The long wait is finally over. More than a month after classifying home buyers as financial creditors, the insolvency regulator IBBI has now spelt out the mechanism, albeit indirectly, through which these home buyers voice would be heard in the committee of creditors. The Insolvency and Bankruptcy Board of India (IBBI) has made changes to…
AMERICAS newest game show is causing a stir, with a number of people labelling it dystopian. The show pits recent university graduates against each other in a traditional trivia game show format and the winner gets their student debt paid off kind of like a financial Hunger Games for struggling anthropology graduates. The level of…
Less than one in 10 (6%) of respondents state that their employer provides debt consolidation via workplace lending and counselling services as part of their employee benefits package, according to research by Thomsons Online Benefits. It surveyed 2,000 UK employees working in private sector organisations with more than 500 staff, and also found that 10%…
Eight years after it took over regulation of consumer credit, the Australian Securities and Investments Commission last week announced it had discovered some people have problems handling credit cards. That tells you more about ASIC than credit cards. Having finally stumbled over what everyone with a vague interest in consumer finance already knew, our dopiest…
Village Roadshow has a mountain of debt which it needs to pay down as quickly as possible. In a statement to the market, the entertainment company said its shares were currently in a trading halt to allow it to “provide information about a potential capital raising”. Its temporary suspension from trading is expected…
The Fourth meeting of the Committee of Creditors of the Corporate Debtor was held on Friday, 4 May, 2018 at 2:00 PM at Conference Hall, Asset Reconstruction Company (India) Ltd, The Ruby, 10th Floor, 29, Senapati Bapat Marg, Dadar (West), Mumbai, 400 028.The outcome of the meeting is summarized as herein below:l . The last…
Baby paraphernalia retailer Mothercare is seeking to raise £32.5m from existing shareholders in the latest stage of its battle to adjust to a challenging UK high street. The capital raising will be at 19p per share, well below Fridays closing level of 28.6p. Mothercares shares fell 9 per cent in early London trade to 26p.…
The Seventh meeting of the Committee of Creditors of the Corporate Debtor was held on Friday, 15 June 2018 at 3:30 PM at Grant Thornton India LLP, 16th Floor, Tower Il, India bulls Finance Centre, Senapati Bapat Marg, Elphinstone (W), Mumbai 400013.The outcome of the meeting is summarized as herein below:l. Reviewed and discussed the…
Disclosure under CIRPa) Mr. Kshitiz Chhawchharia, Regn No. IBBI/IPA-001/IP P00358/2017-18/10616 has been appointed as RP in place of Mr. Nilesh Sharma. b) Extension of period of CIRP- The CoC at its meeting held on 23.05.2018 moved an application to NCLT for the extension of period of CIRP u/s 12(2) of the IBC,2016.The Honble NCLT vide…
The boss of a collapsed building company that left 30 homeowners in the lurch has been declared bankrupt for the second time. Auckland man Stephen Foley was the director of Point To Point Holdings, which went into liquidation at the start of 2017, leaving 30 houses at various stages of construction between Tuakau and Whangarei.…