Asias increased borrowing in recent decades has augmented the regions exposure to rising interest rates and heightened market volatility. Borrowing by the regions governments, companies, consumers, and financial firms is well above levels prior to the global financial crisis, as we recently noted. In particular, industries that rapidly increased leverage while interest rates were low…
The Hyderabad bench of the National Company Law Tribunal (NCLT) has approved Dharampal Satyapal Group’s resolution plan for Viceroy Bangalore Hotels. The hospitality company owns the Marriott-managed five-star Renaissance Bengaluru Race Course Hotel, and has around 1,100 crore of unpaid debt. The New Delhi-based acquirer has proposed 300 crore to buy the company in a…
Ian Royle and Louise Longley who have been promoted to partner at Begbies Traynor Louise Longley and Ian Royle have been promoted to the position of partner in the Yorkshire region by leading rescue and recovery specialist Begbies Traynor. Having joined Begbies Traynors Leeds office in 2004 as an insolvency administrator, Louise qualified as an…
IBC: Guarantor’s Liability Not Always Co-Extensive With Borrower, Says Insolvency Tribunal Law & PolicyIBC: Guarantor’s Liability Not Always The Same As The Borrower, Says Insolvency Tribunal ADVERTISEMENT 24 May 2023, 7:17 PM IST 24 May 2023, 7:17 PM IST 24 May 2023, 7:17 PM IST WhatsApp Twitter Facebook Telegram Read the full article at: https://www.bqprime.com/law-and-policy/ibc-guarantors-liability-not-always-the-same-as-the-borrower-says-insolvency-tribunal
The future of a private hospital in the central west of NSW hangs in the balance after it went into voluntary administration. The Orange Private Hospital, which is advertised as “a boutique short-stay private hospital located in the heart of Orange”, employs almost 100 staff including 32 surgeons. Administrator Ernst and Young issued a statement…
A private hospital in the New South Wales central west has entered voluntary administration less than two years after opening. Key points: Orange Private Hospital employs almost 100 staff and surgeons Administrators say their objective “is to secure the long-term” future of the service The hospital opened less than two years ago The Orange Private Hospital employs…
South Australian residential construction company Felmeri Homes has entered into voluntary administration, leaving customers with incomplete builds in the lurch. The home builder, which has been in the industry for 30 years, was placed under external administration on Friday owing creditors about $2m. The collapse comes after the family-owned business was subject to several serious…
JSW Steel on Monday announced that its wholly-owned subsidiary JSW Steel Coated Products Limited (JSWSCPL) will complete the acquisition of National Steel and Agro Industries (NSAIL) for a total consideration of 621 crore. JSW Steel Coated Products, wholly-owned subsidiary, got approval in respect to corporate insolvency resolution process of NSAIL. JSW Steel Coated Products Limited…
National Company Law Appellate Tribunal (NCLAT) on Monday upheld crisis-hit Go First airlines insolvency ordered by National Company Law Tribunal (NCLT) and directed for certain modifications to tribunal’s order. NCLAT refused to allow lessors to take back possession of aircraft and asked them to move NCLT for any remedy in Go First insolvency proceedings matter. The lessors…
Restructuring specialist Begbies Traynor is forecasting annual results to surpass expectations following a significant rise in companies becoming insolvent. Revenues at the AIM-listed group are now set to expand by around 11 per cent to 122million for the year ending April, while adjusted pre-tax profits are predicted to increase by about 16 per cent to…