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Category Archives: Bankruptcy

NCLT Principal bench directs to move Videocon insolvency pleas to one court – The Hindu BusinessLine

BankruptcyBy Insolvency GuardianOctober 24, 2018

The principal bench of the National Company Law Tribunal (NCLT) on Wednesday directed to transfer all insolvency petitions related to Videocon group being heard in Mumbai courts to a single court there. NCLT President Justice M M Kumar directed to transfer all insolvency petitions related to Videocon group to one court headed by M K…

How winning $1.54 billion in Mega Millions could still lead to bankruptcy – The Conversation US

BankruptcyBy Insolvency GuardianOctober 24, 2018

One winner finally emerged for the US$1.537 billion Mega Millions jackpot. Research suggests the as-yet unidentified winner may not be so lucky. The jackpot swelled to that huge sum after the 25 drawings held since the end of July failed to yield a winner. That makes it the second-largest lottery grand prize the world has…

SBI seeks adviser to streamline insolvency of 15 Videocon firms – Livemint

BankruptcyBy Insolvency GuardianOctober 23, 2018

Videocons businesses, especially in consumer electronics and home appliances segment, are dependent on each other, according to State Bank of India. Photo: Pradeep Gaur/Mint Mumbai: The State Bank of India (SBI) wants to appoint an adviser to liaison among the separate resolution professionals (RPs) and prospective bidders for the 15 Videocon group entities that it…

Bike Suppliers Concerned About Sears Insolvency – Bike Europe

BankruptcyBy Insolvency GuardianOctober 23, 2018

Regarding Sears bicycle business, mainly U.S. suppliers are affected by this bankruptcy. For example, Kent International Inc. is assembling bicycles for Sears. Since the opening of a completely new bicycle factory in South Carolina about four years ago Kent offers close to market production for its private label and OE-business. How Sears financial troubles would…

As another rate hike looms, more Canadians feel closer to insolvency – Globalnews.ca

BankruptcyBy Insolvency GuardianOctober 23, 2018

The Bank of Canada (BoC) is widely expected to raise its trend-setting interest rate by another quarter of a percentage point to 1.75 per cent, on Wednesday. It would be another step in the gradual move toward higher rates under the stewardship of BoC governor Stephen Poloz. And it could also nudge a growing number…

Will Sears Survive Bankruptcy? – Forbes

BankruptcyBy Insolvency GuardianOctober 23, 2018

Photo by Mario Tama/Getty Images Sears was founded by Richard W. Sears and Alvah C. Roebuck 132 years ago. It was initially a watch company, but quickly expanded and became a major catalogue retailer. For more than 100 years, it was a cornerstone of American retailing. But, its glorious story might be coming to an…

MNP Consumer Debt Index: Fear of rate hikes continues to intensify among Canadians – GlobeNewswire (press release)

BankruptcyBy Insolvency GuardianOctober 23, 2018

Nearly half say they are already feeling the effects of the interest rate increases, up 7 points since June One-third express concern that rising rates could move them towards bankruptcy, up 6-points since June Over half are concerned about their ability to repay their debts if interest rates continue to climb, up 3 points since…

Zimbabwe: Show Us Respect – AllAfrica.com

BankruptcyBy Insolvency GuardianOctober 23, 2018

By Petros Kausiyo ZIFA president Philip Chiyangwa has demanded that his leadership be accorded respect as they battle to keep national football afloat in a tough operating environment under which many an institution could easily have closed shop. The association has battled long and hard in a harsh economic climate to ensure that national teams…

Outstanding tax lands engineering boss with 7-year ban: UK – Mirage News

BankruptcyBy Insolvency GuardianOctober 22, 2018

Engineering boss from Peterhead, Aberdeenshire, banned from running companies for seven years after he failed to pay correct tax over four years. Victor Craig Morrell (49) was the sole director of Specmar Ltd, a company that provided engineering support services to the oil and gas industry. However, Specmar entered into Creditors Voluntary Liquidation in January…

How winning $1.6 billion in Mega Millions could still lead to bankruptcy – The Conversation US

BankruptcyBy Insolvency GuardianOctober 20, 2018

The U.S. Mega Millions lottery jackpot swelled to a record US$1.6 billion after the 25 drawings held since the end of July including the latest on Oct. 19 failed to yield a winner. That ties it for the largest lottery grand prize the world has ever seen. The jackpot for the rival Powerball game also…

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2005
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