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…
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…
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…
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…
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…
SolarWorld said Monday that it plans to hire back some of the workers it laid off last summer, following a favorable ruling last week from the U.S. International Trade Commission. However, any significant hiring may still hinge on action from President Donald Trump, who must consider whether to slap tariffs or other penalties on solar…
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…
Rock group Deep Purples former accountant has been banned as a company director for misappropriating at least £2m from two entities controlling their catalogue of hits. Dipak Rao, who worked for the band behind the hit Smoke on the Water between 1992 and 2014, has been disqualified for 11 years following an investigation by the…
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…
The 40-year history of Germany’s Air Berlin will end in the coming weeks, as its planes and other assets are sold off in bankruptcy proceedings. Here’s what passengers need to know: Is Air Berlin still flying? Flights are still taking off thanks to an emergency loan from the German government. The financial stopgap is supposed…