The Insolvency and Bankruptcy Board of India (IBBI), which is implementing the Insolvency and Bankruptcy Code, has said owner of undelivered properties can become part of the committee of creditors and stake a claim equivalent to the amount they have paid to realtors. Their claims, according to the regulator, would be treated on…
By Kate Thomas for MailOnline Published: 17:29 +10:00, 18 August 2017 | Updated: 18:03 +10:00, 18 August 2017 e-mail 3 View comments They’re holidaying in Ibiza as a family following a difficult year, which has seen the former tennis ace declared bankrupt and the couple face rumours of a marital rift. But Lilly Becker was…
A dispute over Indian sandalwood producer Santanol Group has pitted 21 Western Australian investors, led by forestry veterans Bob Bunning and Tony Jack, against private equity giant KKR and its local representatives, including Jock Clough and incoming Wesfarmers executive Ed Bostock. At stake is control of an established sandalwood producer with 2,100 hectares of plantations,…
Eric Charbonneau/REX Shutterstock A hedge fund investor who loaned $2 million to Relativity Media just before it went bankrupt now claims he was swindled out of the money. Carey Metz, chief investment officer of Atorus Investment Management, filed suit on Thursday in L.A. Superior Court, accusing Relativity founder Ryan Kavanaugh of fraud. Metz alleges that…
By: ENS Economic Bureau | New Delhi | Published:August 18, 2017 4:27 am The government has introduced a new form under the insolvency law to enable a person who has to receive a payment from an insolvent company to seek the claim. This will enable persons such as homebuyers to make claims for undelivered flats…
The festival, which will be “smaller and in a different location,” had been run by the troubled events firm Meubel Stukken. This year’s edition of the Amsterdam festival Valtifest will go ahead despite declaring itself bankrupt at the start of the month. Ownership of Valtifest has been transferred from the events brand Meubel Stukken to…
The festival, which will be “smaller and in a different location,” had been run by the troubled events firm Meubel Stukken. This year’s edition of the Amsterdam festival Valtifest will go ahead despite declaring itself bankrupt at the start of the month. Ownership of Valtifest has been transferred from the events brand Meubel Stukken to…
DECEIT: Steve Josifovski thought he could trust his old school friend Lemuel Page, but eventually became just another of the con man’s many victims. Inset: Page and his then wife Fiona at a Josifovski family function in happier times. EVEN now, years later, Steve Josifovski doesnt want to believe he was ripped off. After all,…
A person who has to receive a payment from an insolvent company can now seek the claim under the insolvency law as the revised regulations have enabled owners of undelivered flats to get relief. Till now, only financial and operational creditors were permitted to seek claims under the Insolvency and Bankruptcy Code (IBC). The revised…
Vandana Ramnani Moneycontrol News With the Real Estate (Regulation and Development) Act 2016 (RERA) tightening the noose around the developer community, some of them may have found liquidation proceedings or the bankruptcy law as an avenue to escape the ambit of the state regulator, say legal experts. Insolvency cases are likely to go up going…