The Supreme Court on Tuesday upheld amendments in the Insolvency and Bankruptcy Code which prescribe that at least 100 allottees from the same real estate project should support the initiation of corporate insolvency resolution process in the National Company Law Tribunal (NCLT) against their property developer. The Insolvency and Bankruptcy Code (Amendment) Act of 2020…
DetailseCommodities Plc has been placed into provisional liquidation following an investigation by the Insolvency Service. The Official Receiver has been appointed as the provisional liquidator after a hearing at the High Court in London on 10 December 2020. This followed an application by the Insolvency Service on behalf of the Secretary of State for Business,…
DetailsNeighbours spoilers follow for UK viewers. Neighbours star Benny Turland has revealed how Hendrix Greyson fears for his life in the show’s gambling debt storyline. Next week’s episodes on Channel 5 see Hendrix panic as dangerous Kane Jones (Barry Conrad) sends him a death threat. In upcoming scenes, Hendrix ends up owing $10,000 to Kane…
DetailsNobody immediately turns to their finances when bucket list dreams are on the agenda. Its usually all scaling mountains and visiting unexplored corners of the globe in between finding true love and scarfing down fine dining feasts. But the year 2020 left a lot of people cancelling holiday plans and dinners out on the town…
DetailsScottish accountancy practice Wylie & Bisset has promoted two long-standing members of its business recovery and insolvency department. The promotions see insolvency managers Paul McDougall – with almost 15 years service with the firm – move to associate director, and Chris Wardle – with more than 19 years service – to senior manager with, effect…
DetailseCommodities Plc has been placed into provisional liquidation following an investigation by the Insolvency Service. The Official Receiver has been appointed as the provisional liquidator after a hearing at the High Court in London on 10 December 2020. This followed an application by the Insolvency Service on behalf of the Secretary of State for Business,…
DetailsKUALA LUMPUR (Jan 19): Former Port Klang Authority general manager (GM) Datin Paduka OC Phang, who was ordered to pay RM2.6 billion in damages by the Shah Alam High Court to the authority, has been declared a bankrupt. The petition notice declaring her a bankrupt was made following a Kuala Lumpur High Court order dated…
DetailsThe Mumbai Bench of the National Company Law Tribunal (NCLT) has agreed to hear State Bank of Indias (SBIs) plea to initiate personal insolvency against Rajkumar Dhoot and Pradeep Kumar Dhoot, two relatives of Venugopal Dhoot, the founder and former chairman and managing director of Videocon Industries Limited (VIL). The bank is seeking recovery of…
DetailsClarks could soon be owned by ex-Olympic gymnast Li Ningsinvestment arm Viva China, which aims to buy up 51 per cent of the British footwear retailer for a consideration worth US$69 million (51 million). Viva said it had earlier helped facilitate the acquisition of the business out of voluntary administration by funding a loan to…
DetailsPort Klang Authoritys (PKA) bid to claim part of its losses amounting to more than RM2 billion related to the Port Klang Free Zone (PKFZ) debacle have all but disappeared. Despite the Shah Alam High Court ruling in September 2018 that its former general manager was liable for the losses, she has been declared a…
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