The board was not concerned with default in bank credits or about the rising NPAs. It would mainly look into private creditors interest if their money got locked. (Illustration by: C R Sasikumar) The Bankruptcy and Insolvency Code will drive growth of debt market in India, which hardly exists in corporate and business financing, Dr.…
To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_01122017.pdf If you would like to receive this newsletter via email, please register at: https://forms.thomsonreuters.com/india-morning/ FACTORS TO WATCH 10:00 am: Insolvency and Bankruptcy Board Chairman M.S. Sahoo, State Bank of India Deputy Managing Director Pallav Mohapatra at conference on Insolvency and Bankruptcy Code 2016 in Kolkata. 11:00…
A business beyond redemption or revival asks for extreme measures to be taken. While it should stay the last option, it is always wise to know about liquidations. It also helps to set up your company, telling you all that you need if you ever run into a similar situation. A business beyond redemption or…
Melodramatic feuds are integral to “fake news” politics, and few are more unconvincing than the venom between Marine Le Pen, the wannabe French President, and her father, Jean-Marie Le Pen. Their staged schism is crucial to project Front National, the attempt by a notoriously racist and anti-Semitic far-right party to deliver Frances next head of…
Insolvency and Bankruptcy Board of India (IBBI) on Thursday said the new code is not meant to address any fraud on the part of company promoters but allows creditors and other stakeholders to go for a health check of the corporate at the first available opportunity. “The code is not…
New Delhi: The government is planning to conduct a national insolvency programme to train insolvency professionals registered under the insolvency and bankruptcy code. The insolvency and bankruptcy board of India (IBBI) will organize a series of workshops to be conducted by industry experts, said a person familiar with the development. Mint spoke to two people…
Former One Nation senator Rod Culleton has secured a one week extension of a stay application on his bankruptcy ruling, which has forced him to lose his seat in Federal Parliament. The extension of the stay which was set to expire at midnight on Friday comes after Senate President Stephen Parry declared Mr Culleton’s…
Bus Éireann has confirmed the company is facing insolvency within 18 months unless decisive actions are taken to reverse losses. The transport providers acting Chief Executive Ray Hernan has told staff the company is facing forecasted losses of 8m for 2016 and warned that, collectively we cannot allow this trend to continue. The company has…
Related Story: Rod Culleton loses position as WA senator after bankruptcy decision Rod Culleton is vowing to fight his removal from federal politics, despite the president of the Senate confirming his disqualification. Key points: Senator Stephen Parry said he had received confirmation for the Federal Court that Rod Culleton was bankrupt…
The threat of the State-owned Bus Éireann becoming insolvent within the next 18 months is very real, its new acting chief executive has told staff. Ray Hernan also said it was clear the loss-making company had to change its business model. However, he insisted that the Expressway service, the companys commercial inter-city coach service which…