IBC: Why Resolution Plans Are Unsuited To An Auction According To India’s Insolvency Regulator IBBI’s Sahoo – BloombergQuint

But MS Sahoo, the chairman of regulatory body, the Insolvency and Bankruptcy Board of India, doesnt quite agree. He made two distinctions. That these are not bids they are plans. And plans are not suited to an auction process. The resolution plan is expected to address the root cause of the failure of the firm,…

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Why IBC panel’s new recommendations may defeat the very purpose of the law – Economic Times

Constituting a 14-member panel to suggest changes to a law little more than a year after its promulgation reflected the governments keenness to correct mistakes in the original legislation, while also shining the spotlight on an impatient New Delhi that seemed unwilling to give more time. Even as some of the recommendations rush through the…

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70 suppliers and tradies owed $620000 in Million Dollar Makeovers liquidation – The West Australian

More than $600,000 is owed to suppliers and tradies caught up in the liquidation of rich-list renovator Sasha deBrettons Million Dollar Makeovers. Early numbers from liquidators Hall Chadwick filed with the corporate regulator list more than 70 unsecured creditors believed to be owed a total of $619,700. It includes $61,555 owed to the Australian Taxation…

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Capital IP Completes Structured Debt Investment in GuideSpark, Inc. to Help Employee-Communication Leader Scale … – Business Wire (press release)

SAN FRANCISCO–(BUSINESS WIRE)–Capital IP Investment Partners (Capital IP) announced today that it has completed a structured debt investment in GuideSpark, Inc. (GuideSpark), the leader in employee communication. The financing will be used to advance GuideSparks continued growth as the SaaS company scales its market-leading Communicate Cloud software. GuideSpark is headquartered in Redwood City, California. This…

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Stricter regulation needed as personal insolvencies set to rise by 17% in 2018 – Global Banking And Finance Review (press release)

Following the release of the Q1 2018 Insolvency Service insolvency statistics today, Richard Haymes, Head of Financial Difficulties at TDX Group, an Equifax company, calls for stricter rules when promoting insolvency services online:  The figures released by the Insolvency Service today, showing an increase in both company and personal insolvencies, support our expectation that the…

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Adhunik Metaliks seeks 20-day extension to complete insolvency resolution process – Business Line

The Resolution Professional (RP) of Adhunik Metaliks Ltd sought exclusion of 20 days from the mandatory 270-day timeframe required to complete the insolvency resolution process. The 270-day deadline granted to the bankrupt company under the corporate insolvency resolution process (CIRP) expired on April 29. While no resolution plan was approved by the Committee of Creditors…

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