NEW DELHI: Finance Minister Arun Jaitley today took stock of steps being taken for implementation of the Insolvency and Bankruptcy Code that seeks to make debt recovery process stronger and quicker. The Insolvency and Bankruptcy Code, 2016 notified by the government in May seeks to consolidate and amend laws relating to reorganisation as well as…
Details“A lot of headwind over the last eight years”Norfresh declared bankrupt On Tuesday, August 16, the court of ‘s-Gravenhage declared fruit and vegetable trading company Norfresh from Poeldijk bankrupt. “We were very close to an extrajudicial creditors proposal, but one of the creditors didn’t want to wait for this and unfortunately pushed through bankruptcy,” according…
DetailsWhat is equity? And who gets it? All venture and seed investors would buy equity shares for ownership and secure their investments with preferred stocks purchase while making investments. Thus it is important for entrepreneurs to understand what it means to their company. Equity broadly means ownership interest. Stock is one of the expressions of…
DetailsTip off Fairfax Media’s investigations team The Federal Court has ordered more than $2 million to be paid to bankruptcy trustees of underworld construction identity George Alex in a case that exposed allegations of standover tactics and dodgy deals across Australia’s building industry. Sydney construction identity George Alex. Photo: James Alcock The case involved some of…
DetailsCompany could have around 4.5m to distribute to shareholders The board of Dublin-listed Merrion Pharmaceuticals has proposed that the company be wound up, with its remaining funds distributed to shareholders. Following the sale of its intellectual property assets to drug giant Novo Nordisk and changes to the licence agreements between the two companies last year,…
DetailsTip off Fairfax Media’s investigations team The Federal Court has ordered more than $2 million to be paid to bankruptcy trustees of underworld construction identity George Alex in a case that exposed allegations of standover tactics and dodgy deals across Australia’s building industry. Sydney construction identity George Alex. Photo: James Alcock The case involved some of…
DetailsThe housing minister is investigating whether a company which Kiwi families say left them with half-finished renovations breached new disclosure requirements. Renovar Ltd, of which Jonathan Sommers was the sole director, was put into liquidation on August 9. And the liquidator says it’s unlikely any of the complainants will get their money back. Homeowner Amanda…
DetailsAug. 22, 2016 12:53 a.m. ET TOKYO Sharp Corp. SHCAY 2.29 % will implement a large-scale corporate restructuring to achieve profitability, with the hope of restoring the brands image as a global provider of innovative consumer electronics, the companys new chief executive said Monday. My mission as the leader of Sharp is to turn around…
DetailsThe list of companies deciding to help employees with their student loan debt is growing. Aetna recently announced that next year it’ll match eligible employees’ student loan payments up to $2,000 per year, with a maximum benefit of $10,000. Only 4 percent of companies offer a student loan repayment assistance benefit, according to the latest…
DetailsNakheel has repaid a Dh4.4 billion Islamic bond as the developer emerges from a five-year financial restructuring. The company behind Dubais palm-shaped islands said the final trade creditor sukuk payment this week marked the end of a process that began in August 2011. It represents a major milestone for a developer often associated with both…
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