Insolvency and Bankruptcy Board of India (IBBI) on Thursday said the new code is not meant to address any fraud on the part of company promoters but allows creditors and other stakeholders to go for a health check of the corporate at the first available opportunity. “The code is not…
New Delhi: The government is planning to conduct a national insolvency programme to train insolvency professionals registered under the insolvency and bankruptcy code. The insolvency and bankruptcy board of India (IBBI) will organize a series of workshops to be conducted by industry experts, said a person familiar with the development. Mint spoke to two people…
Former One Nation senator Rod Culleton has secured a one week extension of a stay application on his bankruptcy ruling, which has forced him to lose his seat in Federal Parliament. The extension of the stay which was set to expire at midnight on Friday comes after Senate President Stephen Parry declared Mr Culleton’s…
Bus Éireann has confirmed the company is facing insolvency within 18 months unless decisive actions are taken to reverse losses. The transport providers acting Chief Executive Ray Hernan has told staff the company is facing forecasted losses of 8m for 2016 and warned that, collectively we cannot allow this trend to continue. The company has…
Related Story: Rod Culleton loses position as WA senator after bankruptcy decision Rod Culleton is vowing to fight his removal from federal politics, despite the president of the Senate confirming his disqualification. Key points: Senator Stephen Parry said he had received confirmation for the Federal Court that Rod Culleton was bankrupt…
The threat of the State-owned Bus Éireann becoming insolvent within the next 18 months is very real, its new acting chief executive has told staff. Ray Hernan also said it was clear the loss-making company had to change its business model. However, he insisted that the Expressway service, the companys commercial inter-city coach service which…
The threat of the State-owned Bus Éireann becoming insolvent within the next 18 months is very real, its new acting chief executive has told staff. Ray Hernan also said it was clear the loss-making company had to change its business model. However, he insisted that the Expressway service, the companys commercial inter-city coach service which…
The National Bank of Ukraine started the New Year by closing another bank, declaring Platinum Bank insolvent on Jan. 10. At one time it was Ukraines 22nd largest bank in assets. The central bank reported that Platinum Bank had failed to meet recapitalization requirements reached in June. The Deposit Guarantee Fund is obliged to pay…
Bus Éireann’s Acting Chief Executive Ray Hernan has told staff that the threat of insolvency within the next 18 months is very real, but that the loss-making Expressway service will continue to be a part of the organisation. A report commissioned by Grant Thornton had recommended that Expressway be shut down, which could result in…
Independent senator Rod Culleton has lost his spot in the Senate after he was declared bankrupt by a Federal Court judge. Senate president Stephen Parry has informed Mr Culleton and WA governor Kerry Sanderson there is a vacancy because the former One Nation member has been disqualified from the position as he is an “undischarged…