The government expects the entire Insolvency and Bankruptcy Law to become operational by end-December, Economic Affairs Secretary Shaktikanta Das said here on Tuesday. “We have a definite roadmap to implement the Bankruptcy Law, the Ministry of Corporate Affairs is working on it, the Law Ministry, the Legislative department have played a very…
DetailsBy Reuters Published: 02:44 +11:00, 26 October 2016 | Updated: 02:44 +11:00, 26 October 2016 e-mail LONDON, Oct 25 (Reuters) – London-listed Xcite Energy is set to go into liquidation after bondholders rejected a restructuring plan for the North Sea oil developer, the company said on Tuesday. Trading of the company’s AIM-listed shares was suspended…
DetailsThe UAEs new bankruptcy law could come into effect by the end of the year, amid concerns that the court system may struggle to implement it effectively. The bankruptcy law was published in the countrys official legal gazette on September 29, stating that it will come into effect three months later, according to a senior…
Details2016-10-25T17:16+02:00 17:16 25.10.2016 The National Bank of Ukraine (NBU) deliberately refused to sign an amicable agreement with bank Financial Initiative (Kyiv) that later was announced insolvent, former 100% beneficiary of the bank Oleh Bakhmatiuk has said. “The removal of bank Financial Initiative from the market was a personal whim of Mrs. Gonatareva (NBU Governor Valeriya…
DetailsDeutsche Bank may have to wait until next year to settle a massive US fine which has dented its share price and cast doubt on its future. The bank’s shares slumped to a record low last month after it emerged that the US Department of Justice wanted to fine it $14bn (£11bn) for alleged mis-selling…
DetailsNEW DELHI: Economic Affairs Secretary Shaktikanta Das today expressed hope that the Bankruptcy and Insolvency law would become operational by the end of this year, leading to further ease of doing business. “We have a definite roadmap to implement the Bankruptcy law. The Ministry of Corporate Affairs is working on it. The law ministry, the…
DetailsNew Delhi: Economic Affairs Secretary Shaktikanta Das today expressed hope that the Bankruptcy and Insolvency law would become operational by the end of this year, leading to further ease of doing business. “We have a definite roadmap to implement the Bankruptcy law. The Ministry of Corporate Affairs is working on it. The law ministry, the…
DetailsKARACHI: The State Bank of Pakistan (SBP) issued a circular on Monday allowing the establishment of corporate restructuring companies with the power to acquire, manage, restructure and resolve non-performing loans. According to the circular, corporate restructuring company means a public limited company licensed by the Securities and Exchange Commission of Pakistan (SECP) to carry out…
DetailsThe Department of Education has announced for the first time that some students will have their debts cancelled after the Government was able to recover money from training providers rorting student loans. The news came at the very end of today’s Senate committee into a massive shakeup of the vocational education and training (VET) sector.…
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