THE ROAD Transport industry has reached out in support of the drivers who recently lost their jobs in the liquidation of Alstonville based company Flynn Transport. In response to the news of the insolvency that left over 60 heavy vehicle workers out of a job, a number of NSW companies have put their hands up…
India’s incipient battle against bankruptcy is spawning new ideas – and career options. After India enacted tougher laws to deal with sticky loans and the central bank stepped in accelerate the pace of recoveries, finance executives have stumbled upon a career-growth opportunity based, ironically, on insolvency. Independent insolvency professionals (IPs), are becoming critical for the…
Ahmedabad/Mumbai: Essar Steel Ltd has approached Gujarat high court on Tuesday, challenging the insolvency proceedings initiated against it at the National Company Law Tribunal (NCLT). A communique from the company said that the HC will further hear its petition on July 7. While no further official details are available, an executive close to the company…
Tennis legend Boris Becker went on a Twitter rant to insist that he is not bankrupt, despite bankruptcy proceedings being brought against him when he failed to pay millions of dollars of debt. The 49-year-old, three-time Wimbledon champion claims to be “surprised and disappointed” and also that he has the “means to repay this debt.”…
Written by ENS Economic Bureau | Mumbai | Published:July 5, 2017 3:12 am According to the NCLT order on Tuesday, the board of directors of Jyoti will be suspended and consultancy firm BDO would manage the company. The National Company Law Tribunal (NCLT) has decided to initiate bankruptcy proceedings against debt-laden Jyoti Structures under the…
Lavan has appointed six lawyers to new positions in the firm, with a litigation expert welcomed to the partnership. Cinzia Donald was made the newest partner of the regional firms litigation and dispute resolution team. Acting for public and private companies and high-net-worth individuals, she manages complex commercial litigation in superior jurisdictions, including the Supreme…
NEW DELHI: Essar Steel has moved the Gujarat High Court against insolvency proceedings initiated by the banks on the direction of the Reserve Bank (RBI). The high court issued notice to the RBI and leader of the banking consortium SBI and posted the matter for Friday, sources said. When contacted, a company spokesperson said: “Essar…
Piyush Pandey MUMBAI, July 04, 2017 20:32 IST Updated: July 04, 2017 20:32 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 = ‘mobile’;…
By Rebecca Lawrence For Mailonline Published: 00:37 +10:00, 5 July 2017 | Updated: 00:45 +10:00, 5 July 2017 e-mail View comments She’s been keeping a low-profile since it emerged her husband had been declared bankrupt. But Lilly Becker, 41, made a bold fashion statement in a scarlet mini dress on Tuesday as she enjoyed some…
Mumbai: The National Company Law Tribunal (NCLT) on Tuesday approved bankruptcy proceedings for power infrastructure company Jyoti Structures Ltd, making it the first among the 12 cases referred by the central bank under India’s new Insolvency and Bankruptcy Code (IBC). The tribunal’s order came on an insolvency application filed last week by the company’s lead lender State…