Next year, luxury fashion group Oroton is due to turn 80. One needs only to think back to the days when mum or granny carried those Oroton silver or gold Glomesh bags on a big night out to get a sense of brand nostalgia. Whether it survives to mark the occasion now rests with the…
NEW DELHI: Domestic equity markets are likely to see a flat to positive start on Friday, tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and global cues. Nifty futures on the Singapore Stock Exchange were trading 15 points, or 0.14 per cent, higher at 10,547.50, indicating a positive start for the Nifty50 in…
FRANKFURT (Reuters) – A Berlin court on Thursday rebuffed a legal challenge to the insolvency filing of airline Niki, which could derail the sale of the Air Berlin (AB1.DE) unit to Britains IAG (ICAG.L), and referred the case to a higher court for a ruling. Niki filed for insolvency in Berlin last month after Germanys…
FRANKFURT (Reuters) – A Berlin court on Thursday rebuffed a legal challenge to the insolvency filing of airline Niki, which could derail the sale of the Air Berlin <AB1.DE> unit to Britain’s IAG <ICAG.L>, and referred the case to a higher court for a ruling. Niki filed for insolvency in Berlin last month after Germany’s…
The insolvency regulator has amended regulations to allay creditor concern on valuation of bids for insolvent companies. The Insolvency and Bankruptcy Board of India (IBBI) has also cleared the confusion over what constitutes a dissenting lender. Amendments to the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations say liquidation value to be paid…
NOT A PENNY Six months on from the landmark ruling no cash has been paid into HMRC’s bank account THE public purse has still not received a penny of the £72 million owed to the taxman by the liquidated company which owned Rangers FC. Six months on from a landmark ruling, payments are being made…
The Insolvency and Bankruptcy Code, 2016 has been in news since its inception due to the innovative and time-bound resolution framework. The Code intends to provide an efficient resolution to the menace of outstanding debts by the corporates and other persons due to the banks and other institutions. The intention is essentially to clean up…
Mediation not only democratises insolvency resolution processes, but creates an inclusive space that benefits all parties What would you do when opponents resolve their differences and settle disputes? You would pat them on their backs and wish them well. The Supreme Court exercised its special powers under Article 142 of the Constitution of India to…
AdvertisementPhoenix Solar Incorporated, a subsidiary of Phoenix Solar AG, filed for Chapter 7 protection with the U.S. Bankruptcy Court in the District of Arizona, case number 17-15240. The Company is located in San Ramon, CA and led by Timothy P. Ryan, President. It is represented in bankruptcy proceedings by Thomas J. Salerno of Stinson Leonard…
Family owned and operated local business Peters Coaches went into liquidation owing more than $3.7 million to creditors the Australian Securities and Investments Commission has reported. The business closed up shop on December 11th, 2017. It was then placed into liquidation at the direction of shareholders. It is believed that the business began to experience financial…