Essar Group CEO Prashant Ruia says there must be a distinction in the bankruptcy code to deal with instances where the promoter has done something wrong and when it is a genuine business decision that has failed. When there is no wrongdoing, We should not talk about punishment, especially at a time when India is…
DetailsThe National Company Law Tribunal (NCLT) has told the employee association of Reid and Taylor and the investor, who is backing them in their takeover bid, they have time till Thursday to furnish documents regarding their net worth to acquire the company. ALSO READ: RP of Reid & Taylor moves NCLT,…
DetailsISTANBUL Turkeys Football Federation (TFF) chairman Yldrm Demirren has described a plan aimed at restructuring the countrys football clubs debts, estimated to be some 10 billion Turkish Liras, as a milestone. The deal the TFF has struck with the Turkish Banks Association [TBB] will strengthen the clubs financial and administrative structures and represents a strong…
DetailsThe Australian Tax Office is lodging further legal action against the directors of debt-ridden Picton Press, taking them back to court, and this time has named the companys administrators in its lawsuit, as it seeks to overturn the Dec 18 court ruling, which dismissed its winding up order. In a separate development long-time well respected…
DetailsFILE – In this June, 15, 2015, file photo, Michael McStay, brother of the victims, and Susan Blake, their mother, arrive at court for the preliminary hearing for accused killer Chase Merritt in San Bernardino, Calif. Opening statements are expected Monday, Jan. 7, 2018, in the trial of Merritt for the murders of…
DetailsHello, Dear Reader Welcome to the L.A. Daily News 2019 Crystal Ball . True, theres no ball here (and absolutely no crystal); just words on a page. But work with us here. Were coming from a good place 2018 where some shoe-leather reporting and getting to know the Valley has given us a decent idea…
DetailsJust when you thought Sears Holdings Corp. was on its way out, the bankrupt department store retailer could be saved once again by a $120 million infusion from its Chairman Eddie Lampert. Sears shares jumped 33% in afternoon trading Tuesday, after the potential Lampert rescue was revealed, reversing a loss of as much as 50%…
DetailsShare this: Many households will have started the new year with a nasty financial hangover thanks to the holiday spending season. That follows a record-breakingDecember where Australians racked upa record $30 billion in credit card debt alone. If youre one of these people, what should you do to avoid carrying and accumulating even more of…
DetailsPia Bang Stokes High profile or not, personal insolvency works for debtors Independent.ie When the High Court approved a 12m write-off of debt owed by Pia Bang Stokes and her husband, Jeffrey Stokes – formerly of Unicorn Restaurant fame – it sparked fears that our new personal insolvency regime was failing ordinary debtors while working…
DetailsThe Supreme Court on Tuesday asked the Centre to detail the composition of the Insolvency Law Committee set up to identify and suggest ways to address issues faced in the implementation of the Insolvency and Bankruptcy Code (IBC). It also asked the government to tell which cases were under active consideration of…
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