Ten has defended its market disclosures in the lead up to its appointment of administrators. Ten Network says it did not tell shareholders that James Packer was pulling the plug on his financial support for the troubled broadcaster because his backing was not a factor in its share price. Ten administrator Kordamentha said on Tuesday…
With the news of a well-known building company facing insolvency move, Indian star cricketers MS Dhoni (former brand ambassador of the firm) and Harbhajan Singh faced flak from those who invested their money in the real estate firms projects. Reports have emerged that the process of corporate insolvency resolution, under the Insolvency and Bankruptcy Code…
National Company Law Tribunal (NCLT) is finding it difficult to get qualified judges to meet the growing demand of bad loan resolution cases filed by bankers and corporates. The NCLT is adding new Benches and interviewing more judges to keep pace with the cases being admitted. But yes, it is becoming more challenging to get qualified…
The National Company Law Appelate Tribunal (NCLAT) has dismissed an appeal by builder Neelkanth Township against bankruptcy proceedings, saying its reference to a 1963 law that prescribes a time limit to initiate recovery of loans is not applicable. The decision may allow small-ticket lenders to recover their money. Several operational and smallticket lenders who had…
Ten Network says it did not tell shareholders that James Packer was pulling the plug on his financial support for the troubled broadcaster because his backing was not a factor in its share price. Ten administrator Kordamentha said on Tuesday that the broadcaster first learned on May 2 that Mr Packer’s Consolidated Press Holdings would…
NEW DELHI: After Jaypee Infratech, the process of corporate insolvency resolution under the insolvency and bankruptcy code is likely to be initiated against three Amrapali group companies -Noida’s Silicon City and Greater Noida-based Ultra Home Construction and Amrapali Infrastructure -on the plea of Bank of Baroda. A bank official said the National Company Law Tribunal‘s…
THE question ‘will this business stay afloat’ is probably the furthest thing from shoppers’ minds when they place products on lay-by. But maybe that should be the first. As Bubs Baby Shops goes into voluntary administration Coast shoppers have again been left wondering whether they’ll get the products they’ve put down payments on, or if…
A STRING of companies linked to The Convent in Woodchester have been placed in temporarily liquidation by the government to protect more than £7.8 million raised by investors. The investigation, led by the Insolvency Service, has seen the seizure of 13 companies run by Matt and Charlotte Roberts, all operated from hotel and music venue…
A Queensland boarding school failed to properly care for a student after she was allegedly gang-raped by older boys while boarding there in 2006, a royal commission has been urged to find. Counsel assisting the Royal Commission into Institutional Responses to Child Sexual Abuse, David Lloyd, made submissions harshly criticising Townsville’s Uniting Church-run Shalom Christian…
Distressed debt players are used to getting their hands dirty, but the team from SC Lowy might be about to take that a bit further as they run their eye over one of Australia’s biggest hydroponic farms. Maria’s Farm Veggies is a $65 million venture that was to grow tomatoes and capsicums inside a 16-hectare glasshouse at Williamtown…