7 December, 2016 The Insolvency and Bankruptcy Code, 2016 (the “Insolvency Code, 2016”) had received the assent of the President of India on May 28, 2016. Since then, there have been discussions among the stakeholders with respect to its implementation and its repercussions on the interested parties, including corporates and individuals. There have been certain material developments…
DetailsIRON-ORE product trader Abterra said on Wednesday its controlling shareholder, General Nice Resources (Hong Kong), has been put under liquidation by the High Court of Hong Kong. General Nice Resources has a direct interest of 34.96 per cent in Abterra. “The board is assessing the impact on the company including whether the company is able…
DetailsDonna Smith took £90,000 from her employer’s accounts over two years A court heard she later witnessed the 2015 terror attack and suffered PTSD She was spared jail on a suspended sentence after judge heard of her plight By Richard Spillett, Crime Correspondent For Mailonline Published: 03:39 +11:00, 7 December 2016 | Updated: 07:00 +11:00,…
DetailsORLANDO, Fla. (AP) SeaWorld Entertainment Inc. is eliminating 320 jobs across its 12-park company. Company officials said Tuesday in a statement that the goal of the restructuring is to eliminate costs and improve the company’s operations. The job eliminations involve both salaried and hourly workers. The company says it will offer severance packages and job-placement…
DetailsGreece just received some short-term relief from the eurozone. In exchange for successfully implementing tough economic reforms and budget constraints, the country will be given some short-term help in the form of smoothing its repayment schedule for EFSF debt and waiving an interest rate increase that was scheduled for 2017. We agreed the primary surplus…
DetailsThe tribunal in the canton of Neuchatel said in a statement that Bulat Chagaev had been found guilty of criminal mismanagement, embezzlement, attempted fraud and falsification of documents. Eighteen months of the sentence was suspended for a period of two years, the court said. Chagaev had denied wrongdoing. Chagaev took over the…
DetailsGreece just received some short-term relief from the eurozone. In exchange for successfully implementing tough economic reforms and budget constraints, the country will be given some short-term help in the form of smoothing its repayment schedule for EFSF debt and waiving an interest rate increase that was scheduled for 2017. We agreed the primary surplus…
DetailsA non-profit co-op health insurance company that was suspended in July by the Connecticut Insurance Department (CID) due to hazardous financial standing will likely face liquidation by the end of the year, it has been reported. In a Superior Court filing, CID commissioner Katharine Wade stated that further attempts to rehabilitate HealthyCT would be futile…
DetailsOLDWICK, N.J.–(BUSINESS WIRE)–The U.S. health industry is bracing for what further action in the possible Penn Treaty liquidation could hold for the sector, as managed care providers have argued that they should not be liable for the failure of a long-term care insurer. According to a new A.M. Best special report, any action in the…
DetailsThe Ministry of Finance (MoF) is welcoming recommendations from various stakeholders and the insolvency industry to strengthen the insolvency regime. This was announced on Tuesday by Hajah Rena Azlina binti Dato Paduka Haji Abdul Aziz, the Acting Director at the Registry of Companies and Business Names (ROCBN), during her opening remarks at a talk on…
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