2016. These regulations are part of the rules being notified to implement the bankruptcy code and in the process improve the ease of doing business in India. Last…
By: ENS Economic Bureau | New Delhi | Published:October 12, 2016 1:20 am To put the recently enacted Insolvency and Bankruptcy Code into practice, the government on Tuesday unveiled three sets of draft rules specifying how to make an application to the adjudicating authority, the insolvency resolution process for corporate persons and liquidation of insolvent…
The firm surveyed attendees at the Pinsent Masons Restructuring and Insolvency Conference last week, to gauge their views towards some of the issues impacting the industry in 2016. Of the over 400 attendees at what is the largest industry conference in Europe, 62% believed that business failures would increase in the aftermath of the UK’s…
NEW DELHI: Government today came out with another set of draft rules, including for liquidation of insolvent corporate persons, under the Insolvency and Bankruptcy Code. As part of implementing the Code, the government has already constituted the Insolvency and Bankruptcy Board of India (IBBI) while the draft norms will be finalised after taking into consideration…