A showdown with angry and unpaid Eastern Goldfields creditors was speedily averted at last week’s Diggers & Dealers conference, but not all creditors were headed off. A number of suppliers had threatened to protest their lack of payment at the mining conference after hearing that executive chairman Michael Fotios planned to make a presentation. They…
Can Flat Buyers initiate insolvency proceedings against Builders under the Insolvency & Bankruptcy Code? This question assumes greater significance now because many real estate giants are facing insolvency proceedings in various Company Law Tribunals under the new I & B Code, 2016 across the country. Latest is the case of J.P. Infratech which is one…
A SHAMBOLIC care company has gone into liquidation with debts of more than £700,000 after failures that left vulnerable adults at risk of abuse. A large-scale multi-agency enquiry is now underway and police are investigating allegations into Alo Care Ltd which runs Alo Community Services from Highcliffe, Bellus Lodge, Somerford Avenue in Christchurch and Ado…
A SHAMBOLIC care company has gone into liquidation with debts of more than £700,000 after failures that left vulnerable adults at risk of abuse. A large-scale multi-agency enquiry is now underway and police are investigating allegations into Alo Care Ltd which runs Alo Community Services from Highcliffe, Bellus Lodge, Somerford Avenue in Christchurch and Ado…
New Delhi: Resolving the non-performing assets (NPAs) crisis has been a priority for the government. News18 has learnt that the Finance Ministry is thinking of a plan B, to be deployed if the current approach to resolving bad loans does not make substantial progress within a few weeks. The government and the Reserve Bank of…
Lanco Infratech Ltd, against which Corporate Insolvency Resolution Process has been initiated, has said that the management of the affairs of the company vests with Savan Godiawala, who has been appointed as the Interim Resolution Professional. Mr.Godiawala was appointed as the IRP with effect from August 7, under the provisions of the Insolvency and Bankruptcy…
A class action will seek to recoup as much as $100 million in GST that may have been incorrectly charged on the sale of apartments in the ACT. International litigation funder IMF Bentham, which is working with Corrs Chambers Westgarth, announced the law suit to the ASX on Tuesday morning. It has lodged a statement…
MUMBAI: The National Company Law Tribunal (NCLT) on Monday admitted proposals for the merger between Aircel and Reliance Communications‘ wireless business, as well as the latter’s sale of its tower business to Canada’s Brookfield. The Anil Ambani-owned telco’s shares were up nearly 19% intraday, closing 16.1% higher on Monday at Rs 24 a piece on…
Contract Services: 102 jobs to go as building firm folds 14 August 2017 From the section South East Wales Image copyright Google Image caption Contract Services has blamed ‘unexpected cash flow’ problems A south Wales building and maintenance firm has called in liquidators with the loss of 102 jobs. Contract Services (South Wales) Ltd has…
NEW DELHI: The government is exploring ways of resolving a long-brewing real estate crisis that’s left home buyers in the lurch as developers have struggled to complete projects. With many of these delayed for up to five years and more, one of the proposals under consideration is raising money to finish stalled buildings by selling…