MUMBAI: The National Company Law Tribunal has sought Gujarat NRE Coke’s employee details as it is expected to deliver Tuesday its final order on the company’s liquidation, with no concrete plans of revival in the Rs 4,900-crore default case being reached before the clock ran out. The resolution professional, Sumit Binani, has submitted his report…
DetailsREUTERS/Mike Segar GoPro on Monday announced a big restructuring plan that’s part of its effort to become profitable this year. The action-camera maker said it will lay off more than 250 workers worldwide, exit the drone business, and reduce CEO Nicholas Woodman’s 2018 cash pay to $1. The company also lowered its fourth-quarter revenue forecast. …
DetailsPan Kwan Yuk January 8, 2018 GoPro unveiled a major restructuring of its business on Monday after the embattled action camera maker unexpectedly issued a big sales warning for the all-important holiday quarter. The company, which has been struggling with weak sales of its latest wearable camera, said it was cutting more than 254 jobs…
DetailsThe Reserve Bank of India on Monday approached the Supreme Court seeking permission to initiate insolvency proceedings against Jaiprakash Associates (JAL), the parent company of Jaypee Infratech (JIL). The move had more than 25,000 homebuyers of Jaypee Infratech in Noida and Greater Noida worried that if insolvency proceedings against JAL are allowed, who will deposit…
DetailsBy January 8, 2018, 9:13 AM EST Updated on January 8, 2018, 10:40 AM EST GoPro Inc. said its cutting more than 20 percent of its global workforce and putting an end to its drone business after a disappointing fourth quarter. The company said it now expects sales of about $340 million, well short of its…
DetailsKardan NV (TASE: KRNV;AEX:KARD) is close to an agreement for the sale of its 98.4% holding in water infrastructures company Tahal Group to the Fortissimo Capital fund for $120-130 million (NIS 412-446 million). According to market sources, the deal can be expected to be signed within the next few days, subject to agreement on the…
DetailsVideo PlayerClose GUANGZHOU, Jan. 8 (Xinhua) — Ninety-four “zombie companies” in Guangzhou, capital of south China’s Guangdong Province, were declared bankrupt, the city’s Intermediate People’s Court said Monday. Most of them, including 74 state-owned enterprises, were established in the 1980s and 1990s. These enterprises, making great losses for years, have ceased or suspended production, and…
DetailsExplosive new documentary reveals the lavish lifestyle of bankrupt businessmen Barry Hughes declared bankruptcy owing £10m but owns luxury fleet of cars BBC filmed Graham Gillespie, who has £12m debts, driving a brand new Bentley By Amie Gordon For Mailonline Published: 23:43 AEDT, 8 January 2018 | Updated: 23:48 AEDT, 8 January 2018 e-mail 2…
DetailsDubai-based contracting giant Drake & Scull International (DSI) has announced that it has successfully completed the restructuring of its corporate general bank debt in the UAE. The company said in a statement that it has also secured new credit lines and working capital facilities for its ongoing and new projects portfolio. DSI said it has…
DetailsPUBLISHED: 11:36 08 January 2018 | UPDATED: 11:36 08 January 2018 Nina Morgan Welwyn Hatfield CAB chief executive Debbie Rixon. Picture: Kevin Lines Archant The last day of January is expected to be the busiest of the year for people seeking help with their debts, according to Citizens Advice Welwyn Hatfield. Analysis of national data…
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