Staff at Begbies Traynor are marking the 25th anniversary of its office in Preston during which time the 30strong team has helped rescue hundreds of local businesses, saving thousands of jobs. The practice first came to Preston in 1993 when its founders opened the office in Winckley Court. Then known as Buchler Phillips Traynor, the…
The Mumbai Bench of the National Company Law Tribunal has admitted ICICI Banks plea to initiate corporate insolvency resolution process against Unimark Remedies Ltd to recover an outstanding loan of about Rs 149 crore. Corporate insolvency resolution process (CIRP) is the process of resolution of insolvency of a corporate debtor (other than a financial service…
The Nifty50 is expected to open flat on Tuesday tracking muted trend seen in other Asian markets. The index closed 20 point higher at 10,584 on Monday. Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 47 points or 0.44 percent. Nifty futures were trading around 10,575-level…
By Mabell, Dave on April 24, 2018. Dave Mabell Lethbridge Herald [email protected] Albertas economy is growing. But so are interest rates. And a growing number of Albertans are getting anxious about their debt. A new research report from the nations largest personal insolvency firm shows 55 per cent of Alberta consumers are feeling the pinch,…
Insolvency and Bankruptcy Code provides for approval of the resolution plan first by the CoC with 75% majority and then by NCLT. Photo: AFP It is unfortunate that the Insolvency and Bankruptcy Code (IBC) is mired in so much controversy. Part of the problem is that the important players in IBC, namely the committee of…
Disgraced Sydney businessman Salim Mehajer has launched a legal bid to overturn his bankruptcy, stating “only God” has the power to declare him insolvent. A Federal Circuit Court judge declared the property developer bankrupt in March while he was in prison, having been refused bail over claims he staged a car crash and defrauded an…
Mehajer, the former deputy mayor of the now defunct Auburn council, has launched a Federal Court bid to overturn his bankruptcy while he awaits a court ruling on whether he will be jailed for electoral fraud. Mehajer was declared bankrupt by the Federal Circuit Court on March 20 while he was in prison awaiting trial…
At its meeting held on 23 April 2018 The Board of Thomas Cook (India) announced that 23 April 2018 approved (subject to regulatory approvals) a corporate restructuring exercise by way of a composite scheme of arrangement and amalgamation, aimed at streamlining its businesses into four key verticals namely: Travel (outbound, domestic, business travel &…
TROUBLE HITS: Contractor goes bust, workers unpaid on $53m Coast project THE principal of a major Sunshine Coast painting contractor has claimed the business which left trade creditors out of pocket $284,439 also owes him $883,366. In its first report to creditors into the collapse of Freestyle F.C. Pty Ltd trading as Coastgard, liquidator Worrells has…
A DOCTORs surgery was forced to close last week after a GP was declared bankrupt. Abbey Surgery in Abbey Street, Accrington closed suddenly last Friday, leaving patients in the dark as to why the practice had shut. But the Lancashire Telegraph has learnt that Dr Alec Yolomoni Kapenda was made bankrupt in the High Court…