In the World Banks pecking order of ease of doing business India ranks 130th among 189 nations. And on the vexed parameter of closing down of business, even further down–136th. It takes on an average 4 years to wind up and liquidate a business. It is hoped that this would be drastically reduced to just…
After a 2009 controversy regarding a pre-pack administration involving Wensum, Business mogul and the former Health Secretary, Stephen Dorrell, is once again caught up in a controversy of the same accusation, an insolvency procedure. This time, The Guardian reports the former British Conservative has been accused of the same insolvency procedure but involving Project Viva…
Doing business in India just got easier with a new code on insolvency and bankruptcy passed in the Lok Sabha on Thursday, reported the Mint. Expected to be passed smoothly in the Rajya Sabha too, the bill will help in faster turnaround of businesses as well as exiting an ailing entity, and even recovering of…
The Lok Sabha on Thursday gave its nod to the Insolvency and Bankruptcy Code, 2016, that seeks to improve the ease of doing business in the country. The measure seeks to overhaul the laws regulating insolvency amid a surge in bad loans. The bill will now go to the Rajya Sabha for its consent.…
The average American looks at his or her phone 46 times every day. That number is even higher among U.S. Millennials: individuals in the 1824 age bracket and the 2534 age bracket check their mobile devices 74 and 50 times per day, respectively. With all this time spent on their smartphones, Americans can leverage their…
U.S. Republican presidential candidate Donald Trump said Thursday that if elected, he would scrap a slew of federal regulations he said are even more of a burden on American business owners than high taxes and would try to refinance longer-term U.S. debt. Were lowering taxes very substantially and were going to be getting rid of a…
The business practices of Stephen Dorrell have been called into question after a business partner accused the former health secretary of leaving him with nothing. Dorrell used a controversial insolvency procedure to move a publishing company into a new corporate entity owned by himself, making shares owned by his business partner worthless and allegedly thwarting…
Since Queensland Nickel went into liquidation on April 21 everyone has been worrying about the workers who’ve been retrenched from the Yabulu nickel refinery at Townsville. Well, from a reading of the report by FTI Consulting on Queensland Nickel, the workers were lucky to keep their jobs as long as they did. Because if Yabulu…
A Greater Manchester-based insolvency firm, which manages approximately 2,800 personal insolvency cases across the UK, has fallen into administration. Varden Nuttall entered administration on 24 March 2016, with FRP Advisory partners Ben Woolrych and Phil Pierce as well as Harrisons Business Recovery and Insolvency’s Paul Boyle and Tom Bowes appointed joint administrators. The joint administrators…
IRVING, TEXAS, May 5, 2016 (GLOBE NEWSWIRE) — CHC Group (OTC Pink Sheets: HELIQ; the “Company” or “CHC”) today announced that the Company and certain of its wholly-owned subsidiaries have filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Northern District of…