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Self-claimed wealth gurus who drove Lamborghinis now made bankrupt; investors worry about their $5m
SINGAPORE – They each drove Lamborghinis, wore expensive watches and ran schemes where they promised investors high returns for money put into their property deals and other businesses. But just three years after self-styled wealth gurus Lim Jian Bin, 36, and Jason Fong Wai Hong, 46, separately told dozens of investors that they could earn…
Suryajyoti Spinning Mills back on the block at ₹120 cr reserve price
The liquidator of Suryajyoti Spinning Mills Ltd has issued a fresh sale notice for the textile company’s three Telangana manufacturing units and its residual movable assets, with a combined reserve price of ₹123.03 crore, according to a public notice published on August 26 in Business Standard, The Times of India (Telangana) and both the Greater…
Business-related insolvency surge fuels personal fallout
Business-related personal insolvencies are surging, with the number of Australians entering insolvency for business reasons jumping 17.8 per cent in the June quarter. New figures from the Australian Financial Security Authority (AFSA) show 1,093 business-related personal insolvencies were recorded in the June quarter, up from 928 in the same period last year. The rise was…
Ozone Homes invites bids under insolvency process; EoI deadline September 11
Ozone Homes Private Limited, a real estate company undergoing corporate insolvency resolution process (CIRP), has invited expressions of interest (EoI) from prospective resolution applicants as it seeks to revive the company under the Insolvency and Bankruptcy Code (IBC). The invitation has been issued through a modified Form G by resolution professional Ashok Mittal. The revised…
Edge Early Learning centre in Charnwood ordered to close as provider goes into voluntary administation
The childcare regulator has ordered Edge Early Learning in Charnwood in Canberra’s Belconnen area to close for three months. The notice of suspension, issued by Children’s Education and Care Assurance (CECA), comes about a month after an Edge Early Learning centre in nearby Higgins was forced to shut immediately over its response to a serious…
Sintex Industries: NCLAT upholds clean slate principle, rejects shareholder's plea for compensation – ETLegalWorld.com
Sintex Industries: NCLAT upholds clean slate principle, rejects shareholder’s plea for compensation ETLegalWorld.com Read the original article here
When the cure becomes the disease
A law does not become unjust merely because it permits a large loss. Bankruptcy exists precisely because the whole debt cannot be recovered. Nor does an asset become a gift merely because its buyer pays substantially less than the failed company once owed. Debt is not value; an admitted claim is not a market price;…
Stablecoin demand supports Treasury bills, not long bonds
Stablecoin demand is becoming consequential in the U.S. government debt market, but the maturity of that demand matters more than the headline total. Washington now has two debt-market stories running at once. The federal framework for permitted payment stablecoins channels reserves into cash-like instruments and Treasuries with no more than 93 days remaining. Farther out…
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