India’s largest gas firm GAIL has infused Rs 2,100 crore in insolvent private-sector chemical company JBF Petrochemicals Ltd that it had acquired in bankruptcy proceedings. The firm had in March won bankruptcy court approval for taking over JBF. In a stock exchange filing, GAIL (India) Ltd said it has “infused Rs 2,101 crore (equity –…
DetailsTarun KohliPublish Date: 02 Jun, 2023 The central government is getting ready to provide significant compensation to homebuyers who did not receive their properties’ ownership rights soon. In reality, the government is considering introducing a plan that would allow for the registration of completed residential complexes’ units whose builders have declared bankruptcy. The idea, as…
DetailsPuan Chan Cheong led Green Packet Bhd to its Main Market listing in 2005, and by 2007 it had attained a market capitalisation of US$1 billion, granting it the coveted unicorn status. (Facebook pic) PETALING JAYA: Puan Chan Cheong founder of Green Packet Bhd, Malaysias first unicorn has been declared a bankrupt by the Kuala…
DetailsA new gambling harms survey has shown that the number of Norwegians which suffer from problem gambling has more than halved since the last survey was conducted in 2019. Complied by Spillforsk at the University of Bergen, the new research shows approximately 23,000 consumers suffer from problem gambling in Norway and 93,000 are at risk…
DetailsCompany to Obtain US$200 Million in New Financing to Support Ordinary Course Business Operations Globally All GenesisCare Businesses Show Strong Momentum and Growth Potential Company to Pursue Separation of U.S. Business While U.S. Management Implements Turnaround Strategy SYDNEY, June 1, 2023 /PRNewswire/ — GenesisCare (or the “Company”), a leading integrated cancer care provider in the…
DetailsCompanies that provide guidance for those with money problems are to be banned from receiving referral fees from debt solution providers. The Financial Conduct Authority (FCA) said the new rules for debt packagers, which are regulated providers of advice, would save consumers money in “unnecessary fees” and improve guidance for those struggling. There have been…
DetailsFuture Lifestyle Fashions Ltd has received a total claim of Rs 2,155.53 crore from 12 financial creditors in the corporate insolvency resolution process (CIRP) initiated against this Future group company recently. The resolution professional of the company has provisionally admitted claims of Rs 2,117.03 crore and claims worth Rs 38.5 crore are “under verification”, said…
DetailsShardul Amarchand Mangaldas advised the committee of creditors, including Axis Bank, State Bank of India and others, in the corporate insolvency resolution process of Educomp Infrastructure and School Management. JC Flowers Asset Reconstruction, Punjab National Bank, Karnataka Bank, Union Bank of India and Bank of India also also among the committee of creditors. Partner Jatin…
DetailsFuture Lifestyle Fashions Ltd has received a total claim of Rs 2,155.53 crore from 12 financial creditors in the corporate insolvency resolution process (CIRP) initiated against this Future group company recently. The resolution professional of the company has provisionally admitted claims of Rs 2,117.03 crore and claims worth Rs 38.5 crore are “under verification”, said…
DetailsSTRUGGLING Brits in debt could save thousands of pounds in fees under new rules. The Financial Conduct Authority (FCA) is banning debt packager firms from receiving referral fees from debt solution providers. Struggling Brits could save thousands of pounds thanks to a ban on debt packager referral feesCredit: Getty The move is expected to save struggling…
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