Eden Road Wines is being pulled from voluntary administration. Creditors (those owed money) agreed on Friday to accept an offer from shareholders that will allow the winery to remain open while the debt of $3,457,711 is paid. Up until the previous Friday, January 25, a sale of the winery was on the cards in order…
With the reference to the above captioned subject, we hereby inform you that 16th meeting of the Committee of Creditors (CoC) will be held on Wednesday, February 06, 2019 at 11:00 am, at the State Bank of India, Stressed Assets Management Branch-II, Raheja Chambers, 1st Floor, B Wing, Free Press Journal Marg, Nariman Point, Mumbai-…
Three brothers, who stole 3m in a tax scam involving pubs and restaurants, have been jailed and banned from being directors for 28 years. Bournemouth brothers Shahab Hashtroudi, 64, Shahin Hashtroudi, 58 and Hedayat Hashtroudi, 68, ran pubs and restaurants in Hampshire, Dorset and Surrey, using the money to prop up their loss-making business empire…
STRUGGLING with debt and feeling stuck? Steve Blofield knows the feeling after having to drop out of school in Paulsgrove at the age of 15 to help pay off his mothers debts. The 54-year-old said: Some of my earliest memories are of my mother getting me to answer the door to bill collectors to make…
The 73-year-old and his partner Ria have been living in poverty in southeastern Bulgaria for the last two months, only to receive help after his story grabbed huge attention in the Netherlands following a TV documentary shown last Sunday. They survived the freezing conditions in a broken-down van, lacking electricity, water and sanitary facilities, and…
A UNIVERSITY admin worker has declared bankruptcy, almost six years after she told a group of students to leave an indigenous-only computer lab at the Queensland University of Technology. Cindy Prior became the subject of a nationwide debate around racial discrimination when she told a handful of QUT students to leave the lab in May…
With the palladium price more than $500/oz more expensive than platinum, which is trading at about $812/oz and no signs of palladium supply matching demand any time soon, autocatalyst makers are moving closer to substituting palladium with platinum, Muller said. There are no short-term levers to pull to increase palladium by any miners, particularly in…
RCom on Friday said that it has decided to file for insolvency as the proposed asset monetisation plan failed to make any progress. With Anil Ambanis Reliance Communications (RCom) filing for insolvency proceedings under the Insolvency and Bankruptcy Code (IBC), the Department of Telecommunication (DoT) is likely to take a hit over its claim of…
Super priority lending (also known as rescue financing) has been recognized in many jurisdictions. In India, it has now been expressly covered, to some extent, under the Insolvency and Bankruptcy Code, 2016 (IBC). It falls under the realm of interim finance, which is provided during the corporate insolvency resolution process of an Indian corporate debtor…
Last year corporate deaths rose to levels not seen in five years. On almost every level, personal and company insolvencies are rising, and fast, according to the Insolvency Service. It is bleak news in a bleak midwinter. Maybe that is not a surprise.HMV and House of Fraser were just two of the high street names…