Nagpur: After the Insolvency and Bankruptcy Code was implemented in December last, seven cases related to companies with a Nagpur link have been filed. The code has a faster system for resolution of Non-Performing Assets (NPA). The case can be filed by both borrower or lender, with the option of reviving the company considered before…
The assets of recently bankrupt battery hopeful Aquion were sold to Austrian energy storage firm, BlueSky Energy, according to Germany’s SolarServer. With the help of Google Translate and with the disclaimer that mein Deutsche ist sehr shlecht, here are some of the details: A bid from Austria’s BlueSky Energy for Aquion’s assets was accepted by…
Rickmers has filed for insolvency after it announced a restructuring plan had failed to win approval of bondholder HSH Nordbank. The German shipping company, a 114-vessel charterer and owner of container, dry bulk and Ro-Ro ships, announced in a company email that the insolvency application had been filed and that the court had received it. It added that it could not…
Galway Bay fm newsroom 190 Galway people have reached arrangements on debt or been made bankrupt in the last 3 years.Thats according to the latest report from the Insolvency Service of Ireland.The report cover the period from the beginning of 2014 to the first quarter of this year.It reveals that 84…
Kelantan state assembly speaker says Article 31 (1) of the state constitution bars a person who has not resolved his bankruptcy status from being an assemblyman. PETALING JAYA: The Nenggiri state seat, which falls under the Gua Musang parliamentary constituency in Kelantan, has been declared vacant after its incumbent Mat Yusoff Abdul Ghani was declared…
Jun 01, 2017 11:13 AM IST | Source: CNBC-TV18 As Chandra, completes 100 days in office, CNBC-TV18 learns that he is in process of finalising a structure for the group where all companies will be divided into clusters based on sectors. N Chandrasekaran, the newly-appointed chairman of Tata Group, is planning a massive restructuring exercise…
The National Company Law Tribunal (NCLT), Kolkata Bench, has in its recent ruling in the case of Parker Hannifin India Private Limited v/s Prowess International Private Limited, ruled on the aspect of withdrawal of insolvency petition based on a settlement arrived at between the disputant parties after it has been admitted under the provisions of…
The UKs Pensions Regulator (TPR) has agreed an arrangement with Hoover to allow the household appliances company to offload its main pension scheme to the countrys lifeboat fund. TPR confirmed this week that it had permitted a regulated apportionment arrangement (RAA) with the UK arm of Hoover as the funding needs of the scheme threatened…
There is a proposal from the Economic Commission for Latin American and the Caribbean to help assist regional countries facing debt relief challenges. The idea is to get the outstanding monies placed in a special fund that can be utilized in emergency situations for Caribbean states. Prime Minister, Dr Keith Rowley made public the ECLAC…
Debt settlement is a form a debt relief where you talk to your creditors in a bid to persuade them to essentially remit or forgive part of the debt provided you pay the balance. If the settlement is successful, you only pay a part of the amount owed, with the rest of it being cancelled.…