By Chris Thomson | posted on January 25, 2018 A RECENT purchase by Albanys Mount Romance sandalwood plant of a $3 million cache of wood has failed to stop the subsidiary that runs it, and parent company Quintis Ltd, going into voluntary administration. On Saturday, Quintis revealed that US hedge fund…
DetailsRJ Frometa 6 hours ago Entertainment 13 Views If you have many unsecured debts to consolidate, there are a lot of debt consolidation loan providers out there with plenty of options on offer. Go to their website or talk to the consultant…
DetailsJapanese imaging and electronics major’s Indian subsidiary Ricoh India has filed for insolvency proceedings as it is unable to meet its liabilities. The company has filed an application under Section 10 of the IBC before the National Company Law Tribunal, it said. “The company has come to a position where it is unable to meet…
DetailsAiling department store chain The Bon-Ton Stores Inc. appears to be headed for a restructuring sooner rather than later. In a filing Monday with the U.S. Securities and Exchange Commission, Bon-Ton said it is engaged in discussions with debtholders regarding potential restructuring alternatives. While the company, co-headquartered in York and Milwaukee, noted there are no…
DetailsPUBLISHED: 12:29 29 January 2018 Ben Jolley Citizens Advice Rural Cambs expects January 31 to be busiest day for debt advice Archant The last day of January is expected to be the busiest day of the year for people seeking help with their debts, according to Citizens Advice Rural Cambs. Analysis of national data from…
DetailsMUMBAI:The government may consider resolving two of the biggest tax roadblocks looming over a successful conclusion of the insolvency process in the upcoming Budget, two people close to the development said. The government may allow carrying forward of losses for eight years for buyers of companies in the insolvency process. This is not allowed under…
DetailsBidders looking to buy select assets of a distressed corporate under the Insolvency and Bankruptcy Code (IBC) process may be in for a disappointment. A recent ruling by the Mumbai Bench of the National Company Law Tribunal (the Adjudicating Authority under the Code) makes it plain that bidders have to acquire all the assets of…
DetailsOf the 525 cases with total underlying default of 1,28,810 crore so far admitted under the Insolvency and Bankruptcy Code (IBC), the steel sector is the single-biggest defaulter in terms of both number of defaulting corporates (45) and total underlying default (57,001 crore). Within the steel sector, corporate insolvency resolution process (CIRP) is on in…
DetailsStuart Layt | AAP Monday, 29 January 2018 10:05AM Convicted conman Peter Foster has been declared bankrupt by the Federal Court (file). Serial conman Peter Foster has been declared bankrupt by the Federal Court after refusing to pay court costs relating to his scam weight loss company. Foster was ordered to pay the Australian Competition…
DetailsLONDON (Reuters) – Sky Bets majority owner CVC has hired investment bank Rothschild to examine a stock market listing of the British firm, seeking to take advantage of booming equity markets and the growing popularity of online gambling. A flotation could value the Leeds-based business, which is led by Chief Executive Richard Flint, at between…
Details