MUMBAI/KOLKATA: Resolution professionals, a key constituent of bankruptcy proceedings under Indias new law, are caught between term loan lenders who want sick companies to be liquidated and working capital lenders who favour restructuring the company, four people dealing with resolution of sick companies told ET. The trouble might be that the law does not make…
By Eve Buckland For Mailonline Published: 03:08 +10:00, 2 July 2017 | Updated: 03:41 +10:00, 2 July 2017 e-mail 2 View comments She’s had a rough few weeks after her tennis superstar husband was declared bankrupt. And a casually clad Lilly Becker, 41, looked pensive as she left an alfresco lunch in Ibiza before heading…
NET LOSS Former ace, 49, not having much luck at the moment BORIS Becker has a parking ticket slapped on his sports car just days after it was towed away. The penalty was visible on the windscreen of his £65,000 blue Maserati as the tennis ace, who was declared bankrupt last week, visited a London private…
The former Wimbledon champion amassed tens of millions in his tennis career He was recently declared bankrupt after failing to repay a £3million bank loan Becker, 49, wore a red, black and white Puma training top and cap to the gym Earlier this week, two of Becker’s sports cars were slapped with parking fines By…
By Shinovene Immanuel Leaders at the broke TransNamib threatened to cut jobs and declare bankruptcy earlier this year in what appears to be blackmail to arm-twist government into paying N$240 million as bailout. This is according to details contained in confidential documents of a board meeting dated 23 February 2017. The meeting took place when…
A charity that looked after the state’s most traumatised children 24 hours a day in return for millions of dollars in public funding subcontracted large parts of its operations to a company co-directed by a convicted murderer. The agreement has been revealed in a creditors report obtained by Fairfax Media, which found the financially troubled Guardian Youth Care charity had faced allegations…
MUMBAI: Essar Steels insolvency proceedings could turn into a test case for Indias bankruptcy framework with lenders differing on the choice of the so-called interim resolution professional (IRP), the entity that will oversee the exercise, according to two people with knowledge of with the matter. One of these is an unsecured lender and has apparently…
LEADERS at the broke TransNamib threatened to cut jobs and declare bankruptcy earlier this year in what appears to be blackmail to arm-twist government into paying N$240 million as bailout. This is according to details contained in confidential documents of a board meeting dated 23 February 2017. The meeting took place when the company only…
Salim Mehajer has lost his urgent court bid to remove administrators appointed to two of his companies, as creditors clamour for almost $100 million from the property developer and former deputy mayor. In a decision delivered on Friday afternoon, Supreme Court Justice Stephen Robb declared administrators were validly appointed to Mr Mehajer’s companies Sydney Project…
UAE Sheik failed to pay for renovation of iconic King Edward, claims builder The controversial foreign owner of Port Elizabeths iconic King Edward Hotel has been accused of allegedly failing to pay more than R1-million worth of bills for renovation work on the hotel. Port Elizabeth attorney Lunen Meyer confirmed yesterday that he had…