The Indian Institute of Corporate Affairs (IICA) has launched the Graduate Insolvency Programme (GIP) for individuals aspiring to join the insolvency profession in India andabroad. This is among the first such courses in the world for professionals dealing with insolvent companies and helping them achieve debt resolution. Approved by the Insolvency and Bankruptcy Board of…
JOHANNESBURG Under CEO Sipho Maseko over the last six years, Telkom has transformed itself into a very good telecoms business that has shifted its view firmly to the future of data. A few years ago, the company embarked on a restructuring drive that also entailed trimming down its workforce. When Telkom spun-off its wholesale and…
In a landmark judgement, the Mumbai bench of National Company Law Tribunal (NCLT) has nullified the attachment notice served by the Enforcement Directorate on Baroda-based Sterling Biotech Ltd (SBL), saying that the NCLT gives speedier justice and that a new legislation Insolvency and Bankruptcy Code 2016 precedes over the existing legislation. Enforcement Directorate had attached…
The NCLTs Kolkata bench on December 19, 2018, admitted an insolvency petition, filed by the Hinduja Group-controlled Gulf Oil Lubricants India (GOLIL), against ECL under Section 9 of the Insolvency & Bankruptcy Code (IBC), as the coal miner allegedly refused to pay the interest amount on the original debt towards goods supplied. The National Company…
An investigation into collapsed app-development darling Appster has revealed serious concerns about the companys financials, operation and management, with former clients and employees labelling its work dross and its founders devious. Appster was one of Australias premier app-development companies and a poster child of the Australian startup scene, headed up by young founders Mark McDonald…
Thursday, February 14, 2019 There has always been a tension between protecting the interests of defined benefit pension schemes and insolvency given on the one hand The Pensions Regulator (TPR) seeks to protect the interests of pension scheme members and the Pension Protection Fund and on the other, the insolvency regime seeks to protect the…
In 2012, Dutch entrepreneur Bas Lansdorp launched the worlds first private and crowdsourced-effort to create a permanent outpost on Mars. Known as Mars One, this organization was the focus of a lot of press since its inception, some of it good, most of it bad. While there were many who called the organizations plan a…
Cleaning Up on ITV concluded last night on ITV. For the past six weeks, viewers have been following the story of working-class single-mother Sam (played by Sheridan Smith) who suffered from a gambling addiction. Not only that, Sam got herself into illegal waters by participating in insider trading. So how did the series come to…
Business rescue practitioners for financially distressed Esor Construction said on Thursday that the company can be saved. BDO Business Restructurings optimism revives hope that the civil engineering and construction firm, which went into business rescue in August 2018, can be brought back to life as a going concern. The business rescue practitioners are still of…
Australians were addicted to debt. Now were breaking the addiction. The new question is whether we can survive the withdrawal symptoms. Australians are reducing debt in many places. We are cutting the value of loans but also the number of them. We are borrowing less for investment housing but also for owner-occupier. Were limiting housing…