Barely a week after the collapse of embattled surf and skate wear retailer SurfStitch Group, administrators have received a proposal to restructure and relist the company an outcome that would preserve some value for long-suffering shareholders. The confidential proposal was received on Tuesday morning before the first SurfStitch creditors meeting at the company’s headquarters at…
DetailsShare Tweet Share Share Email With some top developers in the National Capital Region (NCR) filing for insolvency, a Magicbricks Consumer Choice Poll revealed that about 90% of investors are unaware of their rights and how they are impacted when their developer is declared insolvent. Magicbricks, conducted the poll (sample size of 900) to get insights into…
DetailsBusiness and personal insolvency experts, Fortis Insolvency, has selected encompass verify to support and enhance their Know Your Customer (KYC) compliance processes. Manchester based Fortis Insolvency provide advice and support to business and individuals across the north west who may be facing financial and operational issues. The only provider of simultaneous, real-time access to multiple…
DetailsBusiness News Legal Live Business By Chris Cooke | Published on Tuesday 5 September 2017 The company behind the two day Liverpool music festival Hope & Glory, which was called off half way through after severe over-crowding on day one, resulting in a series of car crash communications from organisers, has gone into liquidation. As…
DetailsThe Corporate Insolvency Bill, which is expected to provide a framework for restructuring viable but temporarily distressed businesses and the New Companies Bill, which includes a clause on beneficial ownership, are expected to be laid before Parliament soon, the Ghana Association of Restructuring and Insolvency Advisors (GARIA) has indicated. Currently, the two bills are…
DetailsThe declaration of Jaypee Infratech as insolvent under the new Insolvency And Bankruptcy Code, 2016 is just the tip of a massive real estate ice berg which has the potential to sink hundreds of thousands of families. Other developers will follow the same exit route soon given the impunity with which they have been siphoning…
DetailsThe company behind a music festival that was cancelled on the second day has reportedly gone into liquidation. Hope & Glory Festival in Liverpool was pulled on 6 August following reports of overcrowding and acts that were cancelled at the last moment due to scheduling delays. Police were called to assist with an additional entrance…
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…
DetailsTexans affected by Hurricane Harvey, including my family and me, appreciate the outpouring of support from across the country. President Donald Trump has even pledged to donate one million dollars to relief efforts. These private donations will be much more valuable than the as much as 100 billion dollars the federal government is expected to…
DetailsThe Supreme Court has agreed to hear IDBIs plea seeking modification of its order staying the insolvency proceedings initiated against real estate firm Jaypee Infratech at the National Company Law Tribunal (NCLT), Allahabad. The apex court on Monday stayed the insolvency proceeding against the Jaypee, and issued notice to firm and others on a plea…
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