Ministers have sent in a taskforce to oversee Croydon council after an audit report revealed the Labour-run authority is on the verge of bankruptcy following a string of risky property investments and a failure to keep control of social care budgets. Auditors heavily criticised the south London council for ignoring more than three years of…
A SNOOKER club has been ordered to pay 4,500 to a employee of more than ten years who was made redundant at the start of the Covid-19 lockdown without pay. Clacton Snooker Centre told Zella Davis, 60, they could not afford to pay her and reclaim furlough pay, so had to end her employment. The…
Solicitor General Tushar Mehta, appearing for State Bank of India (SBI), has also said that the issue raised in the writ petitions pending before different high courts is of national importance and does not affect any rights of the petitioners. The Supreme Court on Thursday transferred to itself a batch of writ petitions pending before…
NEW DELHI : The Supreme Court Wednesday said it would pass orders on a batch of pleas filed by Insolvency and Bankruptcy Board of India (IBBI) seeking transfer of all petitions pending before different high courts challenging the provisions of IBC with regard to personal insolvency. A bench of Justices L N Rao, Hemant Gupta…
Throughout the coronavirus crisis, CBS is providing weekly updates on the number of bankruptcies pronounced by Dutch courts. The weekly updates are normally released on Thursdays at 12.00 p.m. Not including sole proprietorships, there were 42 bankruptcies in week 43, 2 more than in week 42. In addition, 4 sole proprietorships were declared bankrupt, 2…
NEW DELHI: The Supreme court on Thursday transferred all petitions, pending in various high court of the country, challenging provisions of personal insolvency under the Insolvency and Bankruptcy Code (IBC) to itself. High courts have been directed to not to entertain any more writ petitions on this issue. The order was passed by an apex…
10:58 29/10/2020 MOSCOW, October 29 (RAPSI) The Supreme Court of Russia has dismissed an appeal of ex-owner of Promsvyazbank Dmitry Ananyev against a ruling declaring him insolvent, according to court records. Ananyev was declared bankrupt by the Ninth Commercial Court of Appeals in mid-June upon an application of the Cereal Company Nastyusha. The appeals instance…
Almost two-thirds of all businesses could be at risk of insolvency, according to official figures that reveal the UK could suffer a flood of bankruptcies over the coming months. The Office for National Statistics (ONS) said that 64% of businesses across all industries were at risk of insolvency last month, with 43% of companies running…
LONDON: Creditors have approved a proposed individual voluntary arrangement (IVA) by Pramod Mittal, brother of one of the worlds richest men, Lakshmi Mittal, in which he is offering to pay back just 4.4 million (Rs 42 crore), after costs, of the 2.5 billion (Rs 24,000 crore) he owes them.He can now apply to get his…
New Delhi, Oct 28 (PTI) The Supreme Court Wednesday said it would pass orders on a batch of pleas filed by Insolvency and Bankruptcy Board of India (IBBI) seeking transfer of all petitions pending before different high courts challenging the provisions of IBC with regard to personal insolvency. A bench of Justices L N Rao,…