In his Union Budget speech of 2014-15, the finance minister had announced the development of an effective bankruptcy code for easy exit. Following this announcement, the Viswanathan Committee was set up on August 22, 2014, to study the corporate bankruptcy legal framework in India. Commendably, within a short span of time, a comprehensive Insolvency and…
DetailsJim Sandager, Special to the Register 4 p.m. CDT May 9, 2016 Jim Sandager(Photo: SUBMITTED PHOTO) In my most recent column, I provided advice for your tax refund. One idea that I touched on was using that money to help pay off any outstanding debt that you may be working to pay off. Paying off…
DetailsWritten by Khushboo Narayan | Published:May 10, 2016 12:48 am Being bankrupt is a state of inability to repay debts to creditors. (Illustration by: C R Sasikumar) Lok Sabha last week passed The Insolvency and Bankruptcy Code, 2015, a law aimed at speedy winding up of insolvent companies, lowering NPAs, and redeploying capital productively. KHUSHBOO…
DetailsBERLIN: German Vice-Chancellor Sigmar Gabriel urged euro zone finance ministers to start talks on debt relief for Greece, saying it made no sense to crush the green shoots of economic recovery with further austerity measures. The finance ministers of the euro zones 19 countries are due to meet in Brussels tomorrow to discuss Greeces debt…
DetailsGreek Finance Minister Euclid Tsakalotos. Getty Images by Jan Strupczewski and Renee Maltezou Euro zone finance ministers have offered to grant Greece debt relief by giving it longer grace periods and bond maturities from 2018 if the country delivers by then on all reforms agreed under its latest bailout. The offer, to be worked out…
DetailsA convicted murderer has been declared bankrupt after being sued for damages by his victims family. William Kean is serving a life sentence after being found guilty of killing 80-year-old Jenny Methven in February 2012. Kean was declared bankrupt at Perth Sheriff Court after withdrawing his defence against the claim for compensation by Mrs Methvens…
DetailsThe euro zone turned its attention tentatively on Monday to helping Greece tackle its huge debt repayments, with a view to a deal on May 24, after Greek lawmakers passed unpopular pension and tax reforms one critic called “a tombstone for growth”. The preliminary talks, which are likely to focus on ideas to cap Greek…
DetailsR3 proposals for a new moratorium for insolvent companies has clear benefits for distressed companies and their directors but its creditor appeal will depend on the details Under R3’s proposals, published in April, a company could file for three weeks of protection from its creditors – which could be extended to six weeks…
DetailsBRUSSELS/ATHENS The euro zone turned its attention tentatively on Monday to helping Greece tackle its huge debt repayments, with a view to a deal on May 24, after Greek lawmakers passed unpopular pension and tax reforms one critic called “a tombstone for growth”. The preliminary talks, which are likely to focus on ideas to cap…
DetailsMay 9 Abelco AB : * Board of subsidiary Abelco Nordic AB has in the district court in Uddevalla requested that the company be declared bankrupt Source text: bit.ly/1Okaz87 Further company coverage: (Gdynia Newsroom) Read the full article at: http://www.reuters.com/article/idUSL5N18644P
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