KOLKATA: Burn Standard, India’s largest railway wagon manufacturing company in West Bengal, said on Wednesday that it cannot cover its debts and has filed for insolvency last month. “For about 23 years, we were trying to bring back the company’s lost glory. But even after all our efforts the company couldn’t clear long pending debt.…
Kolkata-based steel company Ramsarup Industries has filed for insolvency in an attempt to restructure its finances. The company has filed for insolvency under the Insolvency and Bankruptcy Code (IBC), 2016, which was brought in to ensure timely restructuring of companies and help banks recover loans. The company has a debt of around Rs 2,000…
Firm Appointee/Solicitor Role Company Name Published Date Deloitte Jason Tracy administrator India Resources Limited 6/06/2017 RSM Gregory Bruce Dudley liquidator Accent Granite Pty Ltd 6/06/2017 Ticcidew Insolvency Simon Roger Coad liquidator Westoz Racking Installations Pty Ltd 6/06/2017 Worrells Solvency & Forensic Accountants Mervyn Jonathan Kitay administrator Passione Toscana Pty Ltd 6/06/2017 Sheridans Jennifer Elizabeth Low…
When the Centre constituted the insolvency and bankruptcy board, the intention was timely restructuring of a companys finances. Six months since the initial cases were filed, some corporates have willingly chosen the code, while others have resisted the proceedings. The Insolvency and Bankruptcy Board of India (IBBI) chairman M S Sahoo,…
Its believed the Palermo prosecutors office has opened a preliminary investigation which could lead to the club being declared bankrupt. The Rosanero ended the Serie A season in chaos, with President Maurizio Zamparini stepping down and sporting director Nicola Salerno resigning. Paul Baccaglini took over as President, but the ale of the club to a…
A candidate contesting the Kerowagi Open Seat in Simbu province has been declared insolvent or bankrupt by the National Court recently.Bari Palma couldn’t pay legal costs to current MP Camilus Dangima totaling K275,000 after loosing his 2012 election case.Lawyer, Martin Kombri representing Mr Dangima relayed the court’s decision last Thursday to NBC News.He says this…
Sandbanks, in Dorset, boasts the fourth-highest land value in the world It is also the most expensive place to buy a coastal home in the UK Businessman Richard Carr, 58, wants to build apartments and a huge hotel there The plans have drawn the ire of residents who fear the plan will ‘ruin the skyline’…
Fiscal Crisis: On the surface, Illinois and Puerto Rico would seem to have next to nothing in common. But in fact there’s quite a lot, especially when you look at the recent dire economic, fiscal and population trends for both. Both the Midwestern state and the U.S. island commonwealth are hemorrhaging citizens, with thousands leaving. Perhaps…
Bari Palma, a candidate for the Kerowagi Open Seat, was declared insolvent (bankrupt) by the National Court on June 1, 2017. This decision was based on Palma failing to pay the taxed costs of an unsuccessful election petition he had filed previously against the sitting MP, Camillus Dangima Bongoro. According to court documents, Palma owes…
The money owed to Alma and Merso Halilagic by bankrupt builder Watersun Homes could have bought the couple a new Porsche Boxster. But they don’t have the luxury of being able to turn their backs on the $155,000 debt. “We have to pay for our materials,” said Mrs Halilagic who, with her husband, runs a…