From the brink of bankruptcy to $2.45bn and beyond – The Australian
From the brink of bankruptcy to $2.45bn and beyond The Australian Read the original article here
MPs Declare TUK Insolvent Over Ksh 12B Debt Crisis
Members of Parliament (MPs) from the Committee on Education and Administration have declared the Technical University of Kenya insolvent following a Ksh12 billion debt that has plagued the institution since 2013. On Wednesday, April 16, administrators at the institution faced the committee, upon which a deteriorating cash crunch was noted. Both former and current administrators…
NCLAT rejects Supertech promoter’s plea against personal insolvency proceedings
In a significant development in the ongoing insolvency proceedings involving Supertech Ltd, the National Company Law Appellate Tribunal (NCLAT) has dismissed the plea filed by Ram Kishor Arora, the former promoter of the real estate firm, challenging the initiation of personal insolvency proceedings against him. Earlier this year, the Delhi bench of the National Company…
Technical University of Kenya Declared Insolvent as Debt Soars to Ksh12 Billion
The Technical University of Kenya (TUK) is in a tough spot, grappling with a massive Ksh 12 billion debt. This financial turmoil has led to the university being officially declared insolvent by the Parliamentary Committee on Education and Administration. The committee’s investigation into TUK’s current and past management has uncovered some concerning issues. Staff members,…
Punish all involved in corrupt liquidation of Assam paper mills: Body of unions
Image used for representation | Photo Credit: The Hindu An umbrella organisation of workers’ unions has sought action against all those involved in the corrupt liquidation of two paper mills in Assam, paving the way for one of India’s two major indigenous semiconductor plants. Demanding an independent probe under judicial monitoring to uncover further instances…
Insolvency Service disqualifies over 1,000 directors in 2024-25 – Cowgills
Insolvency Service disqualifies over 1,000 directors in 2024-25 Cowgills Read the original article here
TUK declared insolvent as Parliament orders forensic audit into Sh12bn debt
The Technical University of Kenya (TUK) has officially been declared financially insolvent by the National Assembly, as fresh revelations expose deep-rooted mismanagement and a staggering Sh12 billion debt burden that has crippled the institution. This comes amid shocking disclosures that no employee at TUK has received a full salary since 2013, the same year…
TUK declared insolvent as Parliament orders forensic audit into Sh12bn debt
The Technical University of Kenya (TUK) has officially been declared financially insolvent by the National Assembly, as fresh revelations expose deep-rooted mismanagement and a staggering Sh12 billion debt burden that has crippled the institution. This comes amid shocking disclosures that no employee at TUK has received a full salary since 2013, the same year…
TUK declared insolvent as Parliament orders forensic audit into Sh12bn debt
The Technical University of Kenya (TUK) has officially been declared financially insolvent by the National Assembly, as fresh revelations expose deep-rooted mismanagement and a staggering Sh12 billion debt burden that has crippled the institution. This comes amid shocking disclosures that no employee at TUK has received a full salary since 2013, the same year…
If Ferrari Goes Bankrupt, Will Car Prices Soar or Crash?
It depends on how Ferrari does in the future—if demand stays high, the price will go up. The thing is, we don’t really know what would happen if Ferrari went bankrupt or what the demand for their cars would look like. But honestly, I think Ferrari would still be Ferrari. It’s a pretty iconic supercar…