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Category Archives: Bankruptcy

UPDATE 1-Indian court says government can take control of Unitech – Reuters

BankruptcyBy Insolvency GuardianDecember 8, 2017

* Court allows government to replace 10 existing directors * Bans existing directors from raising loans, selling assets * 19,000 buyers await delivery of apartments * Unitech owes about 7.24 bln rupees to 51,000 depositors (Adds details) By Manoj Kumar NEW DELHI, Dec 8 (Reuters) – An Indian court on Friday allowed the government to…

NCLT admits petitions for insolvency resolution against Ruchi Soya – Economic Times

BankruptcyBy Insolvency GuardianDecember 8, 2017

The Mumbai bench of NCLT on Friday admitted edible oil maker Ruchi Soya for insolvency resolution process under IBC. A detailed order is expected by Monday. The company was referred to the tribunal by Standard Chartered Bank as well as DBS Bank, individually and both petitions have been admitted by the court. It owed more…

Ex-BBC boss Yentob faces ‘five-year ban’ over Kids Company ruin – Sky News

BankruptcyBy Insolvency GuardianDecember 8, 2017

Alan Yentob, the former BBC creative chief, is facing a minimum five-year exclusion from holding company directorships as the Government pursues action against the former bosses of Kids Company, the failed charity. Sky News has learnt that lawyers acting for Mr Yentob and his fellow ex-Kids Company trustees have been handed a deadline of December…

eyevis to restructure during insolvency proceedings – InAVate

BankruptcyBy Insolvency GuardianDecember 8, 2017

08.12.17 German videowall manufacturer Eyevis is to complete a restructuring process with the help of insolvency proceedings. On Monday December 5 the company, which is headquartered in Reutlingen near Stuttgart, filed a respective application to its local district court. Its business continues unchanged says eyevis, with all orders…

HC thwarts Reliance naval’s attempt to avert insolvency – Economic Times

BankruptcyBy Insolvency GuardianDecember 8, 2017

, ET Bureau| Updated: Dec 08, 2017, 10.56 AM IST The insolvency petition aims to recover dues worth Rs 159 crore, including invoking a corporate guarantee. Mumbai: The Bombay HC has scuttled a last ditch attempt by the Anil Ambani company Reliance Naval and Engineering to prevent proceedings in the bankruptcy court, dismissing a petition…

Pledge for crypt consultation before excavation – The Queensland Times

BankruptcyBy Insolvency GuardianDecember 8, 2017

CONSULTATION will occur with the family of a politician buried in an underground crypt after concerns about its future. An “extremely rare tomb containing Joseph Fleming and his wife, Phoebe, was located at the Ipswich General Cemetery. The Ipswich City Council planned to engage a university’s archaeological faculty and had secured the voluntary services of…

Japanese Gaming’s Incredible Comeback Story – Kotaku Australia

BankruptcyBy Insolvency GuardianDecember 7, 2017

With Puyo Puyo‘s release in 1991, Masamitsu Itani became one of the most successful game company presidents in Japan. Then everything went bust. But just as Itani lost everything, he didn’t lose his will to keep making games.

As Yanukovych Fell, Regime-connected Bank Sent Millions Offshore – OCCRP

BankruptcyBy Insolvency GuardianDecember 7, 2017

Its been almost four years since Viktor Yanukovych, Ukraines former president, fled the country after the Euromaidan revolution. But the new governments investigators have so far been unable to establish how much money his rule has cost the country — or where it went. Credit: Pivdenkombank web site There has been even less progress punishing…

Silent MP’s crypt unearthed in Ipswich cemetery – The Sydney Morning Herald

BankruptcyBy Insolvency GuardianDecember 7, 2017

Studies on an underground crypt which opened up in an unmarked grave in Ipswichs General Cemetery have revealed the body of one of Queenslands first parliamentarians. The body of 1860 West Moreton MP Joseph Fleming and his wife, Phoebe Fleming, have recently been identified in the very rare igloo-shaped underground burial crypt. West Moreton MP…

Crypt holds secrets of first Queensland representative – The Queensland Times

BankruptcyBy Insolvency GuardianDecember 6, 2017

CONTAINED in the newly-discovered crypt is a man with a life story littered with difficulty. Joseph Fleming was born in New South Wales in 1811 before moving to Queensland in 1848. In September 1850 at Ipswich he bought town lots on which he established a boiling-down works, sawmill and flour mill. Mr Fleming was also…

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