Video PlayerClose by Xinhua writer Shi Xiaomeng BEIJING, Sept. 11 (Xinhua) — It used to take more than 10 hours to travel from the Kenyan capital of Nairobi to the African country’s major port city of Mombasa, whether by train on a colonial-era railway or by bus on the potholed highways. Now with the China-built…
updated Deirdre Hipwell, Tom Knowles The department store chain said it expected to report pre-tax profits of £33 millionNICK ANSELL/PA The chairman of Debenhams has hit back at suggestions that the retail chain may be looking into an insolvency process, saying it is simply not true. Sir Ian Cheshire spoke out after the department store published…
A Munich district court has held that an online casino credit card debt was not enforceable, a decision which could lead to chargebacks and further complicate online gambling in Germany. A February ruling, which became final last week, held that Landesbank Berlin could not hold a Visa credit card holder responsible for a gambling debt…
It proposes a new regulatory regime for said schemes. The Ministry of Law submitted a bill to update insolvency and debt restructuring laws for first reading in the Parliament, an announcement revealed. Upon the bills passage, the Bankruptcy Act will be repealed whilst the provisions in the Companies Act relating to corporate insolvency and restructuring…
New Delhi: Madras High Court has granted interim reprieve to two private power companies by staying insolvency proceedings against their stressed assets. Several other firms, meanwhile, are likely to approach the Supreme Court on Tuesday, seeking more time to resolve their bad loans and save themselves from insolvency as a Reserve Bank of India circular…
MORE than a quarter of a century ago, media mogul and fraudster Robert Maxwell died under bizarre circumstances. The body of the publishing baron and British MP was found floating in the ocean naked after he vanished from his luxury yacht in the Canary Islands. But while an inquest ruled his death was the result…
NEW DELHI: Oriental Bank of Commerce has approached the National Company Law Tribunal (NCLT) to initiate insolvency proceedings against debt-ridden Simbhaoli Sugars. The sugar company informed the OBC has filed an application with the NCLT, Allahabad seeking initiation of the corporate insolvency resolution process under section 7 of the Insolvency and Bankruptcy Code, 2016, it…