NEW DELHI: The government will fix a few urgent problem areas in the insolvency ordinance when it is brought to Parliament in the ongoing session but is likely to make substantive changes to the law in the upcoming budget after the panel looking into the Insolvency and Bankruptcy Code (IBC) makes its recommendations. The government…
DetailsHONOLULU (AP) Hawaiian Airlines’ parent company agreed to purchase Island Air’s operating certificate and other assets in a move that could save the failed company from liquidation. The trustee overseeing Island Air’s bankruptcy case filed a last-minute motion disclosing Hawaiian Holdings Inc.’s purchase. If the sale is approved, then the trustee’s attorney Simon Klevansky said…
DetailsA year after being declared bankrupt, Independent TD Mick Wallace is scheduled to walk away from debts of more than 30m, writes Elaine Loughlin. Wallace leaves behind debts of 30m as he exits bankruptcy Mr Wallace was adjudicated a bankrupt at the High Court on December 19, last year on foot of a 2m judgment…
DetailsSAN JOSE, Calif.–(BUSINESS WIRE)–Immersion Corporation (NASDAQ: IMMR), the leading developer and licensor of touch feedback technology, today announced a series of restructuring actions designed to sharpen the companys strategic focus and establish a more cost-efficient operating structure. As part of these changes, Immersion plans to take the following steps: Significantly reduce its presence in China…
DetailsWith effect from 23 November 2017 Parekh Aluminex announced that Corporate Insolvency Resolution Process has been initiated under the provision of Insolvency and Bankruptcy Code, 2016 by an order of the National Company Law Tribunal with effect from 23 November 2017. The powers of the Board of the… Read the full article at: http://www.business-standard.com/article/news-cm/parekh-aluminex-intimates-of-initiation-of-corporate-insolvency-resolution-process-117122000985_1.html
DetailsA cocaine dealer who said he was drawn into selling the drug to pay off gambling debts is in prison. Darren Stewart, 29, made an abrupt U-turn in a VW Golf when he saw police on Overdale Road, Park End , Middlesbrough. An officer spotted him, became suspicious and followed the evasive lone driver along…
DetailsMILWAUKEE–(BUSINESS WIRE)–Actuant Corporation (NYSE: ATU) today announced results for its first quarter ended November 30, 2017. Highlights Consolidated sales increased 9% over the comparable prior year quarter with a 3% benefit from foreign currency rate changes. First quarter core sales (total sales excluding the impact of acquisitions, divestitures and foreign currency rate changes) increased 6%…
DetailsThe Construction, Forestry, Mining and Energy Union says construction company Grocon has not paid several groups of sub-contractors in Queensland for six to eight months, as concerns about the company’s future continue to simmer. Some contractors working on the group’s Queensland projects such as the Parklands Project, which forms the athletes’ village for next April’s…
DetailsHK: Ashurst snaps up restructuring partner from White & Case | Asian Legal Business HK: Ashurst snaps up restructuring partner from White & Case Ashurst has hired restructuring specialist Damien Whitehead as a partner in… Read the full article at: http://www.legalbusinessonline.com/appointments/hk-ashurst-snaps-restructuring-partner-white-case/75212
DetailsAs previously disclosed, on October 4, 2017, the Company filed a definitive proxy statement for a special meeting of its stockholders, which was held on October 26, 2017 (the “Special Meeting”). At the Special Meeting, the Company’s stockholders approved an asset purchase agreement for the sale of substantially all of the Company’s assets (the “Asset Sale”)…
Details