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DetailsNEW DELHI: The Supreme Court today agreed to hear IDBI Bank’s plea seeking modification of its order staying insolvency proceedings against embattled real estate firm Jaypee Infratech on September 11. A bench comprising Chief Justice Dipak Misra and Justices Amitava Roy and A M Khanwilkar considered the submission of the bank that staying the order…
DetailsA total of about 150 Sobeys office employees in Nova Scotia have been given layoff notices, including 100 people at the corporate head office in Stellarton. Another 25 affected workers in Nova Scotia are located in Dartmouth, and the remainder were working in smaller offices throughout the province. The Nova Scotia workers are only a…
DetailsBeena Parmar Moneycontrol News The amended Insolvency and Bankruptcy Code may weed out the majority of promoters from bidding on assets undergoing court proceedings and could also deepen losses for banks. President Ram Nath Kovind gave his assent to an ordinance amending the Insolvency and Bankruptcy Code (IBC) on Thursday, barring errant promoters. While lawyers…
DetailsWith online spending up 18 percent since Black Friday 2016, one analyst told CNBC that he has never seen a better holiday sales outlook for e-commerce giant Amazon. “I have to say that this is probably the best setup for Amazon, at least for the holiday shopping season, that I’ve seen in the 15 years…
DetailsA RETURNED Palaszczuk government would fund a public examination in court of those in charge of two building companies that collapsed and left unsecured creditors exposed to the tune of $38 million. Housing Minister Mick de Brenni has made the commitment in a letter to Subcontractors’ Alliance head Les Williams who has pursued security of…
DetailsLast night, the BBC NI Spotlight programme considered the impact of Fixed Odds Betting Terminals (FOBTs) in Northern Ireland. The programme revealed that the PSNI are seeking a prosecution against a bookmaker for operating an FOBT beyond the stakes and prizes allowed under the law in Northern Ireland. A spokesperson for CARE (Christian Action Research…
DetailsShortly before the general election, the government introduced a new statutory insolvency regime for the FE sector, in the shape of the Technical and Further Education Act 2017. Although intended for implementation ahead of the 2018-19 academic year, the process could be delayed if the rules and regulations required to support it do not come…
Detailsnew Alex Ralph Ms Wolstenholme took control of the doorstep lender in August after a botched restructureingPA The troubled subprime lender Provident Financial announced today that its executive chairwoman had died suddenly yesterday. In a statement to the stock market this morning Provident said: It is with profound sadness that the board of Provident Financial…
DetailsONE of South Australias oldest pieces of substantial furniture is in danger of leaving the state. Scammells Auctions will auction a colonial bookcase dating back to the early 1840s which is believed to be one of the states first pieces of furniture. As well as its age, the piece is unique for its river red…
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