MUMBAI: Indian banks and companies have filed claims worth Rs 4,089 crore in the past three months under the Insolvency and Bankruptcy Code, which seeks to ensure time-bound settlement of insolvency. The code that came into effect in December has given the lenders a new tool to counter the problem of rising non-performing assets (NPAs),…
One of three companies taken to court by the government over unpaid ground rent for the Casino di Venezia site in Vittoriosa has been declared bankrupt by a court and is to be liquidated. The company, Vittoriosa Gaming Ltd (VGL) also owns all the shares in another of the companies that are…
‘they just dont care’ Stephen Kinsella lost his security business and a job as a truck driver in 2008 when the recession hit A MAN who owed 500,000 in loans has said he understands how some people are pushed to suicide by the banks. Stephen Kinsella, 46, lost his security business and a job as…
Chequebook kept in pocket: Transport Minister Shane Ross Picture: Arthur Carron An all-out indefinite strike at Bus Éireann that would have affected 110,000 passengers a day from Monday has been deferred after the company pledged that “funds will be available” for a voluntary severance scheme and it will negotiate with unions on a pay rise.…
Bus Éireann may sell assets including property to part fund a voluntary redundancy scheme for staff as part of a revised survival plan for the company. Bus Éireann believes the board of its overall parent holding group, CIÉ, will provide it with additional funding in the short term if it produces a viable plan to…
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A wheel relief NBRU’s General Secretary Dermot OLeary said ‘in deference to the Workplace Relations Commission’ the work stoppage is now halted AN all-out strike at Bus Eireann due to kick off on Monday has been called off. The NBRU have accepted invitation to talks on the transport companys financial crisis. A Bus Eireann strike…
Published March 3. Updated March 3 at 11:45 am A man passes by the National Bank of Ukraine in Kyiv on Dec. 7, 2016. Photo by Volodymyr Petrov Popular on social media The National Bank of Ukraine (NBU) on March 3 declared Vector Bank (Kyiv) insolvent, the central bank has reported on its website. Decision…
NORTHERN Rivers residents are starting to pay off their debts as new figures revealed less people declared bankruptcy in 2016. The latest figures from the Australian Financial Services Authority showed 35 bankrupt debtors including nine business-related and 26 non-business related insolvencies in the December quarter. Over the whole year 158 people declared bankruptcy compared with…
Published on Wed, Nov 04,2015 | 23:06, Updated at Wed, Nov 04 at 23:06Source : Moneycontrol.com Following is the Summary of the Recommendations of the Bankruptcy Law Reforms Committee (BLRC) The Report of the BLRC is in two parts:i. Rationale and Design/Recommendations;ii. A comprehensive draft Insolvency and Bankruptcy Bill covering all entities. The draft Bill…