By Express News Service Corporate insolvency and resolution is a work in progress. To smooth out its kinks, the Insolvency and Bankruptcy Board of India (IBBI) had, last week, proposed additional changes, allowing companies to withdraw an application from undergoing the insolvency process. Such an option doesnt exist now, and as a result though, several…
STUFF Lights blazed late into the night as CBL Insurance staff attempted to save the company in 2018. The failures of CBL Insurance has led to a review at the Reserve Bank. CBL Corporation, which was once valued at $750 million, has been placedintoliquidation by the HighCourt in Auckland. CBL Corporation was a feature of…
NEW DELHI: India has begun work on a universal debt relief scheme for small borrowers aimed at micro enterprises, small farmers and artisans, which should be ready for implementation when the next government is in place. Individuals below a specified income and asset threshold will be eligible for debt relief. People with annual income of…
Eight out of ten companies entering insolvency in the first three months of 2019 were incorporated more than five years ago, new figures show. The data, which has been compiled by Deloitte, indicates that 195 companies entered insolvency during the first quarter, a marginal increase on the 188 insolvencies recorded for the same period a…
LIQUIDATORS of failed Queensland hair dressing chain Supercuts are hopeful a buyer will emerge for the 32-year old business that closed earlier this week with the loss of 76 jobs. Pontefract Pty Ltd, which traded as Supercuts Hairdressing Salons, was voluntarily placed in liquidation on May 7, with Mark Pearce and Michael Dullaway of Brisbane-based…
The Insolvency and Bankruptcy Board of India (IBBI) proposes to make the legal regime around withdrawal of resolution applications under the Insolvency and Bankruptcy Code (IBC) more practical. This, in turn, will give the original promoters a wider opportunity to seek resolution outside the IBC process and thereby gain back control of their companies. Plans…
NEW YORK, May 09, 2019 (GLOBE NEWSWIRE) — New York REIT Liquidating LLC (the Company or the LLC), which was formed to complete the liquidation of the assets previously held by New York REIT, Inc., announced today it has filed its Quarterly Report on Form 10-Q for the quarter ended March 31, 2019. All per…
LIQUIDATORS of failed Queensland hair dressing chain Supercuts are hopeful a buyer will emerge for the 32-year old business that closed earlier this week with the loss of 76 jobs. Pontefract Pty Ltd, which traded as Supercuts Hairdressing Salons, was voluntarily placed in liquidation on May 7, with Mark Pearce and Michael Dullaway of Brisbane-based…
LIQUIDATORS of failed Queensland hair dressing chain Supercuts are hopeful a buyer will emerge for the 32-year old business that closed earlier this week with the loss of 76 jobs. Pontefract Pty Ltd, which traded as Supercuts Hairdressing Salons, was voluntarily placed in liquidation on May 7, with Mark Pearce and Michael Dullaway of Brisbane-based…
LIQUIDATORS of failed Queensland hair dressing chain Supercuts are hopeful a buyer will emerge for the 32-year old business that closed earlier this week with the loss of 76 jobs. Pontefract Pty Ltd, which traded as Supercuts Hairdressing Salons, was voluntarily placed in liquidation on May 7, with Mark Pearce and Michael Dullaway of Brisbane-based…