NEW DELHI: The National Company Law Tribunal (NCLT) appointed an insolvency professional on Thursday for Jaypee Infratech, providing thousands of buyers in Jaypee projects two weeks to raise claims related to their flats or plots as part of a court-driven attempt to put in place a revival plan for the developer’s much-delayed housing schemes in…
Radio listeners got quite the insight today when Prime Minister Malcolm Turnbull was grilled in an interview with Bianca, Terry and Bob on 97.3FM. The Netflix company logo at Netflix headquarters in Los Gatos, California. Picture: AFP/Ryan Anson OVER the past few years, Netflix has seemed pretty unstoppable. With hit original series like House of…
Lexington, Ky.-based Lexmark has announced that it will slash 700 jobs about seven percent of its workforce as part of a global restructuring program. The restructuring follows the sale of Lexmarks enterprise software business, including Perceptive, Kofax and ReadSoft to Thoma Bravo last May. Hyland Software, a subsidiary of Thoma Bravo, then bought Perceptive after…
Federal Court proceedings for the ailing Channel Ten, which went into voluntary administration in June, are expected to continue on Friday. Justice David O’Callaghan will deliver a judgment following a hearing in Melbourne in July in which administrator KordaMentha was granted a 120-day extension to its administration period. That means creditors now have until November…
NEW DELHI: The National Company Law Tribunal has admitted the insolvency petition filed by IDBI Bank against debt-ridden Jaypee Infratech. The Allahabad bench of NCLT has admitted the petition filed by IDBI Bank under Section 7 of Insolvency and Bankruptcy Code 2016, Jaypee Infratech said in a regulatory filing. “Consequent upon withdrawal of objections filed…
The case involving Network Ten’s administrators will return to court today. Federal Court proceedings for the ailing Channel Ten, which went into voluntary administration in June, are expected to continue on Friday. Justice David O’Callaghan will deliver a judgment following a hearing in Melbourne in July in which administrator KordaMentha was granted a 120-day extension…
NEW DELHI: Economic Affairs Secretary Subhash Chandra Garg today said the introduction in the Lok Sabha of the bill seeking to deal with insolvency of financial service providers is a significant step. The Financial Resolution and Deposit Insurance Bill, 2017 was today introduced by Minister of State for Finance Arun Ram Meghwal. Soon after, it…
The directors of the now defunct Glasgow-based George Hunter (Demolishers) Limited have been disqualified for allowing the company to continue to incur liabilities despite knowing a petition to wind the company up was before the court. George Beattie (senior) signed a seven year disqualification undertaking on the 12 April 2017; Michelle Beattie signed a three years and six month disqualification…
NOIDA: Jaypee Wishtown homebuyers have pushed the panic button with the company presently listed for insolvency hearing at the Allahabad bench of the National Company Law Tribunal. The buyers have started a social media campaign on micro-blogging site, Twitter with hashtag, Jaypeescam where the buyers are upholding the plight of the buyers invested in Jaypee…
Video PlayerClose BERLIN, Aug. 10 (Xinhua) — Incidents of insolvency among German firms and individuals are on the rise, figures released on Thursday by the Federal Statistical Office show. A total of 1,764 firms were declared insolvent by German district courts in May 2017, an increase of 1.6 percent compared to last year. Most insolvencies…