MUMBAI: An order passed by a bankruptcy court set a precedent by ruling that a promoter cannot escape the liquidation of personal assets by simply filing for bankruptcy that indemnified the firm against all legal proceedings will have rich promoters worried. The court has ordered lenders to go after the personal properties of M/s Schweitzer…
Former executive assistant Amber Harrison is liable to pay Seven West Media’s legal costs after a court found she acted unreasonably in contesting Seven’s case against her. On Monday afternoon NSW Supreme Court Justice John Sacker ordered Ms Harrison to pay Seven’s legal costs on an indemnity basis meaning she is liable for up to…
Beena Parmar Moneycontrol News Essar Steel will undergo insolvency proceedings as the Gujarat High Court dismissed the company’s plea against the Reserve Bank of India (RBI). According to a senior lawyer, “Now, Essar Steel has the option of going to the Supreme Court. They will take a decision in a day or to as time…
The Gujarat High Court on Monday dismissed Essar Steel India Ltd’s appeal against a central bank order that asked creditor banks to start insolvency proceedings against the steelmaker, lawyers on the case said. The ruling is a boost to the government, which in May tweaked Indian banking laws to empower the Reserve Bank of India…
17 Jul 2017 Idempapers has been declared bankrupt in early June. An interested investor had withdrawn his takeover offer. Now, new potential investors have emerged. There is still hope for insolvent Begian specialty paper producer Idempapers. The Belgian trade union CGSLB said that new investors had emerged who were interested in participating in a…
Pisit, who offered his legal service to the girls mother for free, told police that he deducted a Bt500,000 lawyers fee from the Bt4 million compensation he had received on the victims behalf, city police chief Lt-General Sanit Mahathavorn told a press conference on Monday. He claimed the money was to fund his PhD education,…
Moneycontrol News Inox Wind shares fell nearly 7 percent in morning trade Monday despite the company’s clarification on issues related to insolvency proceedings and Jeena case against it. Last week media reports indicated the wind energy service provider is headed for insolvency, after the National Company Law Tribunal’s Chandigarh bench (NCLT) ordered commencement of the…
Pisit and Thitapa, or Pattharawadee Sawasdee, were nabbed on Sunday night at the parking lot of condominium in Soi Ram-Indra 125 in Bangkok’s Min Buri district. The Taling Chan provincial court had earlier issued arrest warrants for the duo, along with another alleged female accomplice, Pornpaveen Chukaew. Pasit and Pornpaveen are accused of…
Identity of Securitas chief executive stolen, bankruptcy filed The chief executive of Swedish security firm Securitas AB, Alf Göransson, has been declared bankrupt after having his identity stolen. The company announced on Wednesday in a release that a fraudulent loan application in Göransson’s name was made in March. As a result, Göransson was declared bankrupt…
Enterprise cloud giant Salesforce.com has been caught in the collapse of private training provider Careers Australia Group and potentially more technology suppliers, big and small, might be wandering in the debris field. Careers Australia entered voluntary administration in May shortly after it was stripped of accreditation for federal funding support. Administrator PPB has so far…