Rolta India, which is among the leading IT and geospatial companies of the world, is in dire financial straits. The companys strategy to make itself debt free in India by divesting its global products and solutions business has failed, reported Hindu Business Line. Rolta planned to raise $25 billion(INR25,000 crore) by divesting to restructure bonds.…
The former chief executive of a failed investment firm has been given just over two weeks to pay a record 76m fine by the City regulator. The Financial Conduct Authority formally imposed the huge fine on Stewart Ford yesterday over his role in one of the UKs largest investment scandals. He must find the funds…
The Central Insolvency Commission, a Romanian state institution dealing with personal insolvency, has calculated that a two-parent family with two children, residing in the city, can live reasonably on RON 2,600 (EUR 557) per month. This is the minimum value of the consumer basket that provides a reasonable monthly living for a family of four,…
This move will reduce the burden on the NCLT to hear cases and pass an admission order and hence the tribunals can focus on the core issues of insolvency cases Mumbai: The government is mulling introduction of a procedure of deemed admission of companies under the Insolvency and Bankruptcy Code (IBC). In certain cases where…
Richard Haymes, Head of Financial Difficulties at TDX Group, an Equifax company, believes personal insolvencies may have reached their peak, but addressing the stigma of debt is vital to achieve better outcomes for consumers. Debt is at record levels with personal credit now exceeding 215 billion or 4,100 for every adult in the UK. However,…
The former chief executive of a failed investment firm has been given just over two weeks to pay a record 76m fine by the City regulator. The Financial Conduct Authority formally imposed the huge fine on Stewart Ford today over his role in one of the UKs largest investment scandals. He must find the funds…
Eddie Lampert, the billionaire hedge fund manager who served as CEO of Sears from 2005 until the company filed for bankruptcy in 2018, was responsible for many of the decisions that led to the companys decline and eventual insolvency. Now hes pulling Sears back from the brink of liquidation and saving himself from liability according…
A Perth family has warned homeowners about the importance of research after a botched renovation left them with a damaged house and a massive clean-up bill. Tamara Van Kerkof and Jason Williamson had been waiting years to be able to afford a renovation on their modest Perth hills home. But that dream turned into a…
An insolvency court in Mumbai has ordered the liquidation of Bharati Defence and Infrastructure Ltd, after rejecting the resolution plan submitted by Edelweiss Asset Reconstruction Co Ltd, leaving two dozen defence vessels stranded and a clutch of lenders standing to lose as much as 11,373.40 crore the debt-laden shipbuilder owes them. More than 850 employees…
The Philippine business community was rocked on Jan. 8 by the announcement of the bankruptcy of Hanjin Heavy Industries and Construction Philippines the Korean shipbuilding company based in the country. The biggest corporate bankruptcy. This is the biggest corporate bankruptcy to ever hit the Philippines. Hanjin is the biggest foreign investor in the Subic Bay…