Tata Steel UK on Monday announced it has received confirmation from Britains Pensions Regulator about the approval of a Regulated Apportionment Arrangement (RAA) in respect of the British Steel Pension Scheme (BSPS). The BSPS has now been separated from Tata Steel UK and a number of affiliated companies, the company said in a statement. Estimated…
The number of companies in the Netherlands being declared bankrupt continues to decrease. In August 39 fewer companies were declared bankrupt than in July, Statistics Netherlands reported on Monday. The number of bankruptcies in the Netherlands is now at its lowest level since 2001. A total of 258 companies and institutions, excluding sole proprietorships, were…
The Supreme Court on Monday asked real estate firm Jaypee to deposit Rs 2,000 crore before October 27 and asked for a plan within 45 days on how it will protect homebuyers interest. The court also restrained directors and managing director of Jaypee Infratech and its holding company, Jaypee Associates, from travelling abroad. The holding…
In a significant relief for thousands of home buyers in Noida, the Supreme Court today restrained Managing Director and other directors of Jaypee Infratech from flying abroad and asked the real estate company to deposit Rs 2000 crores by October 27. “We understand their plight. It is a human problem of great magnitude. We will…
Tough insolvency rules could be relaxed, according to a federal minister, as the government looks to reduce the number of businesses pushed prematurely into insolvency. Speaking to a recent industry conference, financial services minister Kelly ODwyer said the onus should be on supporting businesses to survive and grow, not on penalising difficulties. The government believes…
The Reserve Bank of India (RBI) has moved a second defaulter list against 28 NPA accounts for bankruptcy resolution under the insolvency and bankruptcy code. Photo: Reuters Mumbai: At least three large lenders including ICICI Bank Ltd, State Bank of India (SBI) and Bank of Baroda (BoB) are planning to ask the ministry of corporate…
CORPORATE recovery and business advisory firm Quantuma has signed up one of the UKs leading insolvency specialists. Mark Sands has joined the firm as a partner and will lead Quantumas personal insolvency offering. He will be based in Brighton and will also cover the London and Southampton offices. His appointment follows the arrival of partner…
CORPORATE recovery and business advisory firm Quantuma has signed up one of the UKs leading insolvency specialists. Mark Sands has joined the firm as a partner and will lead Quantumas personal insolvency offering. He will be based in Brighton and will also cover the London and Southampton offices. His appointment follows the arrival of partner…
The central government is likely to step in to protect the interest of homebuyers whose investments face uncertainty when bankruptcy proceedings are filed against builders. The government is considering two options. First, amend the bankruptcy law so that homebuyers do not lose out to banks and financial institutions when a defaulting builders properties are liquidated…
NEW DELHI: Union Consumer Affairs Minister Ram Vilas Paswan on Saturday said a committee has been set up to look into the complaints filed by aggrieved home buyers against Jaypee Infratech. “The Consumer Affairs Secretary-headed committee will study the matter and submit a report in three days. We want to protect the home buyers,” Paswan…