“Many people have had to turn to various types of credit in order to keep their heads above water, and so have found themselves leaving lockdown with more debt to their name than when they entered it.” For some mortgage advisers, the obvious role for a second charge mortgage is to help their clients who…
A bench of Justices Indira Banerjee and V Ramasubramanian set aside an order of National Company Law Appellate Tribunal (NCLAT) by which it had said that application under section 7 of Insolvency and Bankruptcy Code (IBC) of Dena Bank (now Bank of Baroda) for initiation of insolvency process was time barred. The bench said, To…
The report says this exposes the parastatal to possible seizure of its assets by the lender. [Courtesy] Cash-strapped National Oil Corporation of Kenya (Nock) lost nearly half a billion shillings in a single financial year, raising its accumulated losses to over Sh3 billion. In addition, the auditor general report states that the State-owned corporations current…
The company owning Chronos Cares two aged care homes in Melbourne, founded by brothers Chris and Gerry Apostolatos who within weeks were declared bankrupt, has gone into voluntary administration six days before it was required to return deposits to families of former residents. Administrator PCI Partners has assumed control of the day-to-day operation of Cronos…
Vijay Mallya, the fugitive former head of Indias United Breweries and United Spirits, is bankrupt. The 65-year-old, who lost his final court battle against extradition to India in May 2020, was formally declared bankrupt in the London High Court yesterday. The ruling has immediate effect. Mallya is required to hand over his remaining assets, as…
Casinos are always an exciting topic to explore in movies. From secret agents to daring heists, a prestigious casino always provides a thrilling story. Its a creative way to turn an ordinary situation into a high-stakes one. Read on to discover the best poker casino movies. Why Are Casino Movies So Popular? While physical casinos…
With more than two decades of experience, Hyman focuses his practice on the representation of domestic and foreign lenders in connection with in-court and out-of-court workouts and restructurings in both large and middle-market transactions. He has vast transactional experience representing agents and other secured creditors in order to maximize their recoveries in all types of…
The Supreme Court on Wednesday ruled that plea by financial creditor for initiation of insolvency resolution process against a corporate debtor before the adjudicating authority will not get time barred on the ground that it had been filed beyond a period of three years from the date of declaration of the loan account as NPA.…
NEW YORK, Aug. 4, 2021 /PRNewswire/ —Crowell & Moring has expanded its Corporate Group in New York with the addition of partner Frederick “Rick” Hyman, a highly regarded financial restructuring and insolvency lawyer. With more than two decades of experience, Hyman focuses his practice on the representation of domestic and foreign lenders in connection with…
Editorial Independence We want to help you make more informed decisions. Some links on this page clearly marked may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money. A home equity line of credit (HELOC) can be a credit nightmare or…