Soon after the SBI put on sale its loan exposure in bankrupt Essar Steel, the government on Monday held a meeting to review the progress in the 12 biggest default cases and urged the bankers to take up issues of delay with the higher authorities. “Bankers have been suggested to take up issues related…
GERMANY: RailRunner Europe GmbH has filed for insolvency, with the bankruptcy court of Hamburg appointing Dr Susanne Riedemann of specialist law firm Prof Dr Pannen Rechtsanwlte as preliminary insolvency administrator on January 18. The RailRunner Europe management said they intend to reorganise and restructure the company. The European subsidiary of US holding company RailRunner…
MNP Consumer Debt Index Canadians more worried about debt, interest rates and personal finances compared to September. MNP Ltd. Number of Canadians who say they dont make enough to cover their bills and debt obligations increased by 7 points to 31% Number of Canadians within $200 of insolvency increased by 6 points to 46% Number…
My management team and I have left no stone unturned in an effort to avoid this, Mr Fuller said in his statement. Loading I am enormously regretful and sad that it has got to this point. Even as late as yesterday [ January 16] it looked like there was an option for avoiding this action…
The National Company Law Appellate Tribunal (NCLAT) has said that the National Company Law Tribunal (NCLT) should not hear any third party, other than the applicant who has taken a company to the NCLT and the company which is the corporate debtor itself, at the time of the admission of a case. We…
Increase in conversion of NPAs into standard accounts and decline in new accounts falling in NPA category show a definite improvement in the lending and borrowing behaviour. New Delhi: The Congress left behind the legacy of an anachronic system of resolving commercial insolvency. The Companies Act had a provision of winding up a company if…
newsletters, editors-pick-list, NATHAN Tinkler says that while his time as the Hunters best known coal baron may not have gone to plan, he is not regretful of his tenure owning the regions two major sporting flagships. Speaking to yourmoney.com.au, Tinkler denied any wrongdoing in the appalling event of ICACs Operation Spicer hearings and said the…
The National Company Law Appellate Tribunal (NCLAT) has said that the National Company Law Tribunal (NCLT) should not hear any third party other than the applicant who has taken a company to the NCLT and the company which is the corporate debtor itself. We may observe that except the applicant (financial…
Jan 19, 2019- Tanahu Hydropower Limited has given a contract commencement date to the two companies hired for the execution of the 140MW Tanahu Hydropower Project. The project developer, a subsidiary of the state-owned Nepal Electricity Authority, on Wednesday directed CMC Ravenna of Italy and Sinohydro Corporation of China to mobilise workers for the project…
The former chief executive of a failed investment firm has been given just over two weeks to pay a record 76m fine by the City regulator. The Financial Conduct Authority formally imposed the huge fine on Stewart Ford yesterday over his role in one of the UKs largest investment scandals. He must find the funds…