TOLEDO, OHIO – General Motors will end production this week at the first of five North American plants it wants to close by early next year as part of a companywide restructuring. The last American-made Chevrolet Cruze will come off the assembly line Wednesday at GMs sprawling Ohio assembly plant near Youngstown, GM spokeswoman Kim…
Analysts said the MCA notification helps clear the ambiguity regarding who can approach NCLT for CIRP. The government has allowed trustees, estate administrators, persons authorised by a companys board of directors etc toinitiate corporate insolvency resolution process (CIRP) against a corporate debtor before the NCLT, on behalf of financial creditors under the Insolvency and Bankruptcy…
Divorce is not the only scenario in which you can be affected by whether you married in community of property or out of community of property, according to attorney Simon Dippenaar. He points out that another major event to consider is insolvency. What is insolvency? He explains that insolvency is not the same as bankruptcy,…
Carlyle Group is to provide funding to restructuring US-based Nordam to enable the aerostructures manufacturer and repair provider to emerge from Chapter 11 bankruptcy protection. But the Siegfried family, which founded and still owns Nordam, will continue as a shareholder of the Tulsa-based company. The Siegfried family will retain its 50-year ownership and oversight of…
The Insolvency and Bankruptcy Board of India (IBBI) has come up with a charter of responsibilities for Insolvency Resolution Professionals (IRPs) and Committee of Creditors (CoC) so that stakeholders have a complete and clear understanding of their roles and responsibilities in a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC). This…
Vision Gelpack Goes into Voluntary Administration – EIN News Trusted News Since 1995 A service for global professionals Monday, March 4, 2019 478,230,744 Articles 3+ Million Readers News Monitoring and Press Release Distribution Tools News Topics Newsletters Press Releases Events & Conferences RSS Feeds Other Services Questions? … Read the full article at: https://www.einnews.com/pr_news/478198192/vision-gelpack-goes-into-voluntary-administration
When we think of celebrities, we always think of them as having tons of money. Money that will buy them luxury cars, destination homes and so much more. But thats not always the case. Many celebrities go from being famous and having it all to being bankrupt almost overnight. In some cases, this may be…
Port of Tyne is axing a number of back office roles within its business as part of a restructuring exercise. The company confirmed that it is planning to make cuts to its support team, after making the decision to close its external haulage business in January. The firm has declined to say how many jobs…
NEW YORK, March 03, 2019 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Yangtze River Port and Logistics Limited, YRC Worldwide Inc, Natural Health Trends Corp., and Maiden Holdings, Ltd. Stockholders have until the deadlines listed below to petition the court…
Mumbai: A new amendment to corporate insolvency regulation prescribing stringent punishment for successful resolution applicants who fail to make promised payments is likely to protect the new bankruptcy law from frivolous bidders, lawyers said. The amendment comes after recent cases of backtracking by winning bidders in taking over debtladen companies. The latest of such example…