MUMBAI: Realty developers cannot use the force majeure clause for financial crisis and lack of approvals in any project, ruled the Maharashtra Real Estate Regulatory Authority in a recent order against Hindustan Construction Companys subsidiary Lavasa Corporation. In a matter related to a homebuyer Mudhit Guptas complaint against Lavasa seeking refund and compensation for failing…
The UK insolvency service is investigating scandal-hit public relations firm Bell Pottinger, including its influential co-founder Lord Tim Bell, for work in South Africa that led to the companys collapse last year. According to letters seen by the Financial Times, two senior partners have been told the UK government agency is examining potential breaches of…
Debenhams, the department store chain, has asked advisers to explore restructuring plans that could lead to store closures, as the downturn engulfing the UK high street continues to spread. KPMG is investigating turnround options that may also include it asking creditors to accept a compulsory voluntary arrangement, said a person with knowledge of the matter.…
Reported by Bikebiz, news has broken over the weekend of the voluntary liquidation of Factory Media Ltd, owners of multiple sports media brands including Total womens Cycling, Dirt, RCUK and RideUK. Accountants, Chamberlain & Co, have been appointed to oversee the liquidation. While the Factory Media company itself was sold to Forward Internet Holdings in 2012…
People living in Sefton are the most likely in Merseyside to go bankrupt. New data shows a total of 3,141 people in the region either declared insolvency, took on a debt relief order (DRO) or accepted an individual voluntary arrangement (IVA) to manage their debts in 2017. Of those, 146 were aged under 25.Some 42…
THQ NORDIC Kingdoms of Amalur Reckoning: THQ plots new PS4, Xbox release after buying rights to IP DS Latest news: THQ Nordic has now purchased the rights to Kingdoms of Amalur from the developer 38 Studios. The developer declared bankruptcy after missing a loan payment shortly after the release of the game.…
The National Company Law Tribunal (NCLT) Hyderabad has extended by 90 days the deadline for Lanco Teesta Hydel Powers(LTHPPL) corporate insolvency resolution. The insolvency petition was filed by ICICI Bank. Ratakonda Murali, Judicial Member, said, I am satisfied that the Corporate Insolvency Resolution Process is to be extended by 90 days, beyond 180 days as…
It’s been 10 years since Iceland’s economy crashed, but Asthildur Thorsdottir and her husband Hafthor Olafsson are still struggling with crippling debt and an uphill legal battle to save their family home. After taking out what would end up being a toxic loan, the parents of two now adult sons have lived under the threat…