NEW DELHI: The Supreme Court on Wednesday vowed to plug loopholes in the working of Insolvency and Bankruptcy Code (IBC) proceedings, which came to the fore during the ongoing intense fight between ArcelorMittal and Numetal to disqualify each other from bidding to revive debtridden Ruias-led Essar Steel. A bench of Justices R F Nariman and…
By Fiona Morrow If a companys assets consist primarily of ideas, securing funding to keep the development of that idea going forward through an insolvency process can be a real challenge. Thats because everything that is exciting about new technology becomes part of the problem when an IT company…
Dionne Warwick has a warning for her audience. I hope you came prepared for what Dionne has prepared, she offers, before singing a note. Youre going to be sitting there a long time. Shes right: at 78, her live show lasts nearly two hours, without an interval. Initially, at least, youre gripped by the fear…
R3 Midlands Chairman Chris Radford In the face of a mixed financial and economic outlook, the East Midlands entrepreneurial spirit appears not to have been dampened. Latest statistics from insolvency and restructuring trade body R3 highlight a net quarterly increase of around 2,000 East Midlands firms since the beginning of May, with the total number…
The curators of Mooy Logistics, Martijn Vermeeren and Bas Ebels, have submitted their first bankruptcy report to the courts. This progress report indicates that Mooy Logistics’ creditors have, for the time being, filed claims for more than EUR13,5 million. The trustees suspect that not all the creditors have not yet come forward. The acquiring parties paid…
NEW DELHI: There is fresh confusion over voting rights for home buyers in real estate companies, such as Jaypee Infratech and Amrapali, despite the Insolvency and Bankruptcy Board of India (IBBI) issuing a circular, mandating that only those who have submitted claims of their property will be treated as part of the electoral college (committee…
Katie is losing grip of her funds (Picture: Getty) Katie Price might be facing insolvency in a little over a month if she doesnt repay her debts, however the woman apparently has been looking at some new money-making avenues. After breaking things off with boyfriend Kris Boyson, the mother-of-five was spotted dancing up a storm…
Katie Hopkins has applied for an insolvency agreement in a last-ditch attempt to avoid bankruptcy after losing a libel case to food writer and poverty campaigner Jack Monroe. The controversial columnist was ordered to pay Monroe £24,000 in damages and legal costs in March last year after the High Court ruled comments the rig… Read…
Taking exception to the use of its name, the Insolvency and Bankruptcy Board of India (IBBI) has suspended the licence of an insolvency professional. The insolvency professional, Kapil Goel, had registered his company as IBBI Insolvency Practioners LLP. The company was incorporated in November 2017. When the regulator saw this,…
IFA farm business chairman Martin Stapleton welcomed the move by BidX1 and also called on vulture funds to engage directly with the IFA and farmers to resolve debt issues. “Farmers have to be given a fairer period of time to repay their debts. IFA is sick of dealing with endless intermediaries on behalf of these…