Supreme will hear the case on April 13. Kolkata: Binani Industries, the parent company of insolvent Binani Cement, on Monday informed the National Company Law Tribunal’s Kolkata bench that it has moved the Supreme Court for termination of insolvency proceedings against its cement manufacturing subsidiary. The company said it had filed the application in the…
DetailsA team from Clifford Chance has advised global asset manager The Carlyle Group on its acquisition of Australias largest wine company. The transaction, valued at AU$1 billion for 100% of The Accolades Wine Group from CHAMP Private Equity and minority shareholder Constellation Brands, was led by Clifford Chance partner Andrew Cook in Sydney. “This deal…
DetailsIndias third largest software services firm Wipro Ltd. today said its profitability may be impacted by 65-75 basis points in the March quarter as one of its telecom clients is undergoing insolvency proceedings. Without naming the client, Wipro said it had signed a multi-year outsourcing services agreement with a telecom services provider in India in…
DetailsNic Fildes, Telecoms Correspondent April 9, 2018 Print this page Avanti Communications, the UK satellite company, has warned that it will be put into administration unless shareholders accept a debt-for-equity swap that would allow it to raise fresh funding. If approved, the proposed swap would leave US bondholders, led by Solus Funds, controlling 42 per…
DetailsKOLKATA: Any move to liquidate Facor, one of Indias oldest producers of ferro alloys undergoing insolvency resolution, can be implemented only after the National Company Law Appellate Tribunal (NCLAT) rules on Facors appeal against an NCLT Kolkata order for initiation of bankruptcy resolution process. Facors committee of creditors (CoC) rejected all resolution plans and conveyed…
DetailsFirm Appointee/Solicitor Role Company Name Published Date Auxilium Partners Robert Allan Jacobs liquidator Allmodern Corporation Pty Ltd 6/04/2018 Cor Cordis Jeremy Joseph Nipps administrator Hatch Trans Pty Ltd 6/04/2018 Hall Chadwick Brent Trevor-Alex Kijurina liquidator Million Dollar Makeovers Pty Ltd 6/04/2018 Worrells Solvency & Forensic Accountants Mervyn Jonathan Kitay liquidator Zafiro Pty Ltd 5/04/2018 PPB…
DetailsFormer refugee Dai Le recounts a Vietnamese saying that was drilled into her as a child: If you hang around ink you become black, if you hang around light you become bright. She first heard the proverb – about the importance of surrounding yourself with good influences – while growing up in a refugee camp…
DetailsWhen Braj Binani took control of his family business nearly 20 years ago, it had spent well over a century in the Indian metals industry growing from a small trading house into a well-known zinc producer. But Mr Binani, not yet 40, had bigger plans founded on the groups new cement unit. With Indias economic…
DetailsApril 9 (Reuters) – Satellite operator Avanti Communications said on Monday it would likely have to be placed in some form of insolvency proceeding if it cannot complete its debt restructuring or is unable to raise at least $50 million. The company, which is swapping its debt for equity, said if the restructuring is not…
DetailsFormer refugee Dai Le recounts a Vietnamese saying that was drilled into her as a child: If you hang around ink you become black, if you hang around light you become bright. She first heard the proverb – about the importance of surrounding yourself with good influences – while growing up in a refugee camp…
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