Liepajas Osta LM stevedore was declared insolvent in a written procedure at the court in Liepaja port city in Latvias south-west on May 12th, writes LETA. Zanda Kokare-Rode has been appointed as the insolvency administrator for Liepajas Osta LM, the courts representative, Inta Kurpa, told LETA. Kokare-Rode was proposed as the insolvency administrator after…
Hexi Pharma Co. SRL, a Romanian pharmaceutical company involved in a recent scandal of faulty hospital disinfectants, has filed for insolvency with the Bucharest Tribunal. 2016-05-12 15:55:12 According to the courts web portal, the application was filed on Tuesday and it regards bankruptcy upon debtor request under Article 66 of Law 85/2004 on insolvency prevention…
Rajeev Dubey, Managing Editor, Business Today In the fracas of whether Vijay Mallya is a defaulter, a wilful defaulter, or – to be charitable – a victim of circumstances, lenders and politicians have upped the ante against the UB Group chairman who fled the country with nearly Rs 9,000 crore in unpaid dues but who…
In a chat with ET Now, Kiran Mazumdar Shaw, CMD, Biocon, says the devil is in details of implementation and it is not an easy thing to implement the law. Edited excerpts ET Now: The Bankruptcy Code is a game changing move, no doubt. How important do you think it is in terms of a…
Thursday, May 12, 2016 Hexi Pharma Co. SRL, a Romanian pharmaceutical company involved in a recent scandal of faulty hospital disinfectants, has filed for insolvency with the Bucharest Tribunal. According to the courts’ web portal, the application was filed on Tuesday and it regards bankruptcy upon debtor’s request under Article 66 of Law 85/2004 on…
Under the bankruptcy bill, a debtor could be jailed for five years for concealing property or defrauding creditors. (File Photo) New Delhi: The Rajya Sabha passed a new bankruptcy code on Wednesday, as the opposition swung behind measures to take tougher action against corporate defaulters and help banks recover nearly 8 lakh crore in troubled…
NEW DELHI The Rajya Sabha passed a new bankruptcy code on Wednesday, as the opposition swung behind measures to take tougher action against corporate defaulters and help banks recover over $120 billion in troubled loans. Prime Minister Narendra Modi, who completes two years in office this month, had promised to introduce the code to address…
Parliament today passed a bill that seeks to create time-bound processes for insolvency resolution of companies and individuals. (Reuters) Parliament today passed a bill that seeks to create time-bound processes for insolvency resolution of companies and individuals. Insolvency is a situation where an individual or a company is unable to repay their outstanding debt.…
May 11 India’s upper house of parliament passed a new bankruptcy code on Wednesday, as the opposition swung behind measures to take tougher action against corporate defaulters and help banks recover over $120 billion in troubled loans. Prime Minister Narendra Modi, who completes two years in office this month, had promised to introduce the code…
The law firm of an attorney serving as insolvency administrator to German Pellets GmbH has released a statement noting three of the companys pellet plants in Germany have been sold, with negotiations ongoing in the sale of a fourth. According to the statement, a district court in Schwerin, Germany, opened the insolvency proceedings over the…