All of Puerto Rico has lost electricity. Entire towns are swamped in the deluge. Streets have become rivers and trees have crushed homes. Hurricane Maria is Puerto Ricos worst in nearly a century, a double blow as it follows the destructive Hurricane Irma by just two weeks. The costs, both human and financial, have only…
DetailsPartners said Hewlett Packard Enterprise’s Next restructuring initiative is set to power a sweeping set of channel improvements that is going to drive double-digit channel sales gains. Joseph Yang, director of professional and managed services for Microware Limited, a $130 HPE Platinum partner, said he sees the Next initiative making HPE his No.1 partner in…
DetailsCredit card debt among Americans is at an all-time high. In June, it increased to $1.02 trillion, according to a report from the Federal Reserve. In other words, Americans now have more credit card debt than just before the 2008 financial crisis. When facing such massive amounts of debt, it may be tempting to consider…
DetailsThe Supreme Courts intervention in the bankruptcy proceedings against Jaypee Infratech (JIL) is a legal mess. To begin with, the case brings out a deficiency in the Insolvency and Bankruptcy Code, in that it does not provide for resolution of real estate development firms, and so, does not recognise the legitimate claims of homebuyers and…
DetailsMANILA, Philippines Toys R Us stores in the Philippines remain open for business and are not affected by the financial restructuring of Toys R Us Inc, the largest toy store in the United States. In the Philippines, Toys R Us Philippines is managed and operated by Robinsons Toys Inc, a wholly owned subsidiary of the…
DetailsDatuk Lajim Ukin (front right) was declared bankrupt for a week. Picture by Julia ChanKOTA KINABALU, Sept 21 After a week of being declared bankrupt, Sabah opposition leader Datuk Lajim Ukin has cleared his outstanding debt of RM185,000 and the status has been lifted as of today. Lajim was also forced to vacate the position…
Details21 Sep – Businessman Yuan Bayuan, husband to Chinese actress Kitty Zhang, has dismissed rumours that he is currently millions in debt. As reported on Apple Daily, it was alleged that Yuan owed the employees of his fashion business about RMB 4 million in wages, but decided to gamble it away instead of paying his…
DetailsInsolvency and Bankruptcy Code, 2016 (the, Code) is a crucial legislation passed by the Parliament which has the potential to be a game changer in the insolvency and bankruptcy regime in India. Since the Code is in its nascent stage, it is of paramount importance that interpretational issues are settled at the earliest in order…
Details09:30 21/09/2017 MOSCOW, September 21 (RAPSI) The Moscow Commercial Court has declared Tropicano Business Club controlled by businessman Telman Ismailov bankrupt, according to court records. On September 1, the court dismissed petitions filed by two Cypriot companies to include 59.3 billion rubles (about $1 billion) owed by Tropicano Business Club in the creditors’ list. Aquila…
DetailsAs many as 107 home buyers moved the Supreme Court on Wednesday challenging the order of the National Company Law Tribunal (NCLT) that admitted insolvency petition against Amrapalis Silicon City project in Noida and demanded protection on equal footing as other stakeholders in the project. Represented by advocate ML Lahoty, the petitioners sought enforcement of…
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