The Insolvency and Bankruptcy Board of India (IBBI) on Friday notified the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017. The board announced the regulations in exercise of its powers conferred by sections 58, 196 and 208 read with section 240 of the Insolvency and Bankruptcy Code,…
DetailsThe government on Friday notified provisions for fast-track resolution of insolvency proceedings. Under this code, insolvency proceedings will be completed in 90 days. The adjudicating authority, which is the National Company Law Tribunal (NCLT), may extend the period of 90 days by a further period of up to 45 days…
DetailsLUXEMBOURG (AP) Greece is hoping to secure more bailout funds to meet a summer debt repayment hump as well as a debt relief deal at a meeting of finance ministers from the 19-country eurozone. The country, which has been promised help on its mountain of debt once its bailout ends next year, is again the…
DetailsThe suite of superannuation taxation reforms affecting contributions, CGT relief and transition to retirement income streams have passed through Parliament. Revenue and Financial Services Minister Kelly O’Dwyer said the amendments under the Treasury Laws Amendment (2017 Measures No. 2) Bill will “improve the fairness, sustainability, and flexibility of the superannuation system.” The amendments ensure superannuation…
DetailsThe suite of superannuation taxation reforms affecting contributions, CGT relief and transition to retirement income streams have passed through Parliament. Revenue and Financial Services Minister Kelly O’Dwyer said the amendments under the Treasury Laws Amendment (2017 Measures No. 2) Bill will “improve the fairness, sustainability, and flexibility of the superannuation system.” The amendments ensure superannuation…
DetailsBoeing (ba) said on Tuesday it would restructure its defense, space and security (BDS) division into smaller units and cut about 50 executive positions, as the world’s largest plane maker seeks to make its business more responsive to customers. The business, which accounted for nearly a third of the company’s total revenue in 2016, will…
DetailsWritten by Sandeep Singh | Updated: June 16, 2017 2:24 am M S Sahoo, chairman of the Insolvency and Bankruptcy Board of India. Related News The Reserve Bank of India (RBI) on Tuesday listed out 12 non-performing asset (NPA) accounts, which account for nearly Rs 1.75 lakh crore of NPAs in the banking system, for…
DetailsAs the focus on data analytics ramps up among the legal profession, one insolvency expert has highlighted that the need for professional scepticism is stronger than ever before. Professional scepticism is described as an independent state of mind that can form an opinion without being affected by factors that compromise judgement, according to Jirsch Sutherland…
DetailsBy Jeff Manning & Mike Rogoway | The Oregonian/OregonLive Nike said Thursday morning it will cut its global workforce by 2 percent in a broad restructuring, a move seen as a reflection of the company’s somewhat weakened competitive position and a sagging retail sector. Nike had 70,000 employees at the end of last year, so…
DetailsSocial worker David Lynch shops for bargains near his home in New Hampshires White Mountains. Lynch doesnt think hell ever finish paying off his student loans. Credit: Jon Fox David Lynch, Bartlett, New Hampshire Social worker David Lynch recalls hearing a radio commercial a few years ago from a company that promised student loan forgiveness…
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