For Queensland mum Emily Banks, the first sign something was wrong came when her husbands tax return failed to show up. The entire $790 return had been garnished, and a call to the tax office revealed it was Centrelink who had taken it. This was at Christmas time last year, and the news came as…
Lenders of Asian Colour Coated Ispat Ltd. (ACCIL) have approved the JSW Groups 1,550-crore bid to acquire the debt-ridden steel firm, sources said. ACCIL went into insolvency in July last year after the National Company Law Tribunal (NCLT) admitted an application by State Bank of India (SBI) to initiate the Corporate Insolvency Resolution Process (CIRP)…
Last week, the High Court dismissed an appeal in Carter Holt Harvey Woodproducts Australia Pty Ltd v The Commonwealth of Australia and Others[2019] HCA 20. Amerind Pty Ltd became insolvent in 2014, with $21 million in debts repaid to Bendigo and Adelaide Bank, leaving a receivership surplus of about $1.6 million. The Commonwealth of Australia…
Lenders of Asian Colour Coated Ispat Ltd (ACCIL) have approved the JSW Groups 1,550 crore bid to acquire the debt-ridden steel firm, sources said. ACCIL went into insolvency in July last year after the National Company Law Tribunal (NCLT) admitted an application by SBI to initiate Corporate Insolvency Resolution Process (CIRP) for the company. The…
The committee of creditors (CoC) of the Corporate Debtor, pursuant to the meeting held on May 30, 2019 and in terms of Section 22 (2) of the Code, resolved, with requisite voting share, to replace the existing Interim Resolution Professional with Mr. Anish N. Nanavaty as the resolution professional (RP) for the Corporate Debtor. Accordingly,…
Deutsche Bank AG is considering cutting 15,000 to 20,000 jobs, or more than one in six full-time positions globally, the Wall Street Journal reported on Friday (Jun 28), citing people familiar with the discussions. The layoffs would probably take place over more than a year and would spread across regions and businesses, the Journal said.…