Enterprise cloud giant Salesforce.com has been caught in the collapse of private training provider Careers Australia Group and potentially more technology suppliers, big and small, might be wandering in the debris field. Careers Australia entered voluntary administration in May shortly after it was stripped of accreditation for federal funding support. Administrator PPB has so far…
Becker struck the deal in 2013, partly brokered by a Nigerian employee of his But the investments tanked and last month he was declared bankrupt His lawyer told a London court that he is not financially ‘sophisticated’ Becker is bankrupt, and owes undisclosed sums to London bankers By Daily Mail Reporter Published: 07:47 +10:00, 17…
KOLKATA | MUMBAI: As banks try and resolve the bad loans that have burdened the industry, insolvency professionals stand to get a big career boost. Chartered accountants, cost accountants and company secretaries are said to be rushing to get themselves qualified in hundredsand this is just the beginning. If the bankruptcy process unfolds as its…
MUMBAI: Wind energy solutions provider Inox Wind (IWL) is challenging the National Company Law Tribunals Chandigarh bench order on insolvency, claiming it is solvent and in “excellent” financial health. ET had exclusively reported on Saturday that NCLT passed an order on July 5, clearing way for the insolvency of the company after an ‘operational creditor’…
Inox Wind Limited (IWL), which is facing insolvency proceedings over unpaid dues of Rs 57 lakh to its Customs agent, has asked the National Company Law Tribunal (NCLT) to quash the case. “IWL has preferred an appeal before the National Company Law Tribunal (NCLT), praying that the said proceedings be quashed. The matter…
NEW DELHI: The Insolvency and Bankruptcy Code has segregated judicial and commercial aspects of the insolvency process whereby stakeholders have the right to decide on what suits them, IBBI chairperson M S Sahoo said today. The Code, which became operational in December last year, provides for a market-determined and time-bound insolvency resolution process. The Insolvency…
Are you a convicted criminal? A former bankrupt? Someone banned from holding a liquor licence in Victoria for 15 years? Is your business partner a member of a notorious outlaw motorcycle gang? Are you currently facing serious criminal charges? If the answer is “yes” to the above, then a career in real estate could still…
Insolvency and Bankruptcy Board of India (IBBI) Chairperson M S Sahoo said on Saturday mergers and acquisitions might increase under the code governing the sale of assets of companies unable to repay debt. The Insolvency and Bankruptcy Code (IBC) has been in the news since the Reserve Bank of India issued directions to…
Once the youngest player to have won the Wimbledon mens singles championship, 49-year-old German-born tennis star Boris Becker was declared insolvent by a British Bankruptcy and Companies Court at the end of last month. Becker, who, according to news reports, at one time boasted an estimated personal fortune of over £100million (R1.7billion), is not the…
AHMEDABAD: The Gujarat High Court on Friday reserved its order for Monday on Essar Steel‘s plea against the June 13 RBI circular to banks to act under Insolvency and Bankruptcy Code against the steel major and eleven other firms with over Rs 5,000 crore of outstanding loans each. A bench of Justice S G Shah…