Lenders of insolvent Bhushan Power & Steel (BPSL) have chosen the Rs 197-billion bid of JSW Steel. The committee of creditors (CoC) voted by a 66.6 per cent majority in its favour. Tata Steel and Liberty House were also in the race to acquire the company after the National Company…
Coimbatore: In a ruling that would benefit workers seeking initiation of insolvency against their employer for pending wages, the National Company Law Appellate Tribunal (NCLAT) has said that eligible employees can be represented through a single application. With this, the NCLAT has overturned the order by the National Company Law Tribunals (NCLT), Kolkata bench that…
There has been a significant increase in calls to debt assistance services by seniors this year, including those struggling with their mortgage repayments. According to recent statistics from the National Debt Helpline, a free independent service launched in 2011 for Australians experiencing financial difficulty, the helpline received more than 120,000 calls from January to August…
Ian Berry/CNNMoney Ian Berry/CNNMoney … Read the full article at: https://www.keyt.com/news/education/judge-unblocks-obama-rule-on-student-debt-relief/807888198
(CNN) – An Obama-era rule designed to help students cheated by for-profit colleges get relief on their education debt finally took effect Tuesday after efforts by the Trump administration to block it. A federal judge ordered immediate implementation of the rule, delayed last year by Education Secretary Betsy DeVos, while a challenge from the for-profit…
Liquidation sales at select Sears and Kmart stores are expected to begin within the next two weeks. (Jason Rzucidlo/AmericaJR) HOFFMAN ESTATES, Ill. Sears Holdings Corporation (Holdings, we, our, or the Company) (NASDAQ: SHLD) today announced a series of actions to position the Company to establish a sustainable capital structure, continue streamlining its operating model and…
Sub: Extension of timelines for submission of Expression of Interest (EoI) Dear Sir, This is in reference to the captioned subject and our letter dated 25th September, 2018. We wish to inform you that as part of the Corporate Insolvency Resolution Process (CIRP) under the provisions of the Insolvency and Bankruptcy Code, 2016, Mr. Rajiv…
Net SE, the company behind the photographic brands Meyer Optik Goerlitz, CP Goerz and Oprema Jena, has been declared insolvent and will be wound up. German blog Photoscala reports that insolvency proceedings have started for the assets of Net SE, thus throwing the fate of all of its many crowdfunded lens campaigns into doubt.…
The US Bankruptcy Court for the Southern District of New York has approved US retailer Sears Holdings first day motions for its voluntary Chapter 11 restructuring. The retailer filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code yesterday. This approval is expected to improve the companys liquidity position and allow it to…
LOS ANGELES, Oct. 16, 2018 /PRNewswire/ — After a period of unprecedented growth, national wholesale insurance brokerage, managing general agent and program underwriter Worldwide Facilities announces an organizational restructuring. The company will reorganize into three divisions: Worldwide Brokerage, Worldwide MGA, and Worldwide Programs. The driving force for this change is the significant growth that Worldwide…