Mumbai: The Mumbai bench of the National Company Law Tribunal (NCLT) dismissed last week an application seeking closure of Rolta Indias corporate insolvency resolution process (CIRP) under the Insolvency & Bankruptcy Code (IBC).A consortium of lenders to Rolta, represented by advocates Rohit Gupta and Nausher Kohli, had opposed a plea for closure of the process,…
DetailsBy November 1st the UK governments furlough scheme will end, spelling fresh challenges and opportunities for the banking sector, writes Daniel Lanyon. The UK could see a wave of consumers and SMEs entering into financial difficulties in Q4 2020 following the end of the governments furlough scheme. What does it mean for banking investors? While…
DetailsAccording to the statement of claim, when Mr Hasna admitted to his VIP host that he was experiencing financial difficulties after the $100,000 cheque bounced, he was instead encouraged to gamble on credit to Crown. The encouragement came despite Mr Hasna previously banning himself from the casino in 2008 and 2012, and Crown security and…
DetailsLuka Doncicjust signed the most lucrative supermax rookie extension in NBA history. His $207 million, five-year deal with theDallas Maverickseclipses what any other rookie has ever received at the end of their first contract. This is because of the stunning, historic accomplishments Doncic achieved at just 22-years-old. Now that thesilky Sloveniangot paid, though, his former…
DetailsUnited Kingdom racing team McLaren has raised funds and sold its Applied business division as part of a s… United Kingdom racing team McLaren has raised funds and sold its Applied business division as part of a strategic restructuring. Latham & Watkins acted on McLarenscirca GBP 447 million refinancing and GBP 550 million equity investment.…
DetailsThe government on Tuesday said that financial creditors have realised Rs 2.45 lakh crore or 36 per cent of their total claims under the insolvency resolution process till the end of June. As many as 4,540 companies were admitted under the corporate insolvency resolution process as of June 30 this year. The process is initiated…
DetailsForecasts predicting an impending tsunami of corporate insolvencies are alarmist, though the need for ongoing alertness remains, according to UK insolvency specialists. Government support measures have allowed insolvency levels to remain stable amid the pandemic, but recent data shows significant surges as crisis-era support is withdrawn. According to statistics released by the Insolvency Service, June…
Detailsimage sourceGetty Imagesimage captionFlutter’s Paddy Power betting shops were closed during the Covid lockdowns Paddy Power-owner Flutter has said its UK betting shop revenue has jumped higher than pre-Covid levels. Betting shops were closed during lockdowns but since reopening in June, Flutter said UK retail revenue rose 7% ahead of sales before the pandemic. Like…
DetailsThe federal government has sent more than 11,000 people Centrelink debt letters worth a total of $32m claiming they were overpaid due to jobkeeper, while resisting calls to claw back money from businesses who got the wage subsidy and then made a profit. Services Australia has told Senate estimates 11,771 people have had a debt…
DetailsMUMBAI: The National Company Law Tribunal (NCLT) Mumbai on August 6 dismissed an application seeking the closure of Rolta Indias Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code (IBC).A consortium of lenders to Rolta represented by advocates Rohit Gupta and Nausher Kohli had opposed a plea for closure of the process, saying that…
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