New Delhi: Lenders to Essar Steel on Wednesday urged the NCLAT to complete its insolvency resolution process in “quick” time, saying the debt-ridden company is incurring a daily loss of Rs 17 crore. At a hearing of the National Company Law Appellate Tribunal (NCLAT), Sudipto Sarkar, counsel appearing for the Committee of Creditors (CoC) of…
Bike-sharing companies have been competing fiercely for market share, and some have been losing money in the process. In a number of German cities, the dockless rental bicycles provided by Singapore-based Obike are proving especially problematic. Scattered around the sidewalks of various major cities, they’re often in the way of pedestrian traffic and they’re frequent targets…
Lenders to Essar Steel on Wednesday urged the NCLAT to complete its insolvency resolution process in “quick” time, saying the debt-ridden company is incurring a daily loss of Rs 17 crore. At a hearing of the National Company Law Appellate Tribunal (NCLAT), Sudipto Sarkar, counsel appearing for the Committee of Creditors…
Mr O’Reilly was declared bankrupt in the Bahamas in 2015. Creditors of bankrupt O’Reilly to get dividend Independent.ie Tony O’Reilly’s bankruptcy trustee plans to declare an interim dividend to the businessman’s creditors by the end of September, marking what is thought to be the first time proceeds secured from the sale of a swathe of…
iStock / dra_schwartz Your WIRED daily briefing. Today, drug treatments to kill damaged cells can increase the health and lifespans of mice, the Information Commissioner’s Office has fined Facebook and will begin criminal proceedings over the Cambridge Analytica data syphoning scandal, Tesla has announced its first Chinese factory and more. Get WIRED’s daily briefing in…
Lucy Winterborne and Alistair Wardell of law firm Grant Thornton UK were appointed joint administrators of the Cornish pasty producer. According to Grant Thornton, Crantock entered insolvency after failed attempts to sell the business in recent weeks. Despite the best efforts of management, cash has deteriorated rapidly leaving the directors with no choice but to…
New Delhi: Patanjali Ayurved will not back out from the race to acquire bankruptcy-bound Ruchi Soya and explore all options, including legal, to clinch the deal, its Managing Director Acharya Balkrishna said on Tuesday. Adani Wilmar, which sells cooking oil under the Fortune brand, and Baba Ramdev-led Patanjali are in the fray to acquire debt-ridden…
Charlie Flanagan The number of new applications for insolvency solutions through the Insolvency Service of Ireland (ISI) increased by 39 per cent in 2017. The figure is contained in the ISIs latest annual report, which Justice Minister Charlie Flanagan laid before the Oireachtas yesterday. Speaking afterwards, Mr Flanagan thanked Lorcan OConnor, director of the ISI,…
In an ongoing dispute between distraught homebuyers and Gayatri Hospitality & Realcon Ltd, a realty firm in Noida, the former claim that the latter has not so much as laid a brick in Gayatri Aura, a project it launched way back in 2011. The company has been booked for cheating, fraud, and…
The boss of a collapsed building company that left 30 homeowners in the lurch has been declared bankrupt for the second time. Auckland man Stephen Foley was the director of Point To Point Holdings, which went into liquidation at the start of 2017, leaving 30 houses at various stages of construction between Tuakau and Whangarei.…