The U.S. Mega Millions lottery is holding a drawing on Oct. 19 for a jackpot thats swelled to US$1 billion after the 24 drawings held since the end of July failed to yield a winner. This princely sum is drawing such attention that more people are buying tickets, and even the lotterys own projections are…
Background The UKs place as a leading centre for corporate restructuring is under threat. Singapore and the EU are becoming increasingly competitive. Although the UK is ranked 7th in the world by the World Bank for ease of doing business, it is 14th for resolving insolvency, behind Puerto Rico, Slovenia, Belgium, Canada, and Iceland. Another…
Shilpi Cable Technologies Limited informed the exchanges that the resolution plan submitted by the resolution applicant was put up for the approval of the committee of creditors (CoC) in the Fifteenth CoC Meeting of Shilpi Cable Technologies Limited, in accordance with the Insolvency and Bankruptcy Code, 2016 and the rules and regulations framed thereunder. On…
Casa de Insolventa Transilvania, one of the biggest insolvency management firms in Romania, will open its first office outside the country in Cyprus, an emerging market where the insolvency practitioner profession only started to be officially recognized 2 years ago. The European insolvency market needs a complex multidisciplinary approach and the integrated product that the…
MUMBAI: Anil Ambani-owned shipbuilder Reliance Naval & Engineerings troubles have worsened with RFID solutions provider Markss Infotech filing a fresh insolvency petition against the firm. The development comes more than a month after IDBI Bank had moved the National Company Law Tribunal (NCLT) against Reliance Naval for defaulting on a loan of about Rs 1,250…
Nkechi Chima, Abuja The management of BFL Microfinance Bank has sued the Central Bank of Nigeria (CBN) for illegally revoking its operating licence. The microfinance bank, in the originating summons filed at the Federal High Court by its counsel, Velma Solicitors, prayed the court to declare the purported revocation null and void as the bank…
17 October 2018 | By GCR Staff The former chairman of Scottish construction company Muirfield, John Stodart, has been disqualified as a director after he was found to have siphoned off more than 880,000 from the company as it was going into administration. The Dundee-based company employed more than 280 workers when it declared insolvency…
By Tim Aldred Posted on: 17th October, 2018 at 8:20 am Simply Corporate, a business rescue and recovery specialst, has launched with the opening of a new office at Ribble Court, Padiham. The practice has been founded by Natalie Hughes, Alison Butler and Andy Platt. Natalie and Andy have worked together for the past ten…
This is in reference to the captioned subject. Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, we would like to bring to your notice that the 2nd Meeting of the Committee of Creditors (the CoC) of Uttam Value Steels Limited (the Company) was held on 11th October, 2018 to discuss…
Lenders of insolvent Bhushan Power & Steel (BPSL) have chosen the Rs 197-billion bid of JSW Steel. The committee of creditors (CoC) voted by a 66.6 per cent majority in its favour. Tata Steel and Liberty House were also in the race to acquire the company after the National Company…