Section 44 of the Constitution sets out restrictions on who can be a candidate for federal parliament. Five subsections make clear what disqualifies people, but its article one that tripped up the two Greens, government minister Matt Canavan, One Nation senator Malcolm Roberts and deputy prime minister Barnaby Joyce. It rules out anyone with allegiance, obedience,…
On August 9, the Allahabad bench of National Company Law Tribunal (NCLT) admitted an insolvency plea of IDBI Bank relating to default of Rs 526.11 crore loan by Jaypee Infratech in its Wishtown project in Noida. NCLT has appointed Anuj Jain as the Interim Resolution Professional (IRP) to carry out the proceedings under the Insolvency…
Hundreds of homebuyers of Jaypee Infratech Group decided legal and political action on Tuesday after the private housing major in Noida teetered on the brink of insolvency. Around 500 of them gathered at a park in Sector 15A to chalk out a plan after the National Company Law Tribunal admitted the insolvency petition filed by…
Air Berlin has filed for insolvency and is in discussions with Lufthansa and the German government to rescue parts of its business, after its largest shareholder Etihad said it would not provide any further funding for the struggling airline. Germanys second-largest carrier has struggled to compete with low-cost rivals and has been kept in the…
By Richard Weiss and Tom Lavell August 15, 2017, 7:19 AM EDT August 15, 2017, 8:18 AM EDT Air Berlin Plc filed for insolvency after leading shareholder Etihad Airways PJSC withdrew its financial support, marking the second failure of a major European airline in four months after the Persian Gulf carrier pulled the plug on…
The fifth progress report on the insolvency of retail FX broker Alpari (UK) shows the special administrators have paid a total of $77.9 million from the client money pool in respect of 13,644 clients. The joint special administrators (JSAs) from KPMG have just published their fifth progress report into the case of Alpari (UK), one of…
Image copyright Reuters Air Berlin, Germany’s second-largest carrier, has filed for insolvency, after its main shareholder Etihad declared it would not be providing further financial support. The airline, which has accumulated debt for almost a decade, reported a record loss of 782m euros (£713m) in 2016. Flights will continue to operate thanks to a transitional…
Retired solicitor Brian ODonnell, formerly of Gorse Hill, Vico Road, Killiney, Co Dublin, is set to exit bankruptcy later this month. Mr ODonnell and his wife Mary Patricia were adjudicated bankrupt by the High Court in August of 2013. That finding was confirmed by the Supreme Court in February 2015. In July 2016 the ODonnells…
Board meet was slated for August 11 Hyderabad, Aug 15: With the suspension of powers of the board of directors of Lanco Infratech Limited under the insolvency resolution proceedings, the results of the company will be submitted by Savan Godiawala, who has been appointed as the interim resolution professional. The company had earlier informed the…
Legal experts have mixed opinions on the insolvency proceedings against the Jaypee Infratech with regard to the safety of buyers investments. A section of experts said that the insolvency proceedings against the Jaypee Infratech following the National Company Law Tribunal (NCLT) order will benefit around 30,000 homebuyers and it would give them a chance to…