Beena Parmar Moneycontrol News Debt in the balance sheets of most public sector banks may not get drastically reduced as bankers expect less than 50 percent recovery of the loans under insolvency. A month after the insolvency and bankruptcy process kick-started, three companies — Jyoti Structures, Monnet Ispat and Energy and Alok Industries — have been…
No easy way beck Becker won Wimbledon at the age of just 17 in 1985, but now finds himself legally bankrupt BORIS BECKERS sad decline is complete after he was declared legally bankrupt. The German was one of the most talented tennis players of his generation, and a successful coach. Getty Images Boris Becker has…
Former German tennis star Boris Becker said he was “surprised and disappointed” after being declared bankrupt by a court in London for failing to pay a “substantial” long-standing debt. Lawyers for the three-time former Wimbledon champion pleaded with a Bankruptcy Court registrar to allow Becker a “last chance” to pay off the debt which dates…
The preliminary insolvency administrator of SolarWorld AG, attorney at law, Horst Piepenburg, has given details about the current situation regarding preliminary insolvency proceedings. During preliminary insolvency proceedings, the company not only processed and sold existing inventory goods, but was also able to generate new business opportunities in the low double-digit million range. This allowed production…
KIEV, July 20 (Reuters) – Ukraine’s central bank said on Thursday it had withdrawn the right to formally audit the country’s banks from the Ukrainian unit of the international accounting firm PwC. PwC Ukraine had audited the largest Ukrainian bank, PrivatBank, which Ukraine took over in December after risky lending practices left it with a…
By Reuters Published: 06:09 +10:00, 21 July 2017 | Updated: 06:09 +10:00, 21 July 2017 e-mail By Natalia Zinets and Matthias Williams KIEV, July 20 (Reuters) – Ukraine’s central bank said on Thursday it had withdrawn the right to formally audit the country’s banks from the Ukrainian unit of the international accounting firm PwC. PwC…
PwC suffered the latest blow to its reputation late on Thursday when Ukraines central bank announced it had pulled its domestic bank auditing rights for failing in prior audits to identify a $5bn balance-sheet hole at PrivatBank, the countrys largest lender. The big four accounting group, which has denied such claims in the past, had…
MUMBAI/KOLKATA: Innoventive Industries, Indias first company to be tried under the new Insolvency and Bankruptcy Code, has failed to finalize a debt resolution plan in the stipulated six months, prompting the National Company Law Tribunal (NCLT) to extend the deadline by another three months – the maximum permissible before liquidation. If the company fails to…
By Edwin Okoth The government is set to let go of its shareholding in Uchumi Supermarkets once the troubled retailer stabilises under the ongoing bailout and restructuring plan. Trade Principal Secretary Chris Kiptoo yesterday said the shareholding exit will come after the government recoups taxpayers’ funds pumped into the company over the years. Uchumi is…
”The Corporate Commercial Bank” case went to the court. Tzvetan Vassilev and 17 other bankers and financiers will stand on the dock, reported bTV. Early this morning, 12,000 pages of indictment had been moved from the offices of the Prosecutor’s Office to the Special Criminal Court. Vasilev was the majority owner of Corporate Commercial Bank (Corpbank or KTB), which…