SBI initiates insolvency proceedings against IVRCL – Times of India

TNN | Jan 12, 2018, 01:30 IST Hyderabad: Beleaguered Hyderabad-based infra player IVRCL Ltd on Thursday informed the bourses that its lender State Bank of India had initiated corporate insolvency proceedings against the company under the Insolvency and Bankruptcy Code 2016 (IBC). The company said SBI had initiated Corporate Insolvency Resolution Process (CIRP) against the…

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Bulgaria’s Enemona delisted from Sofia bourse – SeeNews

Financial Supervision Commission/All rights reserved. SOFIA (Bulgaria), January 11 (SeeNews) – Bulgaria’s financial regulator said it has delisted engineering, construction and energy group Enemona [BUL:E4A] from the register of public companies due to a court decision declaring the company insolvent. The regulator has decided to remove the company’s shares [BUL:E4A], preferred shares [BUL:E4AP] and warrants…

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‘Sham contracting’, debt and distress overwhelm telco repair workers – ABC Online

A workforce management company that holds contracts with Telstra, Foxtel and NBN co is being accused of exploiting young trainees overwhelmed by debt and distress. In just seven years, Tandem Corporation has grown to become one of the country’s largest private firms, with an annual turnover of $600 million. If you’ve recently had help…

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Hainan Airlines weighs asset restructuring as parent HNA charts new course – South China Morning Post

Hainan Airlines Holding, the Shanghai-listed unit of debt-ridden HNA Group, said it is making plans that may involve a major asset restructuring, adding uncertainty to the outlook for its parent. Shares of Hainan Airlines were suspended from trading on Wednesday, at the request of the company pending an announcement. The suspension come one day after…

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