‘We’re not in a sitcom’: Ex- One Nation senator Culleton warned by magistrate – WAtoday

September 26 2017 – 1:13PM 33 reading now Former One Nation senator Rod Culleton has been warned by a Perth magistrate to stay on track while representing himself against a stealing charge. Mr Culleton allegedly prevented bank-appointed receivers from leaving his friend’s farm, where they had begun foreclosure proceedings, by surrounding their $27,000 hire car…

Excessive credit drives personal insolvencies – MacroBusiness (blog)

By Martin North, cross-posted from the Digital Finance Analytics Blog: New data from the Australian Financial Security Authority shows that in 201617, the most common non-business related causes of debtors entering personal insolvencies were: excessive use of credit (8,870 debtors) unemployment or loss of income (8,035 debtors) domestic discord or relationship breakdown (3,222 debtors). However, employment related issues figured…

IBA seeks exemption from shareholder nod in insolvent co sale – Daily News & Analysis

The banking industry has sought exemption from shareholder approval for change in capital structure or sale of assets or company during insolvency proceedings. Indian Banks’ Association (IBA), the umbrella body of banks, has sought the intervention of Insolvency & Bankruptcy Board of India (IBBI) to address a number of issues that may crop up while…

NCLT starts insolvency proceedings against Amrapali Infrastructure – Economic Times

ET Bureau| Sep 26, 2017, 12.49 AM IST Amrapali Infrastructure is into leasing of construction equipment and has a factory in Greater Noida that makes hollow core slabs and column beams for affordable housing projects. NEW DELHI: The principal bench of the National Company Law Tribunal (NCLT) on Monday admitted an insolvency petition against Amrapali…

Drone Volt Acquires Majority of Bankrupt Aerialtronics – Unmanned Aerial

Aerialtronics’ Altura Zenith Drone Volt, a France-based manufacturer of drones, has announced it is buying the assets of Dutch unmanned aircraft systems (UAS) company Aerialtronics, which recently announced it would be seeking partners and investors following a solvency procedure. Drone Volt, taking majority control of Aerialtronics, says the strategic acquisition will strengthen its own position…

NCLT begins insolvency proceedings against Amrapali Infrastructure – Moneycontrol.com

Moneycontrol News Bank of Baroda, lender to Amrapali Infrastructure, has filed a petition of insolvency against the developer with National Company Law Tribunal (NCLT). The tribunal has admitted the plea. According to a ET Realty report, bank had moved the NCLT on August 10, while court pronounced its order only today. Amrapali Infrscturacture owes Rs…

NCLT initiates insolvency proceedings against Amrapali Infrastructure – ETRealty.com

File photo NEW DELHI: The principal bench of National Company Law Tribunal (NCLT) in Delhi on Monday admitted an insolvency petition against Amrapali Infrastructure filed by Bank of Baroda. The builder has defaulted on an outstanding loan amount worth Rs 97.30 crore by Bank of Baroda. The NCLT will now appoint an insolvency resolution professional…