Tata Steel UK on Monday announced it has received confirmation from Britains Pensions Regulator about the approval of a Regulated Apportionment Arrangement (RAA) in respect of the British Steel Pension Scheme (BSPS). The BSPS has now been separated from Tata Steel UK and a number of affiliated companies, the company said in a statement. Estimated…
Expert panel plans to exempt low-level defaulters from constituting a committee of creditors Veena Mani | New Delhi Last Updated at September 11, 2017 20:34 IST … Read the full article at: http://www.business-standard.com/article/economy-policy/govt-draws-up-rules-for-individual-bankruptcy-117091101338_1.html
As the Turnbull government readies for a Senate battle over university funding reforms, Education Minister Simon Birmingham claimed changes to HELP student loans contained in the package will effectively save over $2 billion, above and beyond the savings already accounted for in the federal budget. Legislation for the higher education funding changes, which will improve…
Image copyright PA A charity has called for a suspension in the expansion of a major benefit reform because it says families risk being pushed into a spiral of debt. Citizens Advice said those under the Universal Credit system were more likely to struggle with priority debts. But the government said the system offered extra…
All images: Showtime Twin Peaks: The Return may have concluded its run, but that doesn’t mean we’ve been able to get it out of our heads. The entire series was really one surprise after another, but there were some obvious standout moments, which included the introductions of new (and old) characters, sudden shocks, and weird…
The Supreme Court on Monday directed holding companies of Jaypee Infratech to deposit Rs 2,000 crore by October 27, in the latest development in an ongoing suit where homebuyers have challenged the companys move to declare itself bankrupt. Last week, the apex court had stayed insolvency proceedings against Jaypee Infratech. More than 30,000 buyers of…
Moneycontrol News With the process of liquidating companies becoming easier under the Insolvency and Bankruptcy Code, 2016, it’s not only the stressed companies that are taking the winding-up route but also some solvent companies are filing for voluntary liquidation. These firms are financially-sound and are capable of settling their dues but want to shut shop for…
The number of companies in the Netherlands being declared bankrupt continues to decrease. In August 39 fewer companies were declared bankrupt than in July, Statistics Netherlands reported on Monday. The number of bankruptcies in the Netherlands is now at its lowest level since 2001. A total of 258 companies and institutions, excluding sole proprietorships, were…
NEW DELHI: The Supreme Court on Monday re-initiated the insolvency resolution proceedings against Jaypee Infratech, while asking its parent company Jaiprakash Associates to deposit Rs 2,000 crore by October 27. Handing over the management of Jaypee Infratech back to the insolvency resolution professional (IRP), the apex court has asked the professional to submit an interim…
An Allahabad High court ruling involving troubled automaker LML has put the spotlight on the need for neat sequencing of recovery initiatives by lenders, with both banks and company managements often rushing to dedicated tribunals to start bankruptcy proceedings. The court barred parallel proceedings in the National Company Law Tribunal (NCLT) and the Debt Recovery…