Cases such as Jaypee Infratech Ltds which involved 50,000 homebuyers, set off a discussion on whether IBC needs to be amended to give special treatment to certain classes of creditors such as homebuyers. Photo: Hindustan Times The Insolvency and Bankruptcy Code has now been in force for more than a year and given its ambitious…
London – Boris Becker won six Grand Slams during a glittering career but even those treasured trophies are fair game as insolvency practitioners responsible for handling his bankruptcy try to track them down to pay his creditors. The German took the tennis world by storm when as a red-headed 17-year-old he became the then youngest-ever…
The company behind the Wanderlust festivals in Australia and New Zealand has been placed into liquidation. And there is no calming the burgeoning group of creditors who claim they are owed tens of thousands of dollars. scenestr has been contacted by local suppliers and small busnesses claiming they are owed from $300 to upwards of…
TORONTO, ONTARIO–(Marketwired – Jan. 25, 2018) – Electrovaya Inc. (“Electrovaya” or the “Company”) (TSX:EFL)(OTCQX:EFLVF) today announces that its wholly-owned German subsidiary, Litarion GmbH (“Litarion”), has commenced a voluntary structured insolvency process that is expected to result in the appointment of a provisional receiver/liquidator of Litarion and its property by the German court. As reported in…
After filing for bankruptcy last fall, Toys R Us plans to close a fifth of its US stores to make the business viable again. To guide the store closure process, the company has hired two teams of consultants, Hilco Global-Gordon Brothers and Tiger Capital Group-Great American Group. Their tasks include clearing out store merchandise, overseeing…
Anthony Barnard was found dead outside the detached property he once owned The 57-year-old lost his £300,000 home after being declared bankrupt in 2017 Temperatures on the night Mr Barnard was outside dipped to between -1C to -3C By Rod Ardehali For Mailonline Published: 08:51 AEDT, 26 January 2018 | Updated: 08:51 AEDT, 26 January…
CHESTERBROOK, Pa.–(BUSINESS WIRE)–The J.G. Wentworth Company® (J.G. Wentworth or the Company) today announced it has successfully completed its reorganization in coordination with its lenders (Lenders), pursuant to the Companys Joint Prepackaged Chapter 11 Plan of Reorganization that was confirmed by the U.S. Bankruptcy Court for the District of Delaware on January 17, 2018 (the Plan).…
Supreme Court of India on Thursday directed Gujarat High Court not to enter into the debate pertaining to the validity of the Insolvency and Bankruptcy Code, 2016 or the constitutional validity of the National Company Law Tribunal. The Bench of Chief Justice Dipak Misra and Justices AM Khanwilkar and DY Chandrachud was hearing a petition…
Says a number of SMEs havent been getting bidders Kolkata, January 25: Promoters of small and medium enterprises (SMEs) should be allowed to bid for their companies against which insolvency proceedings have begun. A number of SMEs are going without bidders and the Centre allowing promoters of these enterprises to bid would be a positive…
BOSTON–(BUSINESS WIRE)–Capstone Headwaters, a leading investment banking firm, has expanded its Financial Advisory Services (FAS) Group with the addition of Managing Director Edward Schatz. He is based in Boston and will assist clients in navigating through operating and financial challenges by providing a variety of corporate restructuring, transaction advisory, and specialty M&A services. Mr. Schatz…