Ivanka Trump appeared on Fox News morning show, Fox & Friends, for the second time this week to promote the GOP tax bill. Trump said that she and Sen. Bob Corker, a longtime deficit hawk, believe the tax cuts, combined with deregulation, will ultimately eliminate the countrys $US20.6 trillion debt. That theory flies in the…
DetailsA bankruptcy case involving JEKPL Pvt Ltd has been resolved, becoming the first to close after the government recently barred promoters from bidding for their companies. Private equity firm Atyant Capital, which had earlier invested in Balaji Telefilms, will buy out the company. The resolution plan is for a full takeover of the existing shareholding…
DetailsSolarWorld Americas Inc., one of two U.S. solar manufacturers asking President Donald Trump for tariffs on imported panels, says the move could revive a struggling industry. It may also boost the companys value ahead of a potential sale. The manufacturer, owned by bankrupt German panel maker SolarWorld AG, has already invited more than a dozen suitors to submit non-binding…
DetailsLONDON, United Kingdom BoF compiles the most important professional moves of the week. Chiara Ferragni takes on president role at TBS CrewBlogger-turned-businesswoman Chiara Ferragni has stepped up to helm her company, TBS Crew, as its new president and chief executive. Ferragni, whose new role is part of a business restructuring, succeeds Riccardo Pozzoli, co-founder and…
DetailsDURBAN – Absa Bank has applied for the liquidation of Mayfair Speculators, a company belonging to former Steinhoff CEO, Markus Jooste. The company, until this week, owned South Africa’s best racehorse and hundreds of other racehorses as well as a property portfolio and a portion of Steinhoff shares. Racing is Jooste’s passion and he was…
DetailsThe Narendra Modi government may include a few more changes in the Insolvency and Bankruptcy Code or IBC ordinance in the finance bill when it is tabled in Parliament during the Budget session, according to a top official quoted in this Economic Times report. The IBC was put into effect in May 2016 and the authorities…
DetailsWASHINGTON (Reuters) – The U.S. Education Department on Wednesday canceled the student-loan debts of 12,900 people defrauded by defunct Corinthian Colleges, but its announcement that it will give varying amounts of debt relief in the future set off fierce criticism. For-profit higher education provider Corinthian collapsed in 2015 amid government investigations into how many of…
DetailsSenior consultant Chris Dunn of Watts McCray, Australias leading family lawyers, has been recently elected the inaugural President of the Greater West Family Law Practitioners Association. The announcement was made by His Honour Justice Foster, one of the Justices of the Family Court based at the Parramatta Registry. The Honourable Eric Baker has also been…
DetailsThe new insolvency ordinance is expected to create substantial problems for SMEs and most may be liquidated if the revival plan does not work out. At the heart of the problem is Section 29A, a new section of the Insolvency and Bankruptcy Code, 2016, that makes certain persons ineligible to be a resolution applicant. Those…
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