EMBATTLED law firm Slater & Gordon (ASX: SGH) has called on its shareholders to vote in favour of a recapitalisation of its “unsustainable debt levels” otherwise it will become insolvent. Slater & Gordon says it owes a total of $761 million, as of 30 June 2017, which it cannot pay down and the debt…
State-owned Andhra Bank has dragged Housing Development & Infrastructure (HDIL) to the National Company Law Tribunal (NCLT) in an insolvency petition because the Mumbai-based real estate developer failed to pay back Rs 55 crore invested by the bank in the company’s non-convertible debentures (NCDs). The petition filed by law firm MDP & Partners on behalf…
By Ginger Gibson and David Gaffen Puerto Rico governor calls for cancellation of Whitefish contract WASHINGTON/NEW YORK (Reuters) – Puerto Rico’s government power company said on Sunday it will cancel a $300 million contract with a tiny Montana company to restore power to the storm-hit U.S. territory after an uproar over the deal. The contract…
By Ginger Gibson and David Gaffen WASHINGTON/NEW YORK (Reuters) – Puerto Rico’s government power company said on Sunday it will cancel a $300 million contract with a tiny Montana company to restore power to the storm-hit U.S. territory after an uproar over the deal. The contract between Whitefish Energy Holdings and Puerto Rico’s bankrupt power…
LONDON (Reuters) – The number of people registering as insolvent in England and Wales hit a five-year high in the third quarter, according to figures on Friday that hinted at trouble brewing in Britains consumer economy. FILE PHOTO: People walk across Westminster Bridge in London, Britain, June 22, 2017. REUTERS/Marko Djurica The governments Insolvency Service…
Coimbatore, October 29: The time taken and costs involved in resolving disputes have crippled the entrepreneurial community in India. Statistics show that the recovery is only 20 per cent in India and in global ranking, the country is in the 136th position with respect to the time taken for resolving disputes. China is in the…
Top global players including Tata Steel, Essar Group and ArcelorMittal are learnt to have submitted bids to acquire debt-laden Essar Steel which is going through the insolvency resolution process. Essar Steel India Ltd, an integrated steel producer with an installed capacity of 10 million tonne per annum (MTPA) is undergoing Corporate Insolvency Resolution Process (CIRP)…
New Delhi: Top global players including Tata Steel, Essar Group and ArcelorMittal are learnt to have submitted bids to acquire debt-laden Essar Steel which is going through the insolvency resolution process. Essar Steel India Ltd, an integrated steel producer with an installed capacity of 10 million tonne per annum (MTPA) is undergoing Corporate Insolvency Resolution…
TAMIL NADU Staff Reporter Coimbatore, October 27, 2017 00:00 IST Updated: October 27, 2017 03:52 IST “; var device = “”; for ( var type in WFClientTypeDef) { if (window.matchMedia(WFClientTypeDef[type]).matches) { switch (type) { case “xlarge”: device = ‘desktop’; break; case “large”: device = ‘desktop’; break; case “medium”: device = ‘tab’; break; case “small”: device…
The former trustees of Kids Company are seeking to avoid court action by agreeing to voluntary boardroom bans in the aftermath of its collapse. Sky News has learnt that lawyers for a number of the charity’s ex-directors are in talks with the Government’s Insolvency Service about giving formal undertakings not to serve as company directors…
