Published on Wed, Nov 04,2015 | 23:06, Updated at Wed, Nov 04 at 23:06Source : Moneycontrol.com Following is the Summary of the Recommendations of the Bankruptcy Law Reforms Committee (BLRC) The Report of the BLRC is in two parts:i. Rationale and Design/Recommendations;ii. A comprehensive draft Insolvency and Bankruptcy Bill covering all entities. The draft Bill…
Milton Acosta, 73, of West Babylon, worked for companies that paid into the Road Carriers Local 707 Welfare & Pension Funds, on May 20, 2016, in West Babylon. (Credit: Heather Walsh) A federal agency has declared a Hempstead-based union pension fund insolvent, a move that has resulted in additional benefit cuts for the plans nearly…
Avoid the risk that your gift voucher becomes worthless if a retailer goes into insolvency A radical new way to gift money, free from the risk of retailer insolvency, has been launched in the UK. LoveFromMe is a personalised gift card scheme which can be redeemed anywhere in the World that accepts MasterCard. Thish De…
A MARRIED couple who run The Convent have been accused of not paying performers on time, have had dozens of now dissolved or liquidated companies under different names and have both been declared bankrupt, it has emerged. Last year the SNJ reported on claims from former employees at the music venue, boutique hotel and private…
Although there is a provision in the section 233 of the Code that no suit, prosecution or other legal proceeding shall lie against the insolvency professional, liquidator and other officials of IBBI for anything which is done in good faith under the Code, professionals feel that it is too hard to prove that a particular…
A firm has sold a business serving around 4,000 sick and elderly people for £2 Mitie agreed to pay to offload its loss-making arm, which provides home care It was losing over £1million a month from its firms Enara and Complete Care The company blames the national living wage and local authority budget cuts By…
Australian businesses are set to experience an increase in insolvencies this year as a result of another difficult economic year, according to the recently-published Atradius Economic Outlook. The likely 2% increase in insolvencies puts Australia in step with the UK and Canada. The improving trend in the business environment across Australia and other advanced economies is…
Bad relationship between Christian Candy and brother’s wife revealed in court Emma Holyoake giving evidence in case brought by husband against Candys Said: Holly told me that Christian did not approve of her relationship with Nick’ By Rory Tingle For Mailonline Published: 12:17 +11:00, 1 March 2017 | Updated: 12:33 +11:00, 1 March 2017 e-mail…
Amendments to Singapore’s corporate debt restructuring legislation were tabled in Parliament yesterday, as the Government pushes to update the insolvency framework to help a growing number of ailing companies work out their debts in a weak economic climate. It is also part of efforts to position Singapore as a debt restructuring hub and augment its…
After eight years of legal struggle among state regulators, investors and policyholders, Commonwealth Court Judge Hannah Leavitt on Wednesday signed off on a plan to liquidate Penn Treaty Network America Insurance Co. and its affiliate American Network Insurance Co. of Allentown. That decision leaves solvent insurers, their owners and customers to pick up the cost…