The Insolvency Service said on Tuesday that 125 jobs will be cut at the site by the end of October. It will leave 255 workers at the oil refinery in North Killingholme, North Lincolnshire as the official receiver continues to seek a rescue deal for the business. The Government’s official receiver took control of the…
Middlefield Canadian Income PCC – Publication of Circular in connection with the Recommended Proposals for the Reconstruction and Summary Winding-up of the Company and Fund The Manila Times Read the original article here
Many businesses and industry groups are currently advocating for the Treasurer to extend the temporary six month exemption from insolvent trading liability for directors – due to expire on 25 September 2020 – and to also adopt other interim relief measures such as a prohibition on liquidators recovering unfair preference payments to creditors. It had…
The National Company Law Appellate Tribunal (NCLAT) held that the Industrial and Commercial Bank of China Limited (ICBC) was not entitled to retain a fixed deposit of Rs. 27.60 crore belonging to Reliance Communication Infrastructure Limited (RCIL), as no dues were owed by the corporate debtor and the lien letter did not extend to the…
Star Entertainment is in talks to replace its debt with a new lender syndicate that could involve billionaire pub baron and major shareholder Bruce Mathieson. The casino giant on Tuesday reached an agreement with its lenders over debt waivers after a month-long dispute. It is now seeking to replace a $430 million loan with a…
The Madras High Court recently ruled that provident fund dues are excluded from the liquidation estate of a company under Section 36(4)(a)(iii) of the Insolvency and Bankruptcy Code, 2016, and thus cannot be denied to claimants on grounds of delay. The instant case arose from the liquidation proceedings of K.N. Interior Designs and Engineering Pvt.…
‘No choice’: National manufacturer collapses after 30 years Herald Sun Read the original article here
COLOMBO (News 1st); Sri Lanka’s sovereign debt restructuring process is almost complete, marking a significant milestone in the country’s economic recovery. According to an IMF Working Paper titled “Sri Lanka’s Sovereign Debt Restructuring: Lessons from Complex Processes” by Peter Breuer, Sandesh Dhungana, and Mike Li, the restructuring has helped normalize domestic financing conditions and stabilize…
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