News The bankruptcy order was published on Dec. 27. December 28, 2024, 02:27 PM Former oil tycoon Lim Oon Kuin, 82, has been declared bankrupt along with his two children, according to a government gazette published on Dec. 27, 2024. The bankruptcy order was made against the 82-year-old and his two of his three…
Jelena McWilliams, chair of the Federal Deposit Insurance Corporation (FDIC), during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Aug. 3, 2021. Al Drago | Bloomberg | Getty Images There is an $85 million shortfall between what partner banks of fintech middleman Synapse are holding and what depositors…
SINGAPORE, Dec 28 — Former oil magnate Lim Oon Kuin, commonly known as OK Lim, and his two children, Lim Huey Ching and Evan Lim Chee Meng, have been declared bankrupt, according to the Singapore government gazette published yesterday. Channel News Asia (CNA) reported that the declaration follows their consent in September to a court…
SINGAPORE, Dec 28 — Former oil magnate Lim Oon Kuin, commonly known as OK Lim, and his two children, Lim Huey Ching and Evan Lim Chee Meng, have been declared bankrupt, according to the Singapore government gazette published yesterday. Channel News Asia (CNA) reported that the declaration follows their consent in September to a court…
Hin Leong’s founder Lim Oon Kuin and his two children were declared bankrupt last week, the electronic government gazette published on Friday (Dec 27) showed. Better known in the oil trading industry as OK Lim, the 82-year-old, his 57-year-old daughter Lim Huey Ching and 54-year-old son Lim Chee Meng will have their bankruptcy estates managed by…
RIP: The startups that went bust in 2024 Sifted Read the original article here
Once considered a “future trend,” mediation is now becoming a vital tool in managing all disputes. The Insolvency and Bankruptcy Code, 2016 (“the IBC”) lacks specific provisions for mediation in insolvency matters. The Judicial forums including Hon’ble NCLAT, and Ld. NCLT on request of Parties to proceedings allow deferment of the proceedings for settlement. In…
New Delhi, Dec 27 (PTI) The National Company Law Tribunal (NCLT) has directed initiation of insolvency proceedings against Hero Electric after admitting a plea filed by Metro Tyres, an operational creditor claiming a default of Rs 1.85 crore. As per provisions of the Insolvency & Bankruptcy Code (IBC), NCLT has appointed Bhoopesh Gupta as Interim…
Chapter 15 Case Demonstrates Its Effectiveness as an Expedient Judicial Solution for Singaporean Insolvencies in the United States[1] The Bottom Line Chapter 15 of the Bankruptcy Code (which is based upon the UNCITRAL Model Law on Cross-Border Insolvency) is designed to facilitate cross-border cooperation and coordination among courts during a pending bankruptcy or insolvency proceeding…
The Winsome Yarn Limited‘s Committee of Creditors (COC) has approved with the requisite majority, through e-voting, in accordance with the provisions of the Insolvency & Bankruptcy Code, 2016, the Resolution Plan being filed by M/s Mohini Health & Hygiene Limited. The Resolution Professional has applied for approval of the COC approved Resolution Plan with the…