Private power producer files insolvency petition against Tangedco – The Hindu

CHENNAI: Private power producer Ind Bharath Group has filed an insolvency petition against the States power utility Tamil Nadu Generation and Distribution Corporation (Tangedco) for non-payment of dues of over 700 crore under the Insolvency and Bankruptcy Code, 2016. This is the first time the insolvency route has been used to recover non-payment of dues…

‘Give me back my stud cattle’ – Queensland Country Life

THE daughter of a Wide Bay Burnett cattleman, who was evicted and allegedly forced into bankruptcy, has had the stud Brahmans she bought from her parents seized by bank trustees. The 14 stud Brahman cows and calves are set to be sold, despite Brooke Dingle offering evidence of her full ownership. The females were originally purchased by Ms Dingles parents but were bought…

Newcastle leads the pack in personal insolvencies – Armidale Express

NEWCASTLE has the highest rate of personal insolvency in regional NSW according to figures released by the Australian Financial Security Authority. Across the Hunter there were 215 cases of personal insolvency in the June quarter of 2017, with Newcastles 43 debtors the largest in the state outside of Sydney. Across Australia there were 7,729 debtors who entered a…

ICICI Bank’s win in Innoventive Ind case could set a precedent for other insolvency cases – Moneycontrol.com

ICICI Bank‘s win on Friday against defaulter Innoventive Industries in the Supreme Court could set a precedent for other insolvency cases. The apex court ruled that Insolvency and Bankruptcy Code (IBC) is superior to the Maharashtra Act and that management of a company undergoing bankruptcy proceedings cannot continue in its role and must step aside.…