The Supreme Court on Friday upheld the constitutional validity of the Insolvency and Bankruptcy Code (IBC) in its entirety.The ruling by a bench headed by justice Rohinton F. Nariman is a setback to operational creditors,such as suppliers and contractors, who wanted to be treated on a par with secured creditors, who have the first claim…
DetailsWith State Bank of India (SBI) putting its entire loan exposure in Essar Steel the company involved in one of the largest insolvency cases on the block, one message thats come through loud and clear is of a loss of confidence in the Insolvency and Bankruptcy Code (IBC). The move was just the cue…
DetailsAn amendment in the Insolvency and Bankruptcy Code (IBC) last year to insert Section 12A which allowed withdrawal of cases admitted to the National Company Law Tribunal (NCLT) has slowly begun to make an impact. At the end of December 2018, two years after the IBC came into effect, 586 cases have been…
DetailsKansas City advertising icon Bob Bernstein now has the inside track to buy several Beauty Brands stores out of the companys bankruptcy estate, court filings show. If successful, Bernstein will be back in control of the salon and spa retailer that he founded in 1995. … Read the full article at: https://www.kansascity.com/news/business/article224949830.html
DetailsThis press release was orginally distributed by SBWire Dallas, TX — (SBWIRE) — 01/26/2019 — Global Debt Consolidation Market 2018-2023:The growing demand for Global Debt Consolidation Market has provided a major boost to the Global Debt Consolidation Market as more people are shifting their preferences to this growing sector. The market is expected to keep…
DetailsColin Coyle Allen working at home during her time as a crime reporterLEON FARRELL/PHOTOCALL IRELAND Liz Allen, a novelist and former journalist, has been declared bankrupt with debts of 3.7m after the High Court accepted she had no realistic prospect of repaying creditors. Allen, who became the Sunday Independent crime correspondent following the murder of…
DetailsCopyright 2019 Albuquerque Journal Former New Mexico Gov. Susana Martinez (Journal file) One of Susana Martinezs former bodyguards has filed a lawsuit against the Department of Public Safety that at times reads more like a soap opera script when describing the inner workings of the former governors security force. Tony Fetty, who said he spent…
DetailsPerth families are losing their homes and being chased by debt collectors as councils move to recover more than $73 million in unpaid rates across the city. The value of outstanding rates ballooned 20 per cent last year, piling more pressure on households already struggling to service mortgages on homes in many cases now worth…
DetailsThe incident took place in Ashulia, Dhaka on Friday A day labourer has been stabbed to death over a gambling debt of Tk100 in Ashulia, Dhaka. The incident took place in Ashulias Palashbari area on Friday evening. The deceased was identified as Johirul Islam, 28. The suspect has been identified as Rezaul, 18. Speaking to…
DetailsBoutique investment bank PJ Solomon is starting to push the boundaries of the word boutique, at least in terms of its size. The private U.S. advisory firm has been rapidly adding headcount after entering an agreement with Natixis in 2016 that made the French investment bank a majority owner. Nearly three years after inking the…
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