Real estate developers on Tuesday demanded protection from insolvency proceedings for at least a year as the sector had been severely hit financially due to the pandemic. They also wrote to the Centre and the Uttar Pradesh Real Estate Regulatory Authority (UP-Rera) seeking more time to repay loans. Section 7 of Indian Bankruptcy Code (IBC)…
DetailsEquity Trustees now manages $30 billion of superannuation money up from $12 billion last year. The walls of the Melbourne headquarters of Equity Trustees (ASX: EQT) are adorned with the portraits of former prime ministers, premiers and governor generals who have served on the board of the stately 133-year-old institution. The roll call of dignitaries…
DetailsAn ex-Bay Shore man who served prison time for murder in a 2004 slaying linked to the collection of a gambling debt pleaded guilty to manslaughter Tuesday after a federal appellate court threw out his original conviction. Family members of victim Bobby Calabrese were in Nassau County Court as Mark Orlando, 50, admitted during a…
DetailsWhile dealing with financial difficulties is never easy, early identification of a companys financial situation is often the key to successfully implementing measures that will allow it to maximize its options, said Jean Fontaine, Montreal-based partner and member of the firms restructuring and insolvency group, in the news release. Canadian businesses who are anticipating economic…
DetailsSignage is seen at the United States Bankruptcy Court for the Southern District of New York in Manhattan, New York City, U.S., August 24, 2020. REUTERS/Andrew Kelly Fashion brand owner, The Collected Group LLC, has secured court approval of its prepackaged reorganization plan that will put lenders in control of the company. Collected, represented by…
DetailsUp to 170 jobs are at risk at the debt advice charity StepChangebecause of reduced demand for its services. The charity has slightly more than 1,500 staff, according to its latest accounts, in offices around the UK. Unite the union said in a statement that the StepChange offices in Leeds and Newcastle upon Tyne would…
DetailsVirgin Australia is driving analytics into every corner of its revived business, creating a playbook for every business unit that can be used to drive growth and profitability as the airline sector recovers. Head of the analytics centre of excellence (COE) Paul Tran told the SAS Global Forum that the airline has elevated analytics to…
DetailsSharing is caring! According to a report from Barrett Sports Media, ESPN college basketball analyst Dan Dakich has become a DoorDash delivery driver to pay off his gambling debts. Dakich racked up a bunch of debt by recklessly betting on college basketball games during the 2021 NCAA Mens Basketball Tournament. By being careless with his…
DetailsForeign investors in Chinese groups that have gone bankrupt could be given powers to liquidate assets on the mainland in a deal with Hong Kong that aims to boost business confidence in the countrys legal system. The mechanism will obligate courts in Shanghai, Shenzhen and Xiamen to recognise insolvency orders filed by company creditors in…
DetailsThe Volkswagen Group has fielded an offer for its supercar brand, Lamborghini, from a Swiss-based … [+] consortium. Photo by Chaiwat Subprasom/SOPA Images/LightRocket via Getty Images SOPA Images/LightRocket via Getty Images A consortium connected to the family of the late Volkswagen Group strongman Ferdinand Piech has made a stunning 7.5 billion unsolicited bid to buy…
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