Alok Industries announced that the Corporate Insolvency Resolution Process for the Company expired on April 14, 2018 and the Resolution Professional has not received the approval of the Committee of Creditors for Resolution Plans within the time period prescribed under the Insolvency and Bankruptcy Code, 2016. The stock had outperformed the market over the…
DetailsThe bid submitted by Reliance Industries Ltd in conjunction with JM Financial Asset Reconstruction Company Limited (JMFARC) has been rejected by committee of creditors (CoC) of Alok Industries. Earlier both the companies had submitted a resolution plan for Alok Industries Limited. The Insolvency and Bankruptcy Code(IBC) requires CoC approval for a resolution plan. JMFARC is…
DetailsProposed changes to insolvency laws, currently before Parliament, could see the bankruptcy discharge period in Australia reduced from three years to one. Critics, including CPA Australia, say proposed changes to bankruptcy laws will cause more harm than good. Heres what you need to know. By Zilla Efrat The proposals, contained in the Bankruptcy Amendment…
DetailsNORTHBOROUGH, Mass., April 16, 2018 /PRNewswire/ — Bertucci’s, the casual restaurant known for its authentic Italian foods and signature brick oven pizzas, today announced that it filed voluntary petitions for relief under Chapter 11 in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) with Right Lane Dough Acquisitions, LLC serving as…
DetailsBy Kemo Cham Freetown Sierra Leone’s new President Julius Maada Bio has appealed for international help to bail his country out of an economic crisis. He blames the crisis on a huge debt incurred by his predecessor Ernest Bai Koroma and an underperforming economy. President Bio told an International Monetary Fund (IMF) meeting in Freetown…
DetailsDear Amy: Im in a long-term marriage. I have hidden debt (in my name only). The debt is around $45,000. I incurred this debt through light gambling, buying clothes, makeup, travel, hobbies, gifts to adult children and also moving it around to prevent my husband from finding out about it. I completely manage this debt…
DetailsApril 16th, 2018 Jason Jiang Europe, Offshore 0 comments Dutch owner Vroon has reached an in principal agreement with its lenders regarding the terms of its financial restructuring. The company believes the agreement is an important step forward towards the finalisation of its financial restructuring, having been in discussion…
DetailsMUMBAI: The Mumbai chapter of the National Company Law Tribunal (NCLT) last week admitted textiles and apparel company S Kumars Nationwide for insolvency proceedings after the state-owned IDBI Bank filed an application to recover about Rs 1,700 crore in unpaid loans. The company, which owned the premium brand Reid & Taylor in India, has total…
DetailsWest of Sunshine, set in Melbourne’s west, makes its mark at Venice exit Australian writer-director Jason Raftopoulos was overcome by the five-minute standing ovation that greeted his debut film West of Sunshine after its world premiere at the Venice Film Festival. “It was a completely overwhelming experience,” he said. “So much of filmmaking is conducted…
DetailsDear Amy: Im in a long-term marriage. I have hidden debt (in my name only). The debt is around $45,000. I incurred this debt through light gambling, buying clothes, makeup, travel, hobbies, gifts to adult children and also moving it around to prevent my husband from finding out about it. I completely manage this debt…
Details