State-run Bank of India (BoI) today said it has entered into an agreement with National E-Governance Services (NeSL) for information utility (IU) arrangement under the Insolvency and Bankruptcy Code (IBC). (PTI) State-run Bank of India (BoI) today said it has entered into an agreement with National E-Governance Services (NeSL) for information utility (IU) arrangement under…
Recently, the Reserve Bank of India (RBI) introduced the ‘Resolution of Stressed Assets – Revised Framework’, replacing the regime of voluntary restructuring for Indian banks. Since restructuring had become the default go-to option for banks and defaulting borrowers, this move, which puts banks under very stringent disclosure and deadline schedules, has created a significant stir…
Mumbai: Tata Steel, which emerged as the successful bidder for stressed alloy maker Bhushan Steel in the bankruptcy process, is raising up to Rs 17,000 crore in loans from a consortium of about six private and foreign financiers, said three people with direct knowledge of the matter. The company is in talks with lenders including…
TONY BENNY/STUFF Forestland companies are headed for liquidation. The Financial Markets Authority has applied to the High Court to place 18 Forestlands companies into liquidation because it has no faith in the company’s director to look after the interests of shareholders. For the past year the Serious Fraud Office and FMA have been investigating Motueka-based Forestlands after…
After months of fruitless efforts to reach a bailout, Tel Aviv District Court Judge Eitan Orenstein ordered Shaul Elovitchs Eurocom Communications be put into liquidation and its sister company, Eurocom Real Estate, into receivership. … Read the full article at: https://www.haaretz.com/israel-news/business/.premium-court-orders-eurocom-parent-company-of-bezeq-into-liquidation-1.6015539
Tel Aviv District Court Judge Eitan Orenstein today issued a liquidation order for the Eurocom Group. The order will take effect on May 3, as requested by the banks. The official temporary receiver was appointed as the temporary liquidator for Eurocom Communications, and the banks’ lawyers were appointed as special managers for the company. The…
Tel Aviv District Court Judge Eitan Orenstein today issued a liquidation order for the Eurocom Group. The order will take effect on May 3, as requested by the banks. The official temporary receiver was appointed as the temporary liquidator for Eurocom Communications, and the banks’ lawyers were appointed as special managers for the company. The…
Retailers are filing for bankruptcy at record-high rates as Americans changing shopping habits, along with years of overly aggressive store growth, continue to shake up the industry. Just four months into the start of 2018, 11 US retailers have already filed for bankruptcy or announced liquidations. Heres the retail carnage so far this year: Nine…
Calcutta: The corporate insolvency resolution process initiated against bankrupt Binani Cement is set to miss the 270-day deadline stipulated under the Insolvency & Bankruptcy Code, 2016 as challenges thrown at the resolution plan from several quarters, including UltraTech Cement, continue to be heard by the Calcutta bench of the National Company Law Tribunal. Judicial members…
Bon-Ton Stores, parent company of Herbergers, announced Tuesday that a winning bid of $775.5 million was made by liquidators Great American Group and Tiger Capital Group and a group of Bon-Tons debt holders. While we are disappointed by this outcome and tried very hard to identify bidders interested in operating the business as a going…