MUMBAI: Bharti Airtel has accused bankrupt Aircel, which is trying to recover its dues from Indias No. 2 telco, of working towards benefitting its financial lenders at the cost of operational creditors. Aircel entities or their resolution professional are seeking to enlarge the scope of their legal appeal, possibly with a view to take illegal…
Douglas Fraser Business/economy editor, Scotland 4 January 2019 Health Environmental Services has stopped trading, unable to access its remaining funds, with workers fired. Scots law on company insolvency has led to an impasse, where it may prove impossible for creditors to place the firm in administration. The company boss battles on, trying to find a…
NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) Friday suggested that all further proceedings for transfer of assets of crisis-hit Infrastructure Leasing and Financial Services Ltd (IL&FS) should take place under the supervision of a retired Supreme Court judge. The new management of the IL&FS is considering assets sales to bail out the company…
Luxury skincare retailer Crabtree & Evelyn is winding down its Australian operations, amidst a global wind-down of its operations. The business has appointed restructuring firm KordaMentha to handle the closure locally and expects all 12 stores in Australia to close by the end of January, affecting approximately 100 staff. Crabtree & Evelyn recently announced the…
Many schools across the country have too much lead in their tap water, but most are not even testing for it, according to new research published Wednesday. Many schools across the country have too much lead in their… Read the full article at: https://www.bigcountryhomepage.com/news/main-news/lead-in-water-study-shows-many-schools-have-far-too-much/1695978322
Good morning, this is Eleanor Ainge Roy bringing you the main stories and must-reads on Thursday 10 January. Top stories The director of the collapsed flight booking service Bestjet has told a meeting of the companys creditors he was forced to put the company into voluntary administration after he did not receive a promised $3.2m…
newsletters, editors-pick-list, Martin Building Services, liquidation, builder, Denis Martin, James Shaw, Shaw Gidley, insolvency ONE of the Hunters best-known homegrownbuilders, Martin Building Services, has foldedwith debts of almost $10 million. The company, which began in Maitland almost 20 years ago, was placed in the hands of insolvency expertsin December at the request of director and…
Can you proceed against the Corporate Guarantor before proceeding against the Corporate Debtor? NCLAT answers in this Judgment Aditi Singh January 10 2019 An NCLAT Bench comprising Chairperson Justice SJ Mukhopadhyaya, Member (Judicial) Justice A.I.S. Cheema and Member (Technical) Balvinder Singhhas held that Corporate Insolvency Resolution Process (CIRP) can be triggered against the corporate guarantor…
Harish Puppala | Rakesh Sharma Moneycontrol Contributor 2018 was a difficult year for banks – their reputations suffered massively after it came to light that most of them had large NPAs, sins they committed knowingly. One year prior, in 2017-18, the gross NPA ratio of all scheduled commercial banks reached 11.2percent of the gross advances,…
MUMBAI: The Supreme Court has allowed Aircel employees to file a contempt case against Bharti Airtel, its unit Bharti Hexacom and the telecom department for not returning Rs 453 crore to the company as ordered by the apex court. Permission to file contempt petition is granted, the court said on Wednesday. It said Bharti Airtel…