Adhunik Metaliks, the Calcutta-based beleaguered steel maker, may face liquidation after Liberty House of the UK failed to make an upfront payment to the creditors within the stipulated time. The National Company Law Tribunal (NCLT) suggested that the committee of creditors (CoC) may consider moving an application seeking the liquidation of Adhunik. Liberty has sought…
DetailsCBL Insurance will be wound up after the High Court in Auckland approved an application by the Reserve Bank of New Zealand to liquidate the business. The business has been in court-imposed interim liquidation and its parent company CBL Corporation in voluntary administration since February. The courts decision looks set to hasten the demise of…
DetailsBRAMPTON, Ontario–(BUSINESS WIRE)–DATA Communications Management Corp.: HIGHLIGHTS THIRD QUARTER 2018 Revenues increased 6.7% year over year to $74.9 million compared with $70.2 million in the prior year, enhanced by a 4.1% increase in our core DCM business Adjusted EBITDA of $5.2million, compared to $3.3 million in the prior year (See Table 2 and Non-IFRS Measures…
DetailsNearly a third of workers say theyre distracted on the job by financial headachesand, for 44 million Americans, one burden is near the top of the debt heap. Consumers are facing over 1.5 trillion dollars in student loan debt. Thats a trillion with a T. Now, more employers are realizing they need to jump in…
DetailsThe numberof African countries whose public debt is above 50 per cent of Gross Domestic Product (GDP) has increased from 10 in 2013 to 22 in 2016 According to the International Monetary Fund (IMF), debt levels for some African countries are unsustainable, meaning that the scheduled debt service exceeds the capacity of the member to…
DetailsBanks have lost an additional income of 4,000 crore due to the delay in resolution of the initial 12 large insolvency cases referred by the RBI last June. Of the 12 large insolvency cases, only four have been resolved so far. The other cases remain unresolved even after over 450 days of their being admitted…
DetailsMcClatchy announced last week an initiative that aims to help erase the medical debt of veterans, servicemembers and their families in partnership with the nonprofit RIP Medical Debt. To kick off the campaign, the McClatchy Foundation has approved a donation that will enable RIP Medical Debt to abolish $1 million in medical debt for military…
Detailstoday 15:00 CBS / Nikki van Toorn The number of corporate bankruptcies has increased, according to Statistics Netherlands (CBS). There were 40 more bankruptcies in October 2018 than in the previous month. In September, the number of bankruptcies reached the lowest level since 2001. However, the trend has been fairly flat for…
DetailsPUBLISHED: 09:30 12 November 2018 | UPDATED: 12:54 12 November 2018 Jessica Hill Sam Shutlar (Samuel David Construction) Archant Samuel Shutlar, the director of the building firm Samuel David Construction, which went under … Read the full article at: https://www.ipswichstar.co.uk/news/business/sam-shutlar-director-of-sdc-in-suffolk-is-bankrupt-1-5774741
DetailsEverstone Group CEO Sameer Sain. A study has shown that Everstone Capital had become top heavy and there were too few junior people to do the leg work. Photo: Abhijit Bhatlekar/Mint Mumbai: Everstone Capital has hired UK-based Kiddy and Partners to assist with the restructuring of its private equity business and the organizations review system,…
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