MUMBAI: The National Company Law Tribunal (NCLT) has adjourned the hearing of Ericsson’s petition to admit the insolvency case against Reliance Communications (RCom) to October 6 . Rcom’s senior counsel Ravi Kadam told the bench comprising of BSV Prakash Kumar and V Nallasenapathy that if both parties do not reach a settlement by the allotted…
DetailsThirty jobs lost as Moray engineering firm goes into liquidation 26 September 2017 From the section NE Scotland, Orkney & Shetland A Moray engineering company has gone into liquidation with the loss of more than 30 jobs. Brown Engineering of Fochabers was established in the 1970s. It specialised in the manufacture, installation and maintenance of…
DetailsKONE Corporation, stock exchange release, September 26, 2017 at 09.35 a.m. EEST KONE updates its 2017 business outlook to take into account restructuring costs from the Accelerate program, current foreign exchange rates and the latest business performance forecast KONE announced today a program to accelerate the execution of the Winning with Customers strategy and to…
DetailsBulat Chagaev was the owner of Neuchâtel Xamax FC from May 2011 to January 2012. (Keystone) A Neuchâtel court has confirmed the jail term for fraud and other charges handed down to Bulat Chagaev, the former owner of Swiss football club FC Neuchâtel Xamax. The cantonal court on Tuesday confirmed Chagaevs three-year prison sentence suspended…
DetailsKONE Corporation, stock exchange release, September 26, 2017 at 09.35 a.m. EEST KONE updates its 2017 business outlook to take into account restructuring costs from the Accelerate program, current foreign exchange rates and the latest business performance forecast KONE announced today a program to accelerate the execution of the Winning with Customers strategy and to…
DetailsThe 123 Mart was opened in 1995 by Joseph Choi and has gone into liquidation. Discount store chain 123 Mart Limited has gone into liquidation after failing to pay tax debt. Jared Booth and Tony Maginness from Staples Rodway have been appointed liquidators. The company owns 60 stores throughout New Zealand. Booth said the liquidators were in discussions and negotiations…
DetailsSeptember 26 2017 – 1:13PM 33 reading now Former One Nation senator Rod Culleton has been warned by a Perth magistrate to stay on track while representing himself against a stealing charge. Mr Culleton allegedly prevented bank-appointed receivers from leaving his friend’s farm, where they had begun foreclosure proceedings, by surrounding their $27,000 hire car…
DetailsBy Martin North, cross-posted from the Digital Finance Analytics Blog: New data from the Australian Financial Security Authority shows that in 201617, the most common non-business related causes of debtors entering personal insolvencies were: excessive use of credit (8,870 debtors) unemployment or loss of income (8,035 debtors) domestic discord or relationship breakdown (3,222 debtors). However, employment related issues figured…
DetailsCopper-focused Tiger Resources has secured a $US18.2 million ($A22.9 million) facility agreement with two of its existing lenders, to fund ongoing work it its Kipoi operation in Africa whilst it pursues recapitalisation plans. Perth-based Tiger said the facility provided interim funding to support its ongoing operations at Kipoi, as well as the development of an…
DetailsThe banking industry has sought exemption from shareholder approval for change in capital structure or sale of assets or company during insolvency proceedings. Indian Banks’ Association (IBA), the umbrella body of banks, has sought the intervention of Insolvency & Bankruptcy Board of India (IBBI) to address a number of issues that may crop up while…
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