Stakeholders have expressed support for a new bill that repeals and re-enacts the 37-year-old Bankruptcy and Insolvency Act. The new bill Bankruptcy and Insolvency (repeal and re-enactment) bill, 2015 also provides for corporate and individual insolvency to provide for the rehabilitation of the insolvent debtor as well as create the Office of the Supervisor of…
Dear Editor,In the political history of Arunachal Pradesh, we have seen chief ministers but the recent change of guard has a deeper conspiracy beyond politics. This will have a longer bearing on the future politics in the state and country. India is a multiparty, Westminster system of democracy. The government is…
If you watched the last Republican presidential debate, you may have noticed the split on Social Security among the final four. Donald Trump vowed not to cut benefits. His three rivals would — by raising the retirement age, reducing payouts for wealthier people, diverting payroll taxes to private accounts or trimming cost-of-living increases. Why the…
The Zika virus is the newest threat to humanity, especially pregnant women, so they say. Big Pharma is working feverishly to create a vaccine. Chances are the vaccine will be created, highly profitable, and Big Pharma will be held harmless for injuries to those who were vaccinated. Add GM mosquitos, birth defects, Brazilian Olympics, big…
MINNEAPOLIS A growing number of companies are dangling a recruitment perk that is tailor-made for the millennial generation: debt relief. Free snacks and gym memberships dont hold the allure they once did for young people entering the working world. Buried under student loans of more than $29,000 on average, they want help. For this millennial…
Defaulting promoters, wilful or otherwise, are known to hide behind the shield that the law provides, treating a company as a separate legal entity, distinct from its promoters, other shareholders, and directors. Following the doctrine of limited liability, the law recognises that the liability of the shareholders of a company is limited…
Asia Bio-Chem Group Corp. Announces Insolvency Canada NewsWire TORONTO, March 11, 2016 TORONTO, March 11, 2016 /CNW/ – Asia Bio-Chem Group Corp. (CSE: ABC) (“Asia Bio-Chem” or the “Company”) announces today that, due to the continued high cost of corn in China and the economic downturn experienced over the past three years the Company has become…
Debt-laden engineer Abengoa said on Thursday it had agreed a draft rescue plan with creditors to cut debt and inject fresh cash, in the latest attempt to avoid what could be Spain’s biggest bankruptcy. Loss-making Abengoa, which started out 70 years ago as an engineering business in Seville and expanded into clean energy by taking…
The Nov. 30 shutdown of Health Republic Insurance of New York, a nonprofit cooperative established in connection with the Affordable Care Act, left policyholders scrambling to find new coverage and health care providers short millions of dollars. And it spurred an investigation into its practices and calls for legislation to protect providers and consumers. On…
The headquarters of KTB in central Sofia. Photo by Christina Dimitrova Lawmakers have voted to approved changes to the Bank Insolvency Act on a first reading which also allow for the publication of a report by UK-based consultancy AlixPartners on insolvent Corporate Commercial Bank (Corpbank/KTB), local media have reported. Until now the text was only…