What you should do when a corporate tenant enters insolvency. No landlord wants to find themselves in a position where a tenant who has recently entered into a ten-year lease with an option to renew for five years, becomes insolvent. However, there is always a risk a tenant will become insolvent during the term of…
JSW Steel is all set to sign a term sheet with Algerias Cevital to buy Italys second largest steel firm Aferpi for almost 600 crore Almost three years after losing the race to buy Italys second largest steel maker to Cevital, Algerian privately held group, billionaire Sajjan Jindal led JSW Steel is all set to…
The Energy Complex Oltenia estimates profit of over RON 44 million in January and approximately RON 200 million in 2017, denying the insolvency rumours. The company thus anwears to the statements of Nicoleta Munteanu, partner of insolvency company Euro Insol, who said this Wednesday that in the following period well see even big companies that…
Alan McGee Cork solicitor Alan McGee writes on a number of existing schemes designed to solve the issue of distressed debt. The recent controversy over the impending sale of non-performing loans by PTSB, AIB and Ulster Bank has once again raised public awareness of dealing with distressed debt. The PTSB proposed sale has generated much…
Paul Jessup, 46, has been disqualified from forming a company for 12 years He was the sole director of event management firm Paragon Production Limited Jessup caused Paragon to reclaim unentitled VAT totalling £19,356 for services provided to him personally, including his own wedding reception By Thomas Burrows for MailOnline Published: 22:20 AEDT, 28 February…
Three years after losing the race to acquire Italys second-largest steelmaker, JSW Steel is set to make a comeback. The Sajjan Jindal-company is expected to sign a deal with Cevital to whom it had lost out in 2014 to buy Aferpi. Cevital, the largest privately-held group in Algeria, had bought Lucchini in 2014 and renamed…
The last standing fringe operator Aircel, along with its units, has filed for bankruptcy in the National Companies Law Tribunal (NCLT)-Mumbai on Wednesday. This last resort was taken when the Malaysian owned Maxis company failed to strike a truce with its lenders and shareholders. ET in its February 19 edition first reported that the Rs…
Billionaire T Ananda Krishnans Aircel Ltd. is poised to file for bankruptcy protection from creditors, people with knowledge of the matter said, which would make the phone operator the latest casualty in Indias campaign to go after delinquent borrowers. The unit of Krishnans Maxis Communications Bhd. will submit the request to the National Company Law Tribunal…
About 70 creditors, many from the Peel region, are claiming to be owed money by a Mirabooka building company that has been placed in the hands of liquidators. Cole Building Pty Ltd, trading under the name Colista Homes, was entrusted to administrator Steven Kugel of The Insolvency Experts on January 31. The shareholders placed the company into…
Lenders have chosen a consortium led by Dalmia Bharat to take over Binani Cement, despite a close bid by the Aditya Birla groups UltraTech. Dalmia had offered Rs 63.5 billion for Binani Cement, while UltraTech’s financial offer was a tad lower. The lenders meeting was held in Mumbai on Tuesday. This will be the…