THE GOVERNMENT has appointed 31 members to the Benches of the National Company Law Tribunal (NCLT) and the Income Tax Appellate Tribunal (ITAT) after the Supreme Court urged the government to fill vacancies immediately. The Appointments Committee of the Cabinet approved the appointment of eight judicial and 10 technical members to the NCLT as well…
Raymond Siu leads raids on gambling dens and clubs in Tsim Sha Tsui that are allegedly controlled by rival triad gangs. SING TAO Previous Next Erin Chan Two rival triad gangs roared through the streets in a car chase that ended with the driver of the target vehicle ramming his way into Kwai Chung Police…
SINGAPORE – Shareholders of Singapore Press Holdings (SPH) have voted overwhelmingly in favour of carving out its media business into a new company limited by guarantee (CLG). Here is a recap of the recent developments for SPH, which publishes The Straits Times. Oct 13, 2020: SPH posts its first ever net loss of $83.7 million…
Company liquidation as a going concern, instead of winding it up and selling the assets bit by bit, is gaining traction, as it helps fetch higher value for creditors while saving the livelihood of employees. The Ahmedabad chapter of the National Company Law Tribunal (NCLT) last week passed an order clearing the liquidation of an…
Imagine a husband going to his wife with a grand scheme to get his family out of the financial trouble theyre in. Out-of-control spending and too much debt has made a mess of their lives, and his wife has been asking him for years to scale down spending and cut back excesses. Unfortunately, thats never…
Many people head into retirement with unrealistic expectations and assumptions. Often, it’s a matter of budgeting incorrectly or carrying too much debt. Someindividuals mightmiscalculatehow soon retirement might be thrust upon them, or they don’t have a good mix of assets to help make ends meet. When these or other assumptions are off base, it can…
Debt relief is just what it sounds like a potential path to getting out from under serious debt if paying it off the normal way isnt realistic. Rather than filing for bankruptcy, debt relief gives consumers an opportunity to pay off some of their debt rather than all of it. The reason why some lenders…
Share of insolvency process initiated by debtors declining over time – Sentinelassam x Begin typing your search above and press return to search. We use cookies for analytics, advertising and to improve our site. You agree to our use of cookies by continuing to use our site. To know more, see our Cookie Policy and…
Specifically, the suspension of the provisions around wrongful trading will be over and creditors can once again seek to put companies who owe them money into liquidation. The end of protections has already been delayed numerous times. The UK Government is undoubtedly concerned that ending the protections all at once will lead to a real…
A Liverpool property company that was behind a number of stalled sites now owes buyers over 41m. Absolute Living Developments (ALD) was behind a string of off plan residential schemes across the north west which were not delivered. The schemes were heavily marketed toward overseas buyers many of whom lived in the Far East. But…