Difficulties for Videocon Industries promoter Venugopal Dhoot is increasing as the National Company Law Tribunal (NCLT) Mumbai has now approved the request of State Bank of India (SBI) for personal insolvency case against Dhoot. As per the information Dhoot had given personal guarantee to SBI for a loan of Rs 6157. Speaking on the matter…
DetailsWhen a public utility declares bankruptcy, tensions can arise between the functions of state regulators, who oversee utilities, and bankruptcy courts, which seek to offer debt relief. Researchers expect that the strain on utilities will increase as climate change makes weather worse, possibly upping the number of bankruptcies those companies file. Recent years have seen…
DetailsProblem gambling is an issue that affects people all over the world, with an increase in leisure time during the Covid-19 pandemic thought to contribute to a rise in cases but Spain is a country that has it under control. At least thats the view of Mikal Arana, director general of the countrys gambling regulator,…
DetailsBELGRADE (Serbia), September 2 (SeeNews) – German company DL-Holding plans to launch a project for the construction of a business park in Belgrade, the Serbian Chamber of Commerce said. DL-Holding will assume the ownership of the factory of insolvent brewer Beogradska Industrija Piva (BIP) in Belgrade after signing an agreement to acquire the company in…
DetailsIBBs Commercial Services Group is pleased to announce the appointment of Sonia Jordan who joins as a Partner in the Corporate Restructuring and Insolvency team from 01 September 2021. Sonia is an experienced and well-respected Restructuring and Insolvency Partner with a transactional and contentious practice who has led on some high-profile administrations during 25 years…
DetailsIn the five years since Indias bankruptcy code came into force, almost every third company admitted for resolution has faced liquidation. The number of companies liquidated is more than three times the number where a resolution plan was worked out. A higher level of liquidation is possible because most distressed companies admitted for resolution had…
DetailsPETALING JAYA: The Covid-19 pandemic has caused large-scale business losses and closures, leading to many entrepreneurs losing the shirt off their back. In just the first four months of this year, a total of 2,954 debtors have already been declared bankrupt. The number would have been higher if not for the many financial packages introduced…
DetailsCreditors of NMC Health, the former FTSE 100 private healthcare group embroiled in a massive fraud scandal, have approved a restructuring that will allow 34 group companies to exit administration in Abu Dhabi and to continue to operate the core business. In a vote in the United Arab Emirates yesterday, creditors gave overwhelming support for…
DetailsBOYDTON, Va. (AP) There was a time when Black farms prospered. Just two generations out of slavery, by 1910 Black farmers had amassed more than 16 million acres of land and made up about 14 percent of farmers. The fruit of their labors fed much of America. Now, they have fewer than 4.7 million acres.…
DetailsHenry Paulson, former US treasury secretary and Goldman Sachs chairman, is believed to have once said that regulation always lags innovation. It is also true, conversely, that good regulatory frameworks always anticipate changes, or require minimal tweaking as changes occur. Indias bankruptcy regulator, the Insolvency and Bankruptcy Board of India (IBBI), has been forced to…
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