MUMBAI: The National Company Law Tribunal (NCLT) has admitted Mumbai-based Guruashish Construction for insolvency proceedings as the company has failed to repay a Rs 250 crore debt with the lender – Union Bank of India hoping to recover the soured loan. It is evident that the corporate debtor defaulted in repaying the loan availed and…
SAN DIEGO An enforcer who beat up a man with gambling debts in front of his son was sentenced in San Diego to two years in federal prison for his involvement in a gambling and drug-trafficking ring run by a former USC football player. Jack Rissell, 51, pleaded guilty to extortion last December, admitting in…
Horst Piepenburg has been appointed as insolvency administrator after having conducted the preliminary proceedings. Piepenburg said last week he was in talks with a potential investor for the takeover of SolarWorlds German factories in Freiberg and Arnstadt. According to Reuters, the potential investor is the companys largest shareholder, which is Qatar Foundation. SolarWorld CEO Frank…
THE FORMER chief executive and manager of Grays Athletic has been declared bankrupt reports the London Gazette. Michael Henry Woodward, aged 55, of The Bungalow in Purfleet Road, Aveley had a petition filed against him on November 21st 2016. The bankruptcy order was made on June 6th, 2017. The petition was made by HM Revenue…
Ausgrid’s new shareholders and management team are wasting no time in addressing the company’s capital structure. Street Talk understands that Ausgrid is preparing to tap the United States privately issued debt market as early as this week, with the help of lenders and advisers Bank of America Merrill Lynch and Commonwealth Bank of Australia. The US debt…
Debt management or “credit repair” services can make some alluring promises to those with financial problems. They say they can silence the phone, turn away the debt collectors, wipe away black marks from your credit record – and make those money woes go away. But so often these promises are not met. In too many…
SAN DIEGO (KUSI) A 51-year-old enforcer who beat up a man with gambling debts in front of his son was sentenced in San Diego to two years in federal prison for his involvement in the violent gambling and drug-trafficking organization run by former USC walk-on football player Owen Hanson. Jack Rissell pleaded guilty to extortion…
The Insolvency and Bankruptcy Code, 2016 (Code) was enacted with the primary objective of consolidating and amending various laws relating to reorganisation and insolvency resolution of corporates, firms and individuals in a time bound manner to maximise the value of their assets. Before the Code, there was no single law dealing with insolvency and bankruptcy…
Goldman Sachs has been having a tough time in bond trading,a business that was once a dependable source of revenue.The US bank delivered $US2.8 billion in fixed income, currencies and commodities client execution revenues in the first half of 2017, down 19% from the same period last year. That figure was $US4.7 billion in 2015…
(RTTNews) – While reporting its second-quarter financial results today, Radian Group Inc. (RDN) said that based on the strategic review of the Services business lines to date, it has decided to restructure this business and currently expects to incur charges relating to the changes necessary to reposition this business for sustained profitability. While the company’s…