by Elizabeth Proust Our insolvency laws are widely recognised as being among the harshest in the world. Unlike comparable countries, such as the UK and Singapore, where the law focuses on what directors are doing to try to turn a company around, Australia’s laws focus solely on the tipping point where a company cannot pay…
In the first six months after notification of the Insolvency and Bankruptcy Code, a number of big-ticket filings were made from the energy sector at the National Company Law Tribunal (NCLT). Last month saw insolvency filings worth Rs 10,000 crore from the sector. One of these being Kolkata-based steel company Ramsarup Industries,…
Labor is reeling after an adviser resigned amid revelations that the party bankrolled its 2016 federal election campaign with the help of up to $140,000 in donations from gold dealers linked to a multimillion-dollar tax scam. The resignation from NSW Labor of rising star, 2016 Senate candidate and gold trader Simon Zhou, comes as respected…
Labor is reeling after an adviser resigned amid revelations that the party bankrolled its 2016 federal election campaign with the help of up to $140,000 in donations from gold dealers linked to a multimillion-dollar tax scam. The resignation from NSW Labor of rising star, 2016 Senate candidate and gold trader Simon Zhou, comes as respected…
The Reserve Bank of India (RBI) directing banks to initiate insolvency proceedings against 12 shortlisted companies under the Insolvency and Bankruptcy Code (IBC) that have fund/non fund exposure of above Rs 5,000 crore where 60 percent or more has turned bad is a welcome sign for Indias crisis-ridden banking sector. These accounts account a quarter…
These make up 25% of the 8 lakh crore non-performing assets of the banking system Mumbai, June 13: To purge the banking system of big-ticket stressed assets, the Reserve Bank of Indias internal advisory committee (IAC) has recommended for immediate reference under the Insolvency and Bankruptcy Code (IBC) 12 accounts totalling about 25 per cent…
MUMBAI: Clamping down on bad loans, the RBI today identified 12 accounts for insolvency proceedings with each of them having over Rs 5,000 crore of outstanding loans, accounting for 25 per cent of total NPAs of banks. The banking sector is saddled with non-performing assets (NPAs) of over Rs 8 lakh crore, of which Rs…
Nazanin Jafarian Ghaissarifa married Folarin Alakija, who is son of Africa’s wealthiest woman worth $2.1 billion Lavish Blenheim Palace event cost estimated £5million, had one white roses and performance Robin Thicke MailOnline has discovered that his bride Naza was raised in Manchester after her parents separated Nazas mother Nooshin, declared bankrupt in 2014, lives in…
An attempt by the controversial businessman who bought BHS for £1 to keep his investment vehicle afloat has been dealt a further blow with the appointment of insolvency professionals to wind up his company. Sky News has learnt that Milner Boardman and Duff & Phelps have been appointed as joint liquidators to Retail Acquisitions Limited…
Labor is reeling after an adviser resigned amid revelations that the party bankrolled its 2016 federal election campaign with the help of up to $140,000 in donations from gold dealers linked to a multimillion-dollar tax scam. Play Video Don’t Play Tougher parole laws for terrorists in SA Play Video Don’t Play Video duration 01:21…