By Davide Barbuscia and Tom Arnold DUBAI (Reuters) A detained Saudi billionaire who led the collapsed Saad Group is seeking to repay part of a multi-billion dollar debt to creditors under a deal that could allow his release, people familiar with the matter told Reuters. The businessman, Maan al-Sanea, was detained in October in the…
The government will come up with a new framework for valuation professionals by the end of the current fiscal, he said. (PTI) Amid differences between lenders and bidders on the proper valuation of a stressed company, the government is considering a proposal to ask insolvency resolution professionals to get the enterprise valuation of the firm…
NEW DELHI: The regulations for grievance handling procedure under the Insolvency and Bankruptcy Code have been notified, wherein the filing fee will be refunded to the stakeholder in case the complaint is found to be not “frivolous or malicious”. The Insolvency and Bankruptcy Board of India (IBBI), which is implementing the Code, has notified the…
A-League came to Coffs COFFS Coast sport fans played ball for the Newcastle Jets v Melbourne City football double header at C.ex Coffs International Stadium as one of the biggest crowds made their way through the gates. Before the AFL season kicked off, last year’s minor premiers Sydney Swans locked horns with the North Melbourne…
A-League came to Coffs COFFS Coast sport fans played ball for the Newcastle Jets v Melbourne City football double header at C.ex Coffs International Stadium as one of the biggest crowds made their way through the gates. Before the AFL season kicked off, last year’s minor premiers Sydney Swans locked horns with the North Melbourne…
A Tauranga builder who went into liquidation leaving behind 30 unfinished houses owes at least $4.35 million. This has been revealed in liquidator Tom Rodewald’s first report into the financial affairs of Bella Vista Homes Ltd. Rodewald’s report on the Pyes Pa-based company was as at November 1 – the date Bella Vista went into…
A Tauranga builder who went into liquidation leaving behind 30 unfinished houses owes at least $4.35 million. This has been revealed in liquidator Tom Rodewald’s first report into the financial affairs of Bella Vista Homes Ltd. Rodewald’s report on the Pyes Pa-based company was as at November 1 – the date Bella Vista went into…
HYDERABAD: In an order involving insolvency process of Kamineni Steel, NCLT exercised discretionary powers in determining voting share of lenders for approving resolution plan, while indicting three dissenting banks for their ambiguous stand. The NCLT bench at Hyderabad has passed strictures on officials of PSBs while approving the resolution plan involving one time settlement submitted…
RG Shaw & Sons Pvt Ltd, a 79-year old seller of liquor, spirits and wine in Kolkata, is heading for liquidation as the promoters did not submit resolution plans while it defaulted working capital loans from State Bank of India and other unsecured financial creditors, two people familiar with the development said. The company defaulted…
LUXURY handbag maker Oroton has collapsed, becoming the nation’s latest retail victim. The listed luxury retailer, whose most recent public face has been Aussie actor Rose Byrne, announced this morning is was placing itself in voluntary administration. Since the announcement was made, people have been hitting the label’s outlet website to snap up heavily discounted…