Retailers are filing for bankruptcy at record-high rates as Americans changing shopping habits, along with years of overly aggressive store growth, continue to shake up the industry. Just four months into the start of 2018, 11 US retailers have already filed for bankruptcy or announced liquidations. Heres the retail carnage so far this year: Nine…
DetailsNational Company Law Tribunal (NCLT) Chairman Justice M M Kumar today said that Article 14 of the Constitution (right to equality) can be invoked if the committee of creditors violates the Insolvency and Bankruptcy Code law while examining business restructuring plan and proposals. “Article 14 of the Constitution can come in case of COCs (committee…
DetailsGreeces creditors are getting closer on a deal to ease the countrys debt burden, according to Eurogroup President Mario Centeno. Greeces 86-billion euro ($106-billion) bailout program is set to run out in August, and creditors are working on finding a compromise on debt repayments that would help to manage the countrys financing needs after it…
DetailsDisgraced Sydney businessman Salim Mehajer has launched a legal bid to overturn his bankruptcy, stating “only God” has the power to declare him insolvent. A Federal Circuit Court judge declared the property developer bankrupt in March while he was in prison, having been refused bail over claims he staged a car crash and defrauded an…
DetailsDisgraced Sydney businessman Salim Mehajer has launched a legal bid to overturn his bankruptcy, stating “only God” has the power to declare him insolvent. A Federal Circuit Court judge declared the property developer bankrupt in March while he was in prison, having been refused bail over claims he staged a car crash and defrauded an…
DetailsBy Cecily Snowball For Mailonline Published: 10:34 AEST, 21 April 2018 | Updated: 10:41 AEST, 21 April 2018 e-mail 106 View comments Kerry Katona has reportedly arranged to have her ashes scattered in space after she dies. The reality star, 37, has been focusing on her impressive two-stone weight loss, but is now supposedly thinking…
DetailsCalcutta: The corporate insolvency resolution process initiated against bankrupt Binani Cement is set to miss the 270-day deadline stipulated under the Insolvency & Bankruptcy Code, 2016 as challenges thrown at the resolution plan from several quarters, including UltraTech Cement, continue to be heard by the Calcutta bench of the National Company Law Tribunal. Judicial members…
DetailsThis week, Jacqueline McDowall became the human face of the the malpractice of Australias financial services industry, as she tearfully recounted the woeful advice she was given by Westpac that cost her her house, and most of her superannuation. The nurse and her husband hoped to buy and run a bed and breakfast, so she…
DetailsFri, Apr 20, 2018 – 8:59 AM GOLDILOCKS Investment Company on Friday said it is working on an alternative restructuring plan for Noble Group with other investors, and called on shareholders to repopulate the Noble board in support of its initiatives. “Goldilocks and a consortium of like-minded investors are prepared to provide Noble with working…
DetailsNEW YORK (WABC) — From everyday shopping to charging student loans, medical bills and all those unforeseen expenses — credit card debt has ballooned. Most Americans carry at least $5,500 on plastic, and the fees are keeping us in a revolving door of debt. “If you have multiple high-interest credit cards, it’s going to become…
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