The Kolkata Bench of the National Company Law Tribunal (NCLT) has ordered for initiation of an corporate insolvency resolution process against distressed rice exporting company, REI Agro, based on an application filed by an operational creditor. REI Agro has, in the past few years, faced litigation across multiple fora for not only having defaulted in the payment…
Gary OFlynn, a former Cork councillor who was jailed two years ago for soliciting a hitman to kill a garda, a Revenue official and an accountant, has been declared bankrupt in the High Court. In 2015, the son of former Fianna Fail TD Noel OFlynn was given a five-year sentence, with the final two suspended,…
Akanksha Jain New Delhi March 11, 2017 22:56 IST Updated: March 11, 2017 22:56 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 =…
More than a fifth (22%) of East of England adults say that their personal or household finances are currently affecting their mental health, according to a survey of over 2,000 British adults by insolvency and restructuring trade body R3 and market research company ComRes. The R3 research revealed that other key causes affecting mental health…
Today, shortly after receiving an award from the Cleantech Group for North American company of the year (yet another kiss of death), Aquion declared bankruptcy. Aquion raised a total of $190 million in venture capital and debt for its saltwater batteries intended for long-duration storage. The company also raised a lot of hype. The startup…
The number of people going into a type of personal insolvency known as “bankruptcy light” has risen during the first three months of 2016 in official figures released on Friday. The Insolvency Service said 6,722 debt relief orders were taken out between January and March across England and Wales – marking a 3.4% increase compared…
The much-awaited new bankruptcy law in the United Arab Emirates is a complete legal framework designed to help financially troubled companies to avoid collapse. The new law took effect on December 29 2016 after being decreed by President Sheikh Khalifa. It is part of the global wave of insolvency reform referred to as the ‘rescue…
KUALA LUMPUR: Fewer Malaysians will be declared bankrupt if proposed amendments to the Bankruptcy Act 1967 are passed as it will protect social guarantors.s Minister in the Prime Ministers Department Datuk Seri Azalina Othman Said said Malaysia had a lot of social guarantors who were declared bankrupt by the substitute service system currently in place.…
KUALA LUMPUR: A total of 1,093 civil servants were declared bankrupt last year, as compared to 960 in the previous year, the Dewan Rakyat was told today. Minister in the Prime Minister’s Department Datuk Seri Azalina Othman Said said 3,276 civil servants were declared bankrupt between 2013 and 2016. She was responding to a question…
KUALA LUMPUR: A total of 1,093 civil servants were declared bankrupt last year, as compared to 960 in the previous year, the Dewan Rakyat was told today. Minister in the Prime Minister’s Department Datuk Seri Azalina Othman Said said 3,276 civil servants were declared bankrupt between 2013 and 2016. She was responding to a question…