Supreme Court says Delhi High Court can take up issue on October 6 and state-owned lender can also seek removal or modification of stay order In a relief to Reliance Group Chairman Anil Ambani, the Supreme Court has dismissed State Bank of India’s plea seeking vacation of stay on personal insolvency and bankruptcy proceedings against…
The liquidation of Elite Insurance has left 60,000 private and professional clients in France without construction insurance as of September 15, 2020. French authorities have said claims not processed by this date are not eligible for compensation as contracts have ceased. The administration of Elite Insurance has been managed by PricewaterhouseCoopers, who confirmed in February…
By Andrie Kypridemo As if the haircut on deposits required for the bail-in of banks in March 2013, and the credit constraints that brought Cyprus businesses to their knees, werent enough, just 7 years after another black March dawned further financial constraints came from Covid-19 measures. Having reduced their operations to the very minimum or…
Marion van Dijk/Stuff Nevil Basalaj, director of liquidated company Nelson Reliance Engineering, has been ordered to pay Inland Revenue reparations, after the company failed to pay $491,000 PAYE and related taxes. Businesses owed more than $4m from a Nelson company, whose director has been sentenced for tax default, are frustrated they dont know what has…
A SEEMINGLY straightforward voluntary liquidation of a multimillion-dollar Toowoomba civil construction business has gone pear-shaped. Hotshot Transport Queensland Pty Ltd, which traded as HTQ Civil Pipe Mining, was placed in a member’s voluntary liquidation on June 30 and Adam Ward of Worrells Solvency and Forensic Accountants was appointed liquidator. Before placing the company in liquidation,…