January 9, 2019

Glancy Prongay & Murray LLP Reminds Investors of the Deadline in the Class Action Lawsuit Against Yangtze River Port and Logistics Limited – Business Wire

BankruptcyBy Insolvency Advisory Accountants January 9, 2019

LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (GPM)reminds investors of the March 4, 2019deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Yangtze River Port and Logistics Limited (Yangtze River or the Company) (NASDAQ:YRIV) securities between February 2, 2016 and December 5, 2018, inclusive (the ‘Class…

Maryland farmers still committed to protecting the Bay – The Star Democrat

LiquidationBy Insolvency Advisory Accountants January 9, 2019

Within the past few weeks, agriculture has seen some major wins in Washington. The 2018 Farm Bill was passed in the House and Senate, and has now been signed by President Trump. Prior to that, a trade agreement had been arranged between the U.S., Canada, and Mexico just in time for harvest when farmers are…

Amalgamation deal between Maitland Leagues Club and Club Maitland City is off – The Maitland Mercury

LiquidationBy Insolvency Advisory Accountants January 9, 2019

maitland leagues club, club maitland city, ian martin, jeff shute, shaw gidley, administration, clubs The much touted amalgamation between Maitland Leagues Club and Club Maitland City has been axed after creditors were told the historic club will now be placed into liquidation. Maitland Leagues Club went into voluntary administration earlier this year owing creditors, including…

Not necessary to start insolvency against principal borrower first: NCLAT – Business Standard

BankruptcyBy Insolvency Advisory Accountants January 9, 2019

A financial creditor can seek to initiate insolvency process against a corporate guarantor of a company first, instead of the company itself in case the guarantee fails, the National Company Law Appellate Tribunal (NCLAT) has held. Corporate insolvency resolution process, thus, can go ahead against the guarantor under section 7…

Bankrupt man admits to cheating ex-colleague of almost $4M using forged court documents – Yahoo Singapore News

BankruptcyBy Insolvency Advisory Accountants January 9, 2019

To cheat a former bank colleague, a man concocted an elaborate plan to forge court documents including travelling to Malaysia to obtain counterfeit court seals. Cheong Eh Meng ended up cheating almost $4 million from his 65-year-old ex-colleague. On Wednesday (9 January) at the State Courts, Cheong, 55, pleaded guilty to 29 counts of cheating,…

How Enterprises Benefit In Digital Transformation From DXC Technology Acquiring Luxoft – Forbes

RestructuringBy Insolvency Advisory Accountants January 9, 2019

Getty Images DXC Technology yesterday announced its acquisition of Luxoft, a global-scale digital innovator with world-class digital talent. I think this is an interesting acquisition, not only from a services industry perspective but also from the perspective of benefits to enterprise customers undertaking digital transformation. What The Acquisition Signals For The Services Industry From an…

Cant have a one-size-fits-all policy for insolvency, says Prashant Ruia – Economic Times

BankruptcyBy Insolvency Advisory Accountants January 9, 2019

Essar Group CEO Prashant Ruia says there must be a distinction in the bankruptcy code to deal with instances where the promoter has done something wrong and when it is a genuine business decision that has failed. When there is no wrongdoing, We should not talk about punishment, especially at a time when India is…

Reid & Taylor insolvency: NCLT asks staffers to prove net worth by Thursday – Business Standard

BankruptcyBy Insolvency Advisory Accountants January 9, 2019

The National Company Law Tribunal (NCLT) has told the employee association of Reid and Taylor and the investor, who is backing them in their takeover bid, they have time till Thursday to furnish documents regarding their net worth to acquire the company. ALSO READ: RP of Reid & Taylor moves NCLT,…

Debt restructuring for football clubs is milestone, says federation chair Demirören – Hurriyet Daily News

RestructuringBy Insolvency Advisory Accountants January 9, 2019

ISTANBUL Turkeys Football Federation (TFF) chairman Yldrm Demirren has described a plan aimed at restructuring the countrys football clubs debts, estimated to be some 10 billion Turkish Liras, as a milestone. The deal the TFF has struck with the Turkish Banks Association [TBB] will strengthen the clubs financial and administrative structures and represents a strong…

ATO now taking Picton and administrators to court – Print21

LiquidationBy Insolvency Advisory Accountants January 9, 2019

The Australian Tax Office is lodging further legal action against the directors of debt-ridden Picton Press, taking them back to court, and this time has named the companys administrators in its lawsuit, as it seeks to overturn the Dec 18 court ruling, which dismissed its winding up order. In a separate development long-time well respected…

Daily Archives: January 9, 2019