The IBC amendments under consideration of the corporate affairs ministry were proposed by a panel led by corporate affairs secretary Injeti Srinivas. New Delhi: Indias bankruptcy law, the Insolvency and Bankruptcy Code (IBC), is set for a major overhaul as policymakers seek to decisively deal with business failures that slow down expansion in Asias third-largest…
Vedanta Limited on Saturday informed stock exchanges that it had received a letter of intent (LoI) for Electrosteel Steels. Vedanta had accepted the terms of the LoI and closure of the transaction would be subject to compliance with applicable regulatory requirements and in accordance with the final terms approved by…
BULAWAYO South legislator Edie Cross (pictured) has mocked former First Lady Grace Mugabe over her recent spate of misfortunes, saying she must not cry foul as she had also grabbed several properties from powerless individuals during her husband former President Robert Mugabes reign. By NQOBANI NDLOVU This came amid reports that illegal artisanal miners invaded…
Every visitor to Kyiv knows Andriyivsky Uzviz. This meandering, cobblestoned street snakes down a hill from the city center to the historic Podil neighborhood, and boasts notable landmarks such as Saint Andrews Church and the house of the famous writer Mikhail Bulgakov. With an abundance of cafes, theaters, art galleries, and gift shops, the street…
The Insolvency and Bankruptcy Board of India (IBBI) has sought to streamline the process and criteria for registration of an insolvency professional (IP), seeking to institutionalise this important pillar of the Insolvency and Bankruptcy Code (IBC). Insolvency resolution professionals determine the life and death of a company in the insolvency process. The IBBI move to…
Romanian rail freight company CFR Marfa is not able to pay the wages of its 7,500 employees before the Easter holiday after the railway infrastructure operator CFR blocked its accounts over unpaid debts worth RON836mn (180mn), Ziarul Financiar daily reported on March 29. Trade unions representing CFR Marfa workers have appealed to President Klaus Iohannis…
Controversial property developer Salim Mehajer has been granted bail despite a Sydney court hearing he could try to flee the country – and a suggestion that there was a plane waiting for him in Queensland. The 31-year-old was successful on his fourth attempt on Thursday in the NSW Supreme Court, on condition of a $200,000…
An attempt to sell insolvent KVV Liepajas Metalurgs companys electric steel casting plant along with its equipment failed today as the auction drew no bidders, the companys insolvency administrator Vita Dika told LETA. At two other auctions selling the steel companys property, EUR 82,000 were raised by selling a property in Liepaja at 100B Brivibas…
The court appointed Vita Dika as the new insolvency administrator for the insolvent Latvian steel company KVV Liepajas Metalurgs, the Kurzeme Regional Court reported. Dika, a certified lawyer, is currently serving as an insolvency administrator of a number of other companies. As reported, the Kurzeme Regional Court on March 21 removed Guntars Koris as…