NEW DELHI: The working group constituted by the Insolvency and Bankruptcy Board of India has laid out draft regulations for repayment plan for individuals and firms declaring insolvency, providing a framework for resolution of personal insolvency. According to the draft regulations, the plan should include among other things the duration of repayment, implementation schedule and…
Japan’s renewed market rally has taken stocks to the highest levels in more than two decades Wednesday and prompted a sardonic response from one of the financial market’s most notorious criminals. Nick Lesson, the infamous “Rogue Trader” who brought down Britain’s Barings Bank, the country’s oldest lender, after a complex fraud of fictitious transactions, phantom accounts and…
The Supreme Court has come out with another important verdict in the Kirusa Software Private Limited v. Mobilox Innovations Private Limited case, after its landmark decision in the case of Innoventive Industries. This judgement has clarified the meaning of the phrase existence of dispute found under Section 8 (2) of the Insolvency and Bankruptcy Code,…
Economy Wednesday, October 11, 2017 9:24 By CAROLINE LICHUMA Businessman and presidential candidate Cyrus Jirongo. FILE PHOTO | NMG Insolvency law largely puts politician at the mercy of a trustee with respect to which property will be repossessed for the purposes of paying his debts. Reports that the High Court has declared former Lugari…
drainspotting The Holyrood boxing gym owner, 46, was hit by Scottish Water for the clubs tab T2 Trainspotting star Bradley Welsh has been declared bankrupt over a four-figure water bill. The Holyrood boxing gym owner, 46, was hit by Scottish Water for the clubs tab. Michael Schofield – The Sun Glasgow Welsh is bankrupt over…
Rachel Chitra | TNN | Oct 11, 2017, 04:00 IST Chennai: VA TECH WABAG, a water treatment solutions company, has filed an appeal with the National Company Law Appellate Tribunal (NCLAT) after insolvency proceedings were initiated against it at the National Company Law Tribunal (NCLT), Chennai bench, by Consolidated Construction Consortium (CCCL). The company clarified…
The regulations come under the Insolvency and Bankruptcy Code. New Delhi: The Insolvency and Bankruptcy Board on Tuesday sought comments from the public on draft norms for insolvency resolution process for individuals running businesses and personal guarantors. Comments have been sought on draft regulations pertaining to insolvency resolution process for individuals and firms. Views have…
Employees of Ilva steel staged 24-hour strike over plans to cut about 4,000 jobs when ArcelorMittal takes over.
The Prague-AST company owes more than 19.9 billion rubles. The Arbitrazh Court declared the Prague-AST company, which owns the Prague restaurant in Moscow, bankrupt, and is a part of former owner of Cherkizovsky market Telman Ismailovs AST group of companies. RIA Novosti reported this. By the court’s decision, the company initiated…
Nufam president Ismail Nasaruddin says human resources minister has failed to defend the rights of 3,600 retrenched workers. PETALING JAYA: A union today asked if Malaysia Airlines was ever declared bankrupt, following Human Resources Minister Richard Riots claim that 3,600 retrenched workers could not seek any claims or justice through the court because the airline…
