The fifth progress report on the insolvency of retail FX broker Alpari (UK) shows the special administrators have paid a total of $77.9 million from the client money pool in respect of 13,644 clients. The joint special administrators (JSAs) from KPMG have just published their fifth progress report into the case of Alpari (UK), one of…
Image copyright Reuters Air Berlin, Germany’s second-largest carrier, has filed for insolvency, after its main shareholder Etihad declared it would not be providing further financial support. The airline, which has accumulated debt for almost a decade, reported a record loss of 782m euros (£713m) in 2016. Flights will continue to operate thanks to a transitional…
Retired solicitor Brian ODonnell, formerly of Gorse Hill, Vico Road, Killiney, Co Dublin, is set to exit bankruptcy later this month. Mr ODonnell and his wife Mary Patricia were adjudicated bankrupt by the High Court in August of 2013. That finding was confirmed by the Supreme Court in February 2015. In July 2016 the ODonnells…
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Board meet was slated for August 11 Hyderabad, Aug 15: With the suspension of powers of the board of directors of Lanco Infratech Limited under the insolvency resolution proceedings, the results of the company will be submitted by Savan Godiawala, who has been appointed as the interim resolution professional. The company had earlier informed the…
A class action will seek to recoup as much as $100 million in GST that may have been incorrectly charged on the sale of apartments in the ACT. International litigation funder IMF Bentham, which is working with Corrs Chambers Westgarth, announced the law suit to the ASX on Tuesday morning. It has lodged a statement…
Legal experts have mixed opinions on the insolvency proceedings against the Jaypee Infratech with regard to the safety of buyers investments. A section of experts said that the insolvency proceedings against the Jaypee Infratech following the National Company Law Tribunal (NCLT) order will benefit around 30,000 homebuyers and it would give them a chance to…
Greens senator Scott Ludlam . Photo: Alex Ellinghausen The co-deputy of the Greens, Scott Ludlam, has resigned from Parliament after discovering he was ineligible to stand at last year’s federal election. Senator Ludlam, who was first elected to the Senate a decade ago, made the bombshell announcement in Perth on Friday afternoon. The Western Australian,…
The Reserve Bank has warned construction activity could begin to decline as the number of residential building approvals falls from its peak in 2016. The message, released in the minutes of the central bank’s August meeting on Tuesday, comes a week after BIS Oxford Economics forecast a 31 per cent fall in the level of dwellings being…
MUMBAI: The National Company Law Tribunal (NCLT) on Monday admitted proposals for the merger between Aircel and Reliance Communications‘ wireless business, as well as the latter’s sale of its tower business to Canada’s Brookfield. The Anil Ambani-owned telco’s shares were up nearly 19% intraday, closing 16.1% higher on Monday at Rs 24 a piece on…