The National Company Law Tribunal, Chennai, has appointed an Insolvency Resolution Professional (IRP) for Nagarjuna Oil Corporation Ltd. (NOCL) which is setting up a six million tonne refinery on the east coast at Cuddalore in Tamil Nadu. Tuesdays order was based on an application filed by the creditors, a regulatory filing by Nagarjuna Oil Refinery…
He was once counted among the wealthiest Australians, but former mining magnate Joseph Gutnick has declared bankruptcy, with reported debts of $275 million. Back in 2010, Gutnick returned to the BRW Rich List with estimated wealth of $300 million, after an absence of more than 10 years. At the time he owned a string of…
(Reuters) – Liquid crystal display panels manufacturer Japan Display Inc (6740.T) is seeking about 100 billion yen ($893 million) from its main creditors to fund an ongoing restructuring, the Nikkei reported on Thursday. The Tokyo-based company, also known as JDI, has tapped lenders including Mizuho Bank and Sumitomo Mitsui Banking Corp, the business daily said.…
Liz Weston, NerdWallet Published 4:00 p.m. ET July 26, 2017 CLOSE A recent study by the money management app Banktivity says the magic number to feel secure is just over $80 thousand dollars. Josh King has the story (@abridgetoland). Buzz60 Debt consolidation can feel like the answer to a struggling borrowers prayer, but it often…
LINCOLNSHIRE, Ill.–(BUSINESS WIRE)–Zebra Technologies Corporation (NASDAQ: ZBRA), the market leader in rugged mobile computers, barcode scanners and barcode printers enhanced with software and services to enable real-time enterprise visibility, today announced comprehensive actions to restructure its debt. The company closed today on a senior secured credit facility maturing July 2021, initially priced at LIBOR +…
Following Citigroup’s first investor day since the 2008 recession, CEO Michael Corbat said his bank has been primarily focused on positioning itself to take advantage of a changing industry. “We’ve repaired a lot of relationships,” Corbat told “Mad Money” host Jim Cramer on Wednesday. “From a credit perspective, from an earnings perspective, from a business…
Commodities giant Noble Group has outlined a sweeping restructuring plan as it warned investors to brace for a $1.8bn (£1.38bn) loss in its second quarter. Singapore-listed Noble, which ships raw materials such as oil, gas, metals and minerals to high-growth markets in Asia and the Middle East, will sell off its US gas and power…
For more than 140 years, the furnace men at A&G Price’s Thames jobbing foundry have begun the day with a shower of sparks. They found out on Wednesday that those days are now over. Around 100 people have lost their jobs with A & G Price Limited in Thames announcing that the engineering company has…
Written by Surya Sarathi Ray | New Delhi | Published:July 27, 2017 2:23 am Bhushan Steel, which owes banks a whopping Rs 44,447 crore had earlier objected to the insolvency proceedings alleging that SBI had inflated the dues by around Rs100 crore. Representational Image. Related News The New Delhi bench of the National Company Law…
Mumbai: Just seven months after the operationalization of the Insolvency and Bankruptcy Code (IBC), it has been tested by the apex court. The Supreme Court on Monday ruled that a settlement can be considered and a case can be withdrawn after insolvency proceedings have started against a company. More From Livemint » It was hearing…