Beena Parmar Moneycontrol News The National Company Law Tribunal will be hearing the insolvency petition filed by Era Infra Engineering‘s lender on July 25. Originally set for hearing on Tuesday, the case against the debt-laden company has been postponed as about 18 winding-up petitions are still pending against it in the Delhi High Court. On Tuesday,…
Former NBN contractor Daly International has been spared liquidation after its director Peter Daly agreed to pay the troubled companys creditors the proceeds of sales of company assets and guarantee a cash payment for an additional $900,000. The two payments are the key financial terms of a company deed that Daly successfully put to creditors…
July 12, 2017 Promoters of some companies where insolvency and bankruptcy proceedings have been triggered are taking on operating roles to remain close to the action when the insolvency professional takes over. Take, for instance, Bhushan Steel Ltd, one of the 12 companies which the Reserve Bank of India has identified for triggering the Insolvency…
The Government looks set to row back from a promise to establish a stand-alone mortgage court to help property owners with serious arrears problems to stay in their homes. Briefing papers from the Department of Justice indicate the Coalition has started to explore alternative solutions as a means of getting around the commitment, which was…
Mumbai: Era Infra Engineering Ltd on Tuesday questioned the Delhi bench of the National Company Law Tribunal (NCLT) over whether insolvency proceedings can be initiated against it when winding-up petitions are pending against the company. The tribunal was hearing an insolvency petition filed by Union Bank of India against Era Infra. The company is among…
Promoters of some companies where insolvency and bankruptcy proceedings have been triggered are taking on operating roles to remain close to the action when the insolvency professional takes over. Take, for instance, Bhushan Steel Ltd, one of the 12 companies which the Reserve bank of India has identified for triggering the Insolvency and Bankruptcy Code.…
Struggling fashion chain Store Twenty One is being liquidated with the loss of 900 retail jobs. The value clothing retailer, which was based in Solihull in the West Midlands, has entered compulsory liquidation and its 122 stores which ceased trading on Friday will not reopen. The company had been in a precarious financial situation since…
WHAT is the best way to kill a zombie? Fans of Daryl Dixon, a character in The Walking Dead, a television series, will know the answer: a crossbow bolt to the brain. Getting rid of corporate zombies, however, is a much more complicated process. Ageing populations mean that the workforces in developed economies are likely…
Business recovery practice Begbies Traynor has said the number of failing companies has increased this year due to ongoing political uncertainty and a slowdown in consumer spending. Begbies Traynor said it was well placed to capitalise on the growing number of insolvencies in the UK, which are beginning to rise after years of decline. The…
Former Cardiff City and Manchester United player Philip Mulryne has been ordained a Roman Catholic priest in the Dominican Order. Mulryne was a product of the Red Devils’ youth academy and made five appearances for Sir Alex Ferguson’s side before joining Norwich City for £500,000 in 1999. Read More He made more than 150 appearances…