Photo: McGregor.com The parent company of fashion chains McGregor, Gaastra and Adam Menswear was declared bankrupt on Thursday, just days after requesting court protection from creditors. The Doniger Fashion Group was formed last year when the McGregor group first collapsed. Doniger has 75 shops, of which 53 are in the Netherlands, and a workforce of…
DetailsMoneycontrol News An all-India homebuyers group, in a letter to the Prime Minister Narendra Modi, has sought an amendment to the Insolvency & Bankruptcy Code 2016 to ensure that homebuyers’ interests are protected during insolvency proceedings, and has also brought to his notice that Real Estate (Regulation and Development) Act 2016 (RERA) has not offered…
DetailsUpdated Sept. 7, 2017 7:50 p.m. ET WASHINGTONPresident Donald Trump signaled he was open to making more deals with Democrats in Congress despite anger from fellow Republicans over a bipartisan agreement that passed the Senate Thursday yoking hurricane aid to an extension of the governments ability to borrow. For months, Mr. Trump has publicly mused…
DetailsBell Pottinger, the British public relations firm disgraced by accusations that it exploited racial faultlines in South Africa, is on the brink of collapse. The company is expected to go into administration part of the U.K.’s corporate insolvency process as early as next Monday, and a number of staff members have been told of their…
DetailsSeptember 7, 2017 The board of edible oil maker Ruchi Soya Industries Ltd has set up a committee to explore business restructuring options, the company said in a statement. Ruchi Soya is considering internal restructuring options including creating subsidiaries for individual businesses within the company, and separating businesses into individual entities, the company said in…
DetailsADMINISTRATORS for Ostwald Bros have revealed to The Chronicle the full list of creditors owed money. The list includes big names such as Wagners, IOR Petroleum, Ergon Energy, FKG Group, Caltex and Coates Hire. Staff are also believed to be owed about $4 million in redundancy payouts, but that number could climb if more workers…
DetailsThe major shareholder of ailing shipbuilder Nam Cheong has agreed to pay RM50 million (S$16 million) in cash to pare some debts, in a final bid to persuade lenders to help the firm replace debt with equity and avoid liquidation. Malaysian tycoon Tiong Su Kouk – Nam Cheong’s executive chairman – has agreed to inject…
DetailsWESTERN Australias new Labor government has turned to big business in its bid to repair the states diabolical finances, imposing a payroll tax levy on large corporations, while gold miners will be hit with higher royalties. For five years starting on July 1, employers with a nationwide payroll between $100 million and $1.5 billion will…
DetailsThe FBI arrested popular New York City sports talk radio personality Craig Carton on Wednesday, alleging he conducted a Ponzi-like ticket fraud scheme to pay off millions of dollars in gambling debts. New York City sports talk radio host Craig Carton walked out of a federal courtroom Wednesday charged with securities fraud, wire fraud, and…
DetailsNEW DELHI: Home finance companies are jittery about the National Company Law Tribunal’s decision to initiate insolvency proceedings against real estate companies like Jaypee Infrastructure and Amrapali’s Silicon City because the insolvency and bankruptcy code (IBC) does not treat home loan financiers as secured lenders. With the implementation of the IBC in regard to a…
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