Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we wish to inform you that the Court 2 of the Chennai Bench of the National Company Law Tribunal (NCLT) has, Vide its order dated June 07,2019 admitted the Petition/Application No.1BA 243/2019 filed by State Bank of India under Section 7 read…
DetailsMarina Bay Sands (MBS) has dropped a lawsuit worth more than SG$13 million against Australian high roller Wang Zhi Cai, ending a case that stretches back to 2013. According to The Straits Times, MBS lawyers filed a notice of discontinuance with the High Court last week, with the matter said to have been resolved amicably.…
DetailsRetrenchments rose in the first quarter of this year compared to the previous quarter, due to business restructuring and reorganization, said Singapores Ministry of Manpower (MOM) on Thursday. Among the sectors, retrenchments were driven by the manufacturing industry, the ministry said. A total of 3,230 workers were laid off in the first three months of…
DetailsItalian industrial group Maccaferri, the parent company of the insolvent EPC contractor, has also filed for insolvency for another three units of its energy business. June 13, 2019Emiliano Bellini A PV plant built by Enerray in Turkey, where the company has suffered from its geothermal investments. Image: Enerray Italian conglomerate Gruppo Maccaferri has begun insolvency…
DetailsVideo PlayerClose WELLINGTON, June 13 (Xinhua) — A new legislation requires liquidators in New Zealand to be licensed and meet basic standards of honesty and competence, aiming to protect creditors and the public, Commerce and Consumer Affairs Minister Kris Faafoi said on Thursday. The Third Reading of the Insolvency Practitioners Regulation Bill and the Insolvency…
DetailsA total of 347 people agreed deals with their lenders in the first three months of this year in situations where they are unable to pay the full amount. This was up 16pc on the number of arrangements put in place in the first quarter of last year, figures from the Insolvency Service of Ireland…
DetailsMuch accused director Bryan Singer is settling a nearly two-year old rape case from a then minor with a hefty payout but strict insistence on his innocence. In a deal struck in recent days, the multiple X-Men flick helmer will hand over $150,000 to Cesar Sanchez-Guzmans bankruptcy trustee to see the sexual abuse claim disappear.…
DetailsGermany-based GSA Leisure Cargo has filed for bankruptcy following the loss of a major contract. The company at one time counted 14 leisure airlines amongst its customer base, but last year lost a major contract with TUI to the ESC Group. Tillmann Peeters of restructuring firm Falkensteg Restrukturierung said that the company has applied to…
DetailsCAM GETS IBC PARTNER Cyril Amarchand Mangaldas has hired Richa Roy as a partner in its insolvency and bankruptcy and policy practice in Mumbai. Roy recently worked as a graduate research fellow at the University of Oxford in the UK on a range of public policy projects in trade policy and banking regulation. Roy was…
DetailsLegislation passed last night means liquidators will need to be licenced and meet basic standards of honesty and competence moves enacted to protect creditors and the public, Commerce and Consumer Affairs Minister Kris Faafoi says. The Third Reading of the Insolvency Practitioners Regulation Bill and the Insolvency Practitioners Regulation (Amendments) Bill address some failings of…
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