NEW DELHI: Providing clarity, the government today said resolution plans under the Insolvency and Bankruptcy Code does not require approval of the shareholders. The clarification comes against the backdrop of concerns in certain quarters about the possibility of promoters of a company blocking insolvency resolution process under the existing provisions of the Code. Provisions of…
Private banker Nathalie Dauriac has told the high court she became scared of her former mentor and business partner John Caudwell, accusing the Phones4U billionaire of bullying her during an investigation into her expenses. Speaking in court on Wednesday, Dauriac said Caudwell sought to intimidate her by making claims about wrongdoing as a pretext to…
(CN) In a ruling Wednesday that makes it easier for EU businesses to relocate their registered offices to different member states, the European Court of Justice called out a law in Poland that mandates liquidation as part of such moves. Liquidation is a useful way, the Luxembourg-based court found, at ensuring that a number of…
A printing company in the Scottish Borders has gone into liquidation with the loss of 15 jobs. The family-owned Meigle Colour Printers was founded more than 40 years ago. The company claims that in recent years the business has faced challenges, including the shift from printed to digital media. It says the rising costs of…
THERES been a bit of good news around Boolaroo lately. In August, $2.2 million in federal funding was announced for a 700-metre extension of Munibung Road to link the suburb with Cardiff. Just a few days ago, the NSW Court of Appeal found in favour of Bunderra Holdings, the developer of a residential estate on…
Kolkata, October 24: A public announcement inviting claims against Nicco Corporation Ltd, whose liquidation has been ordered by the National Company Law Tribunal (NCLT), has been released. According to Vinod Kothari, the liquidator appointed for Nicco, this will help determine the amount payable by the company. Defaults on loans Nicco, a specialised cable-maker, defaulted on…
The owner of an electrical contractor that has ceased trading after more than three decades admits it is a sad day. Steve Marshalls Netherfield-based company SJ Marshall Electrical Limited has entered voluntary liquidation, with all 34 staff made redundant yesterday (Monday, October 23). The firm had worked with national retailers and pub companies, as well…
Billionaire Sears Holdings (SHLD.O) Chairman Eddie Lampert is wading into the blame game over Sears Canadas demise. In a lengthy blog post, Lampert, who owned a large stake of the firm through ESL Holdings, said company management sowed the seeds of the retailers slide into insolvency by undertaking an ill-fated strategy when former Executive Chairman…
Bumps in the road I know of two male executives who have been looking for roles. These are highly qualified and experienced men with excellent track records in large listed companies one at CEO level. Both have hit what you might call bumps in the road recently. One experienced a downturn which led to the…
Canberra cloud provider 4Data has gone bust for the second time in as many years after its director was ordered to pay $3.5 million to the Australian Taxation Office. The previous incarnation of Digital Digest Data Design (4Data) traded for 21 years before entering administration in May 2015, and was subsequently liquidated. The company pinned…