Written by Sunny Verma | New Delhi | Published:September 13, 2017 3:13 am The law requires majority of directors of a company to initiate the process of voluntary liquidation. Apart from permitting initiation of insolvency resolution process for highly indebted companies that are unable to pay back their debts, the Insolvency and Bankruptcy Code, 2016…
DetailsThe recent SC order against Jaypee Infratech raises serious concerns regarding the Code’s adequacy in dealing with defaulting realtors Photo: Reuters … Read the full article at: http://www.business-standard.com/article/economy-policy/insolvency-code-home-buyers-plight-and-how-realty-firms-should-be-treated-117091200223_1.html
DetailsA sick-out by Air Berlin Plc pilots is threatening an immediate grounding of the insolvent airline. What happened today massively jeopardizes the entire insolvency proceedings, Frank Kebekus, the airlines general representative appointed by a court, said in a statement Tuesday. Unless the situation changes in the short term, we will have to end operations and all…
DetailsA family shops at the Wal-Mart Supercenter in SpringdaleThomson Reuters CHICAGO (Reuters) – Wal-Mart Stores Inc is restructuring its U.S. store operations and will consolidate its business divisions from six to four, the company said on Tuesday. “Our last field restructure was several years ago and our business has changed over that time,” the company…
DetailsJUST 10 South Australians owe taxpayers almost $2 million in combined university debts, new analysis reveals. The Advertiser can reveal the South Australian most in the red needs to pay back $224,218 equivalent to the cost of about eight four-year nursing or teaching degrees. Education Department figures also show almost 180,000 South Australians have debts…
DetailsSeptember 12, 2017 In the wake of Alexion Pharmaceutical’s announcement it will move its New Haven headquarters to Boston, state officials said Tuesday they want back more than $26 million in incentives Alexion received from Gov. Dannel P. Malloy’s First Five Plus economic incentive program. The incentives included a $20 million loan and $6 million…
DetailsMORE than 1700 South Australians have successfully taken on Centrelinks automated robo-debt system and been cleared of owing money or had their debts reduced. Nationally, almost 20,000 Centrelink clients who were advised the could owe the Government money due to welfare-overpayments had subsequently had their debts reduced or scapped, figures released in federal Parliament reveal.…
DetailsNEW YORK, Sept. 12, 2017 /PRNewswire/ — Kobre & Kim, the premier law firm for global disputes and investigations, welcomes Daniel Saval to its cross-border insolvency litigation practice in New York. Mr. Saval represents clients in multijurisdictional insolvency and corporate restructuring disputes, and has particular experience in contentious proceedings involving funds in liquidation triggered by fraud…
DetailsNEW HAVEN, Conn.–(BUSINESS WIRE)–Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) today announced an operational plan to re-align the global organization with its refocused corporate strategy. The plan is expected to deliver approximately $270 million in GAAP and approximately $250 million in non-GAAP pre-tax savings annually by 2019. The restructuring will reduce the Companys global workforce by approximately 20%.…
Details11:3212 Sep (Photo: Golfdigest.com) A popular radio show host has been arrested and charged with 4 counts of fraud after implementing a brazen Ponzi scheme that duped investors of millions of dollars, in order to pay off a slew of gambling debts, according to NJ.com news. WFAN radio personality Craig Carton was one of three…
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