Shortly before the general election, the government introduced a new statutory insolvency regime for the FE sector, in the shape of the Technical and Further Education Act 2017. Although intended for implementation ahead of the 2018-19 academic year, the process could be delayed if the rules and regulations required to support it do not come…
ONE of South Australias oldest pieces of substantial furniture is in danger of leaving the state. Scammells Auctions will auction a colonial bookcase dating back to the early 1840s which is believed to be one of the states first pieces of furniture. As well as its age, the piece is unique for its river red…
Chegutu West member of the Parliament Dexter Nduna and his wife Schalastica have been declared bankrupt after failing to repay a $231 000 debt owed to Standard Charted Bank. In his ruling High Court judge Justice David Mangota said the two failed to satisfy granted in 2011 while the final order was issued in September…
NEW DELHI: An unsettling experience with the first insolvency verdict where someone related to the defaulting promoter of an auto components manufacturer managed to grab the company at dirt cheap price provided the trigger for the government to seal the opening for a repeat of similar sleighs which, along with a fraud on the exchequer,…
November 24, 2017 Dalibor Rohac Experimental feature Listen to this article Play audio for this article Pause 00:00 00:00 Experimental feature Give us your feedback Thank you for your feedback. What do you think? Ill use it in the future I dont think Ill use it … Read the full article at: https://www.ft.com/content/fa8ebc92-d068-11e7-9dbb-291a884dd8c6
MUMBAI: The Securities and Exchange Board of India (Sebi) plans to ease takeover rules to speed up the resolution of insolvency proceedings for stressed companies as local lenders seek to recover about ?9 lakh crore from entities rendered unviable by the mounting debt pile. The capital markets regulator will likely allow the demerged units of…
Nov 22, 2017 Dan Cole sympathises with the plight of Samoa’s players but insists it would be unethical for England stars to give them a portion of their match fee ahead of Saturday’s autumn international. Anthony Watson revealed recently that the possibility of donating part of the £23,000 earned for each Test — as recently…
New Delhi, DHNS: President Ram Nath Kovind has given his assent to the Ordinance to amend the Insolvency and Bankruptcy Code, 2016, to prevent wilful defaulters from buying back their stressed assets. The Ordinance amends sections 2, 5, 25, 30, 35 and 240 of the Code, and inserts new sections 29A and 235A in the…
MUMBAI/KOLKATA: Debt resolution for smaller companies may see higher challenges and number of companies going for liquidation may rise once the proposed changes to the Insolvency and Bankruptcy Code (IBC) become a law, resolution professionals dealing with smaller companies said. The proposed law may prevent wilful defaulter from buying out their their own units post…
A Lincoln accountant who has been declared bankrupt had £4.5m of debt. The head of Russell Payne & Co, Russell Payne, was interviewed by the Insolvency Service Official Receiver after a bankruptcy order was made earlier this year. It was found that he failed to disclose that he had disposed of assets in the lead…