WILMINGTON, Del. (AP) Pierre S. Pete du Pont IV, a former Delaware governor and congressman who sought the Republican presidential nomination in 1988, has died. He was 86. Du Pont, a scion of the family that established the DuPont Co., died at his home in Wilmington, Delaware, on Saturday after a long illness, his former…
DetailsAmerican statesman John Adams, who served as U.S. president from 1797 to 1801, famously said, There are two ways to conquer and enslave a country: One is by the sword; the other is by debt. China, choosing the second path, has embraced colonial-era practices and rapidly emerged as the worlds biggest official creditor. With its…
DetailsThe number of people going financially insolvent after being unable to pay their debts across England and Wales fell by 5% in the first three months of this year. ome 29,140 personal insolvencies were recorded between January and March, the Insolvency Service said. It said the number of insolvencies was 5% lower than in the…
DetailsThe National Company Law Tribunal (NCLT) has initiated insolvency proceedings against construction firm Ahluwalia Contracts India Ltd for defaulting on payments to an operational creditor. The New Delhi-based NCLT bench allowed the insolvency plea filed by A2 Interiors Products Pvt Ltd against Ahluwalia Contracts, claiming default of Rs 14.10 crore, and appointed an interim resolution…
DetailsISLAMABAD: Secretary Cabinet, Sardar Ahmad Nawaz Sukhera has reportedly blocked PIA’s restructuring plan prepared by the Prime Ministers Advisor on Institutional Reforms and Austerity (IR&A), Dr Ishrat Hussain, arguing that it would not be in accordance with Rules of Business, 1973 to take any decision, especially when it entails large sums of public money on…
DetailsAdvanced Building & Construction Limited (which trades as AdBuild) had about 30 projects on the go, though it was not being used to supply prefabs to leak-hit Hutt Valley High School. Hutt High is instead expecting to get a total of 16 new prefabs from Portacom, the first four in August, then the others through…
DetailsIntroduction Filing for insolvency is not optional Debt restructuring followed by liquidation as an alternative Points of attention and key differences between insolvencies and liquidations Comment Introduction On 16 January 2021 the Supreme Court reconfirmed that a liquidated company is deemed to survive passively for five years further to the publication of the closure of…
DetailsHyderabad: The National Company Law Tribunal (NCLT) at Hyderabad has ordered liquidation of Meena Jewellers Diamond Pvt Ltd (MJDPL), Meena Jewellers Pvt Ltd (MJPL) and Meena Jewellers Exclusive Pvt Ltd (MJEPL) for their failure to repay Rs 254 crore loan availed from SBI.Though the two-member NCLT bench, comprising BP Mohan, member (judicial), and A Veera…
DetailsA sports fan who lost 40,000 in a month – including 20,000 in just one night – has spoken about his online gambling addiction which left him heavily in debt. Craig Walding said before the Covid pandemic he saw nothing wrong with placing an occasional bet when watching the football at the weekend. But just…
Detailsaround 700,000 people struggling with problem debt to benefit from Breathing Space this year scheme will give those facing financial difficulties 60 days to get finances back on track without debts piling up, worrying letters or enforcement action people will also have access to professional debt advice, with stronger protections for people in mental health…
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