By Deep Narayan Mukherjee As per RBI deputy governor SS Mundra, total distressed loans account for 14% of banking sector assets in India. Such a high level of bad debt was last observed in India way back in 1999 (Source: World Bank). However, every crisis also provides an opportunity to improve a system. There is…
A company connected to popular weekend destination The Grounds of Alexandria has been placed in voluntary administration, but it is business as usual for the famous brunch locale. According to a notice published by the Australian Securities and Investments Commission, external administrators were appointed to The Grounds of Alexandria Pty Limited last week. Ozem Kassem…
A major social enterprise in Huddersfield has gone into voluntary liquidation. And there are fears for dozens of jobs and an historic archive of music. Insolvency experts Brook Business Recovery Limited confirmed that Deighton-based Fresh Horizons has ceased operations, following a meeting with creditors at a meeting yesterday. It is not yet known exactly why…
Alastair Meeks of Pinsent Masons, the law firm behind Out-Law.com, was commenting as the Pensions Regulator revealed that it had only approved 24 such arrangements, almost eight years after the mechanism was set out in law. An RAA can be used to transfer an employer’s pension liabilities to the Pension Protection Fund (PPF), but only…
WOODBRIDGE, N.J., March 15, 2016 — EMRISE CORPORATION (formerly traded on OTCQB under the symbol EMRI) (EMRISE or the Company), today announced that the Company expects to make a second liquidation distribution to its stockholders in the amount of $0.36 per share (approximately $3.9 million in the aggregate) during the week of April 19, 2016…
Nigella Lawsonis closing her TV production company (Picture: BBC) While none would dispute Nigella Lawsons expertise in the kitchen, it seems her television production company has been overdone. The buxom 56-year-old TV chef has placed her production company, Pabulum Productions, into voluntary liquidation. The announcement follows news that Nigellas TV show The Taste was axed…
Over the past three decades, global interest in emerging markets has soared, and when the financial crisis of 2008 hit, emerging markets were largely thought to be the next engine of global growth. Insofar as they have complied with this investor aspiration over the past few decades, they have also adopted a negative aspect of…
You know the economy is slowing when insolvency, litigation and dispute work starts streaming in to law firms. That is certainly the case at Big Four law firm Rajah & Tann, whose lawyers in these areas are the busiest at the company these days. Mr Chia Kim Huat, Rajah & Tann’s regional head of corporate…
©Bloomberg Sir Philip Green The crisis at British Home Stores barely registers on the countrys high streets. Many years have passed since the shopping public thronged the department-store chains aisles and tills. But how it plays out still matters a great deal to the companys 20,000 pensioners, as well as its former owner, the retail…
New Delhi: March 15, 2016, DHNS Finance Minister Arun Jaitley on Monday urged the Opposition to help pass bankruptcy and insolvency laws in Parliament, in absence of which, the government was unable to get a firm handle on the long pending issue of non-performing assets (NPAs), and wilful defaulters. The country needs bankruptcy and insolvency…