The National Company Law Tribunal (NCLT) bench here has ordered initiation of the corporate insolvency resolution process in respect of Basmati rice exporter REI Agro, which was allegedly involved in a bank loan fraud, the company said on Tuesday. “..pursuant to filing of an application by Surendra Kumar Joshi, an operational creditor of the…
The couple had 12m in debt written off in exchange for a one off payment of 145,000, under the terms of the scheme. The bulk of the money will go to biggest creditor Dunbar Assets, formerly Zurich Bank, and to Revenue. Other creditors will get just cents in the euro under the scheme. Under the…
MUMBAI: Creditors of REI Agro, also tagged as a wilful defaulter by lenders, have initiated corporate insolvency resolution process against the company under the new Bankruptcy and Insolvency Law. The company, which has an outstanding loan of Rs 5200 crore has informed the stock exchanges that Surendra Joshi, an operational creditor, has filed an application…
ROSS GIBLIN/FAIRFAX NZ Duke Carvell’s was a restaurant and bar in Swan Lane, Wellington. The owner of Duke Carvell’s has been made bankrupt – almost a year to the day since he closed the doors on the once popular Wellington restaurant. Michael Taylor Cole was declared bankrupt in the Wellington High Court on Tuesday, following an application by…
File photo. A VIETNAMESE-Australian who racked up $220,000 in debt to gambling associates while playing blackjack at Crown Casino claims he started operating a cannabis grow house to help pay back the money. Van Ri Nguyen, 60, pleaded guilty in the Bendigo County Court on Monday to a charge of cultivating a commercial quantity of cannabis,…
The Islamic College of South Australia has just $1.30 left in the bank and a $200,000 debt, but its new principal will make a last-ditch attempt to save the Adelaide school from closure. Kadir Emniyet has been in the role for five days and says the school at West Croydon has three bank accounts…
Hanjin Shipping, once South Koreas largest shipper, is set to be delisted from the local bourse on March 7, while newly established SM Line Corp. will begin its first service on Mar. 8. Shares of Hanjin Shipping closed at 12 won (US$0.01) on March 6, plunging 68 percent from the previous trading day. It was…
MAARTEN HOLL/FAIRFAX NZ Helen Marie Kemp, right, at her sentencing in September 2014. Convicted fraudster Helen Marie Kemp is back in court, months after being released from jail. The former bank manager was sentenced to two years and one month in jail in September 2014, for stealing money from elderly clients and friends. Based on…
A MARRIED couple who run The Convent have been accused of not paying performers on time, have had dozens of now dissolved or liquidated companies under different names and have both been declared bankrupt, it has emerged. Last year the SNJ reported on claims from former employees at the music venue, boutique hotel and private…
Egalet Corporation (NASDAQ:EGLT) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement. Open a TradeKing Account and Get $1,000 in Free Trade Commissions   On February 28, 2017, Egalet Corporation (the Company) and its wholly-owned subsidiaries, Egalet Ltd. and Egalet US Inc. (collectively with the Company, Egalet), entered into a…