NEW DELHI: Resolution plans under IBC have yielded 200% of liquidation value for creditors in addition to rescuing viable firms, IBBI Chairperson M S Sahoo has said. “They are realising, on an average, 45 per cent of their claims through resolutions plans under the Corporate Insolvency Resolution Process (CIRP), which takes on average 300 days…
From: Department of Finance Canada April 25, 2019 Toronto, Ontario Department of Finance Canada Every Canadian should feel good about what the future holds, and confident that support will be there when they need it. That includes Canadas seniors, who deserve a secure and dignified retirement after a lifetime of hard work. Budget 2019 is…
The number of people in Scotland being declared insolvent rose by more than 20% in a year, new figures indicate. Accountant in Bankruptcys provisional estimates show personal insolvencies increased 20.5% from 10,602 to 12,779 between 2017/18 and 2018/19. The increase was driven by a type of insolvency agreement called a protected trust deed, which rose…
Corporate Insolvency Resolution Process (CIRP) has been initiated in respect of Nagarjuna Oil Refinery Limited under the provisions of Insolvency and Bankruptcy Code, 2016 (IBC) by way of an order dated April 09, 2019 of NCLT, Hyderabad bench (copy of the Order received by me on April 22, 2019) Further, Mr. Kranthi Kumar Kedari (IP…
A forensic audit of 200 top companies by the Ministry of Corporate Affairs has detected irregularities to the tune of Rs 1 lakh crore, including diversion of funds. Most of these companies have been referred to insolvency and resolution proceedingsunder the Insolvency and Bankruptcy Code. Irregularities detected in some top companies point to the collapse…
Images via Ellery … Read the full article at: https://fashionjournal.com.au/fashion/kym-ellery-announces-she-will-close-the-australian-arm-of-her-business/
A forensic audit of 200 top companies by the Ministry of Corporate Affairs has detected irregularities to the tune of Rs 1 lakh crore, including diversion of funds. Most of these companies have been referred to insolvency and resolution proceedingsunder the Insolvency and Bankruptcy Code. Irregularities detected in some top companies point to the collapse…
TWO Sunshine Coast supermarkets have closed after the business went into liquidation just before the Easter long weekend. The Kawana Island Friendly Grocer and Forest Park Foodstore at Meridan Plains have been listed on the Australian Securities and Investments Commission as in liquidation. The company behind the stores, Yasnis Pty Ltd, is owned by Himanshu…
Herbert Smith Freehills (HSF) has elevated six Australian lawyers to executive counsel. The six, who follow the six Australian lawyers promoted to partner by the firm last week, are among 27 counsel promotions around the world. Andrew Pike, HSF regional managing partner in Australia, said that the newly promoted lawyers are all incredibly talented. The…
TWO Sunshine Coast supermarkets have closed after the business went into liquidation just before the Easter long weekend. The Kawana Island Friendly Grocer and Forest Park Foodstore at Meridan Plains have been listed on the Australian Securities and Investments Commission as in liquidation. The company behind the stores, Yasnis Pty Ltd, is owned by Himanshu…