This Article traces implementation of IBC and progress achieved over the past one year and the challenges faced by each of the of the Pillars during their one year of journey. For the sake of convenience and better understanding, the article is divided into four parts. Part-I Captures Criticality of IBC as a piece of…
Financially slumping Toys R Us began sales at select locations this week as the company prepares to close about 150 stores 24 of them in California according to a press release by one of the firms operating the liquidation sales. Though the press release does not specify which locations are participating, liquidation will lead to…
Arts Illuminated, the publisher of classical music magazine Limelight, is searching for a buyer for its masthead as the company teeters towards liquidation. I couldnt weather the monthly highs and lows anymore, publisher Andrew Batt-Rawden told Mumbrella yesterday. I started the company in debt, and as a starving artist I had no assets to borrow against.…
Staff at embattled Perth building company Cooper & Oxley have been told their employer has a 50-50 chance of surviving after the company was yesterday placed in administration. As the move was being announced, dozens of the companys employees gathered at its Jolimont headquarters to be briefed by representatives from insolvency firm Hall Chadwick, which…
ANI | Updated: Feb 07, 2018 21:54 IST
The norms for fast track insolvency proceedings have been tweaked wherein both fair value and liquidation value need to be assessed for the entity concerned. Under fast track mode, the resolution process is to be completed in 90 days. The Insolvency and Bankruptcy Board of India (IBBI) has amended the Fast Track Insolvency Resolution Process…
New Delhi, Feb 7 (IANS) The Insolvency and Bankruptcy Board of India has amended the regulations on the insolvency resolution process for corporate persons, an official release said here on Wednesday. As per the revised framework, two registered valuers shall be appointed to determine the fair value and the liquidation value of the corporate debtor.…
Carly Laden | Broome Advertiser Thursday, 8 February 2018 12:36PM Broome RSL is going into voluntary administration although it will remain open. Picture: Carly LadenPicture: Carly Laden Broomes RSL branch will be going back to basics after going into voluntary administration. RSL WA has appointed former Shire president Graeme Campbell as the administrator to be…
Insolvency resolution professionals will now be required to assess the fair value and liquidation value of the entity undergoing insolvency proceedings, with the latest set of amendments to the regulations. The Insolvency and Bankruptcy Board of India (IBBI) has amended the norms pertaining to insolvency resolution process for corporate persons. Under the revised framework, the…
New Delhi: The Insolvency and Bankruptcy Board of India (IBBI) on Wednesday issued amendments to the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, effective today. The amendments, highlighted in a notice issued by the Ministry of Corporate Affairs noted that a resolution professional shall appoint two registered valuers…