NEW DELHI: The Insolvency and Bankruptcy Code review panel called for sweeping changes in the law aimed at easing insolvency rules for small enterprises and providing relief to home buyers by treating them as financial creditors while deeming the amount raised from them for real estate projects as financial debt. The committee proposed that promoters…
With the moratorium period to prepare a resolution plan for Electrosteel Steels set to expire in the next three weeks, the Kolkata bench of the National Company Law Tribunal (NCLT) on Monday asked the resolution professional (RP) of the insolvent company to convene its committee of creditors (CoC) meet as early as possible to expedite…
With $2.7 billion in leases looming, Myer has reportedly ruled out voluntary administration. The retailer has $19.9 million in net debt and gearing of about 3 percent, which means it is moving closer to breached fixed charges cover covenants in banking agreements after a 24 percent fall in earnings in the January half. For its…
MEN have more secret debt hidden from their partners than women and Queensland has the second highest rate of sneaky spending in the country. But Relationships Australia has warned if youre keeping secrets in your relationship there could be more wrong than an inability to control your spending. Research compiled by finder.com.au revealed around 31…
In July 2016 the Australian Government rolled out a new automated income matching system for detecting and recovering debts. The Online Compliance Intervention Program, which soon became known as “Robodebt”, was designed to help the Department of Human Services collect $4.5 million in debt every day. In that sense, it was super efficient. Too efficient,…
GenOn Energy, a unit of NRG Energy that filed for bankruptcy in June 2017, said it has agreed to sell two units of the Canal Generating Plant to Stonepeak Kestrel, a subsidiary of Stonepeak Infrastructure Partners, a private equity firm with offices in New York City and Houston, Texas. The Canal plant in Sandwich, Massachusetts,…
Columbus police searching for missing 16-year-old Columbus police searching for missing 16-year-old Updated: Monday, March 26 2018 3:50 PM EDT2018-03-26 19:50:11 GMT (Source: Columbus Police Department) (Source: Columbus Police Department) The Columbus Police Department is asking for the publics assistance in locating a missing teenager. More >> The Columbus Police Department is asking for…
The Gambling Commission is considering banning people from using their credit cards to place bets. The regulator on Monday said gambling on credit cards increases the risk that consumers will gamble more than they can afford and it would consider prohibiting or restricting the use of credit cards in order to protect gamblers from racking…
March 26, 2018 ComfortDelgro Savico Taxi, a joint venture of Saigon General Service Corporation (Savico) and Singapores largest taxi operator ComfortDelGro, has suspended its business to preserve funds and restructure its taxi-related business in the wake of competition from rivals. In an announcement on Ho Chi Minh City Stock Exchange, the joint ventures said that…
The destinations of Dibbsbarkers partners who are not joining Dentons are starting to emerge. Hall & Wilcox and Piper Alderman will each get a partner as DibbsBarker prepares to close its doors on 30 April after more than 130 years in business. Dentons will welcome 18 partners in total from DibbsBarker 17 in partner roles,…