Insolvency process for Bhushan Power and Steel has hit a fresh hurdle. A legal case between the troubled steel maker and its creditor, a Singapore-based shipping chartering service provider, may upset the whole process. This week a court will hear whether the moratorium declared under Insolvency and Bankruptcy Code (IBC) would be applicable in settling…
DetailsEven now, years later, Steve Josifovski doesn’t want to believe he was ripped off. Steve Josifovski thought he could trust his old school friend Lemuel Page, but eventually became just another of the conman’s many victims. Inset: Page and his then wife Fiona at a Josifovski family function in happier times. Photos: Max Mason-Hubers, Supplied After…
DetailsThe National Company Law Tribunal has created history under the new Insolvency and Bankruptcy Code it last week ordered winding up of two companies – VNR Infrastructures and Bhupen Electronic – after the borrowers and lenders failed to come up with a plan to revive operations. These companies, though small, set a precedent that the…
DetailsAug 14 (Reuters) – The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times – The number of air passengers arrested for drunken misbehaviour on flights and in airports has risen by 50 percent in the past…
DetailsStephen Hundy from Worrells, Canberra. So far, Ive focused on celebrating businesses in this series, as their owners are truly bucking the trends. But what if your business is not only not bucking the trends, but even sliding down a slippery slide to oblivion and financial ruin. What if you are so far from bucking…
DetailsBusiness insolvency is a very real risk for many small businesses but countless business owners are not spotting warning signs early enough. The reality is that around 60% of businesses dont make it past the first three years, which is why business owners should seek help early on to ensure their financial health. But first,…
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,…
DetailsNEW DELHI: The Noida Authority has asked the interim resolution professional (IRP) appointed for the Jaypee Infratech insolvency proceedings to keep the interest of the companys homebuyers as top priority. “We have told the IRP to keep the interest of homebuyers as top priority,” said Amit Mohan Prasad, chief executive officer, Noida Authority. Prasad said…
Details(CNN) — Almost two in five U.S. households carry a balance on their credit cards, according to CNN. The average debt load for those who roll balances from one month to the next is $16,048. That number may seem huge, but there are ways to pay down the debt which best fit your situation. One…
DetailsLabor is reeling after an adviser resigned amid revelations that the party bankrolled its 2016 federal election campaign with the help of up to $140,000 in donations from gold dealers linked to a multimillion-dollar tax scam. The resignation from NSW Labor of rising star, 2016 Senate candidate and gold trader Simon Zhou, comes as respected…
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