Apex court Binani call on Friday – The Telegraph India

Calcutta: The Supreme Court will hear a special leave petition filed by Binani Industries to terminate the ongoing insolvency proceeding against subsidiary Binani Cement on Friday amidst protests from Dalmia Cement Bharat, which strongly objected to the proposed out-of-court settlement. Binani Industries filed the petition over the weekend, the Calcutta bench of National Company Law…

Harvard Illinois Bancorp, Inc. Announces Unaudited Financial Statements As Of March 31, 2018 – PR Newswire (press release)

Unaudited Statements of Net Assets in Liquidation and Changes in Net Assets in Liquidation.  At March 31, 2018, the Company reported unaudited total assets in liquidation, total liabilities in liquidation, and net assets in liquidation of $15.4 million, $1.3 million and $14.1 million, respectively. Assets in liquidation at March 31, 2018 included the $8.1 million…

Binani Industries Moves Supreme Court For Out-Of-Court Settlement With UltraTech – NDTV

Supreme will hear the case on April 13. Kolkata: Binani Industries, the parent company of insolvent Binani Cement, on Monday informed the National Company Law Tribunal’s Kolkata bench that it has moved the Supreme Court for termination of insolvency proceedings against its cement manufacturing subsidiary. The company said it had filed the application in the…

Clifford Chances advises on billion-dollar booze business deal – Australasian Lawyer

A team from Clifford Chance has advised global asset manager The Carlyle Group on its acquisition of Australias largest wine company. The transaction, valued at AU$1 billion for 100% of The Accolades Wine Group from CHAMP Private Equity and minority shareholder Constellation Brands, was led by Clifford Chance partner Andrew Cook in Sydney. “This deal…

Wipro Says Q4 Profit May Be Impacted By Telecom Client’s Insolvency Proceedings – BloombergQuint

Indias third largest software services firm Wipro Ltd. today said its profitability may be impacted by 65-75 basis points in the March quarter as one of its telecom clients is undergoing insolvency proceedings. Without naming the client, Wipro said it had signed a multi-year outsourcing services agreement with a telecom services provider in India in…

Any move on Facor liquidation only after NCLT ruling – Economic Times

KOLKATA: Any move to liquidate Facor, one of Indias oldest producers of ferro alloys undergoing insolvency resolution, can be implemented only after the National Company Law Appellate Tribunal (NCLAT) rules on Facors appeal against an NCLT Kolkata order for initiation of bankruptcy resolution process. Facors committee of creditors (CoC) rejected all resolution plans and conveyed…

Insolvency appointments Mar 22 2018 to Apr 6 2018 – Business News

Firm Appointee/Solicitor Role Company Name Published Date Auxilium Partners Robert Allan Jacobs liquidator Allmodern Corporation Pty Ltd 6/04/2018 Cor Cordis Jeremy Joseph Nipps administrator Hatch Trans Pty Ltd 6/04/2018 Hall Chadwick Brent Trevor-Alex Kijurina liquidator Million Dollar Makeovers Pty Ltd 6/04/2018 Worrells Solvency & Forensic Accountants Mervyn Jonathan Kitay liquidator Zafiro Pty Ltd 5/04/2018 PPB…