The Mumbai Bench of the National Company Law Tribunal (NCLT) has agreed to hear State Bank of Indias (SBIs) plea to initiate personal insolvency against Rajkumar Dhoot and Pradeep Kumar Dhoot, two relatives of Venugopal Dhoot, the founder and former chairman and managing director of Videocon Industries Limited (VIL). The bank is seeking recovery of…
Clarks could soon be owned by ex-Olympic gymnast Li Ningsinvestment arm Viva China, which aims to buy up 51 per cent of the British footwear retailer for a consideration worth US$69 million (51 million). Viva said it had earlier helped facilitate the acquisition of the business out of voluntary administration by funding a loan to…
Port Klang Authoritys (PKA) bid to claim part of its losses amounting to more than RM2 billion related to the Port Klang Free Zone (PKFZ) debacle have all but disappeared. Despite the Shah Alam High Court ruling in September 2018 that its former general manager was liable for the losses, she has been declared a…
MEDFORD, Ore., Jan. 18, 2021 Rendering financial advisory services in the business turnaround, restructuring and bankruptcy practice areas requires both special knowledge and extensive relevant experience. In 1992, the AIRA established the Certified Insolvency and Restructuring Advisor (CIRA) program to recognize by public awareness and certification those individuals who possess a high degree of knowledge…
A leading barrister has claimed that large numbers of bankruptcy claims will be made by Irelands financial institutions as soon as the courts are allowed to resume normal service. And according to Keith Farry, Irish farmers will be in the eye of the storm. Farry spoke at a recent seminar on farm debt and personal…
Member Article Corporate insolvencies increased by 37.8% to 1,228 in December 2020 compared to Novembers figure of 891, and were 9.2% higher than December 2019s figure of 1,125. Personal insolvencies increased by 2% to 9,518 in December 2020 compared to Novembers figure of 9,328, and were 13.4% higher than December 2019s figure of 8,391. Eleanor…
By Reuters Staff 2 Min Read Kenyan President Uhuru Kenyatta shakes hands with Chinese President Xi Jinping before the meeting at the Great Hall of People in Beijing, China on April 25, 2019. Kenzaburo Fukuhara/Pool via REUTERS NAIROBI (Reuters) – China stands ready to help Kenya deal with its debt challenges and both sides are…
The Delhi High Court on Monday issued notice in a petition challenging Section 10A of the Insolvency and Bankruptcy Code 2016. The petition was filed by Getamber Anand, the Chairman and Managing Director of the ATS Group, through Advocate Kartik Nayar, KN LEGAL, Advocates and Solicitors. On December 2020, the petitioner received a notice from…
Egypt’s Iron and Steel Company workers in the country’s Helwan city organised a protest on Sunday at the company’s headquarters, against a recent decision to liquidate the state-owned organisation. The protestors called on the government to intervene to stop the liquidation move, which they told Youm7 would displace some 8,000 employees. They also demanded the…
A property developer linked to a number of stalled developments in Liverpool has been declared bankrupt. Kerry Tomlinson, 52, a well known figure in Liverpool’s property sector, was the director of Primesite Developments. The company was behind a number of ambitious property schemes but went into liquidation last March. In recent years Mr Tomlinson has…