KUALA LUMPUR (July 29): The Dewan Rakyat on Tuesday passed a new law that will allow official liquidators or administrators from other countries to access Malaysian courts to request recognition of foreign insolvency proceedings and seek appropriate relief, including orders to halt local legal actions or secure a debtor’s assets. The Bill, known as the…
NAB will no longer consider HECS-HELP debts of $20,000 or lower when assessing borrowing power. (Source: Getty) NAB has joined Commonwealth Bank in relaxing its borrowing rules for people who have a HECS-HELP debt. The federal government asked banks and financial regulators to ease rules earlier this year to make it easier for those with…
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Bank Can Classify Corporate Debtor’s Account As Fraud During CIRP, Such Classification Is Not Hit By S.14 … Live Law Read the original article here
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BluSmart Mobility, the electric vehicle ride-hailing startup, has been admitted into insolvency proceedings by the National Company Law Tribunal (NCLT), Ahmedabad, following a creditor petition filed by Catalyst Trusteeship. The tribunal’s order, delivered on July 28, comes as a blow to BluSmart and adds to the growing turbulence faced by the Gurugram-based company. According to…
The Ahmedabad bench of the National Company Law Tribunal (NCLT) has admitted a bankruptcy plea against ride-hailing startup BluSmart Mobility, marking another blow to the electric vehicle startup ecosystem. The insolvency proceedings were triggered following a petition filed by Catalyst Trusteeship, which approached the court in its capacity as a financial creditor. The tribunal’s order,…
Twenty-nine managers from The Gambia, Ghana, Liberia, Nigeria and Sierra Leone received hands-on training this month to manage their public debt portfolios using a Commonwealth software. Held from 7 to 11 July in Abuja, the training course was delivered by the Commonwealth Secretariat in partnership with the West African Institute for Financial and Economic Management…
Former NBA player Marcus Morris repaid the debt that landed him in a Broward jail cell and is about to go free, a Nevada prosecutor confirmed late Tuesday. Earlier in the day, Morris was ordered held without bond to give the Clark County District Attorney’s Office time to arrange for his extradition to Nevada. The…
Marcus Morris has been denied bond after the NBA player was arrested on a fraud charge at Fort Lauderdale-Hollywood International Airport on Sunday, according to TMZ. The judge denied the bond during a hearing on Tuesday that saw the 35-year-old handcuffed, TMZ noted. “The wording is crazy,” Marcus’ brother Markieff Morris wrote in a post…