MUMBAI: Finance Minister Arun Jaitley said on Saturday that while previous laws were only partly effective in resolving the problems of insolvency and bankruptcy in the corporate world, one would have to wait to judge the effectiveness of the current mechanism to deal with the issue. “Earlier, if companies were for insolvency, they got stuck…
DetailsAmid growing sense of anxiety and confusion among home buyers of Jaypee Infratech projects, the insolvency resolution professional (IRP) has come up with a few clarifications regarding a resolution plan and chances of refund for stalled projects. The IRP has come up with a list of 27 projects under three land parcels where buyers can…
DetailsMoneycontrol News The big development over the week has been on the real estate front. In a move that would worry homebuyers, one of the large developers, Jaypee Infratech was declared insolvent by the National Company Law Tribunal (NCLT), causing ripples. Being declared insolvent means the developer would be able to avoid the stringent provision…
DetailsNew DELHI: The Insolvency Resolution Professional (IRP) dealing with the Jaypee Infratech case has concluded that the current proceedings will cover apartments and plots spread across 27 projects in three land parcels and has ruled out any impact on projects being developed by Jaypee Associates, while also categorically stating that no refunds are possible. In…
DetailsOfficials at WyoTech, a Corinthian Colleges campus, talk to students on the day their campus shut down. Adolfo Guzman-Lopez/KPCC California Attorney General Xavier Becerra announced on Friday that about $51 million in student loan relief will be coming to former California students of the now defunct Corinthian Colleges. Corinthian intentionally targeted low-income, vulnerable individuals through…
DetailsBuyers of undelivered flats can now seek claims from an insolvent company under the revised regulations of insolvency law. IBBI (The Insolvency and Bankruptcy Board of India) on Wednesday night added a form-F for homebuyers. Earlier the homebuyers didnt have a specific form to be filled up to claim refund from a builder. The government…
DetailsSince time immemorial, women have stayed with violent partners because they can’t afford to leave. Clearly, there’s been progress. In our society women have full economic rights, though we don’t yet have full financial equality. We can hold a job, we can open a bank account, we can own property in our own right, and…
DetailsThe Chinese government has served notice on the countrys foreign investment spree in football clubs, skyscrapers and Hollywood as it moves to curb rising levels of debt among domestic companies. The announcement of restrictions in a range of sectors follows a buying spree around the globe during which Chinese firms and business tycoons have taken…
DetailsOLYMPIA Washington State Attorney General Bob Ferguson recently announced that Lake Oswego, Ore.-based Aequitas Capital Management must provide nearly 2,000 Washington student loan borrowers more than $7 million in debt relief. Washington Attorney General Bob Ferguson A motion was filed in federal court that, when approved, will allow Ferguson to file an assurance of…
DetailsDECEIT: Steve Josifovski thought he could trust his old school friend Lemuel Page, but eventually became just another of the con man’s many victims. Inset: Page and his then wife Fiona at a Josifovski family function in happier times. EVEN now, years later, Steve Josifovski doesnt want to believe he was ripped off. After all,…
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