Real estate developers on Tuesday demanded protection from insolvency proceedings for at least a year as the sector had been severely hit financially due to the pandemic. They also wrote to the Centre and the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) seeking more time to repay loans. Section 7 of Indian Bankruptcy Code (IBC)…
Equity Trustees now manages $30 billion of superannuation money up from $12 billion last year. The walls of the Melbourne headquarters of Equity Trustees (ASX: EQT) are adorned with the portraits of former prime ministers, premiers and governor generals who have served on the board of the stately 133-year-old institution. The roll call of dignitaries…
Virgin Australia is driving analytics into every corner of its revived business, creating a playbook for every business unit that can be used to drive growth and profitability as the airline sector recovers. Head of the analytics centre of excellence (COE) Paul Tran told the SAS Global Forum that the airline has elevated analytics to…
A Queensland single mother has shared her heartbreak of being left out of pocket and without a home after a building company’s collapse. Felicity Cameron told 9News former Queensland building company PlanBuild took her $10,000 deposit amid its soaring debt right before it went into liquidation. It’s left Ms Cameron standing on stones in her…
Arncliffe Youth Centre is now officially opened for all to enjoy. There were fears for the future of the youth centre after its builder was placed under voluntary administration in 2019. Bayside Mayor Joe Awada opened the Centre recently and said seeing the project through was all about community engagement. “The Arncliffe Youth Centre is…
TNNDelhi/Mumbai: Banks can look forward to improved recovery prospects from promoters of defaulting companies who have provided personal guarantees for corporate loans. The Supreme Court on Friday upheld the government notification of November 2019, which allowed banks to enforce the personal guarantee of the promoter if lenders are not able to fully recover their dues…
Friday, 21 May 2021 By Richard Barham When the coronavirus pandemic hit in Spring 2020, and the remainder of the 2019/20 football season was put on hold, there were widespread predictions of multiple football club insolvencies. In fact, since then, there have been very few (only Wigan Athletic and Bury have entered administration in that…
The Supreme Court on Friday affirmed the Central governments November 15, 2019 notification which enabled financial institutions to proceed against the promoters in their capacity as personal guarantors of the defaulting corporate debtor. The court ruling will clear the decks for creditors to recover the remaining debt from personal guarantors after the conclusion of the…
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The Supreme Court on Friday upheld the constitutionality of the Centre’s November 15, 2019, notification that had allowed financial institutions to pursue proceedings against personal guarantors, commonly promoters, of stressed companies facing insolvency. The apex court’s order will clear the decks for lenders to recover their remaining debt from personal guarantors following the conclusion of…