When the Centre constituted the insolvency and bankruptcy board, the intention was timely restructuring of a companys finances. Six months since the initial cases were filed, some corporates have willingly chosen the code, while others have resisted the proceedings. The Insolvency and Bankruptcy Board of India (IBBI) chairman M S Sahoo,…
Its believed the Palermo prosecutors office has opened a preliminary investigation which could lead to the club being declared bankrupt. The Rosanero ended the Serie A season in chaos, with President Maurizio Zamparini stepping down and sporting director Nicola Salerno resigning. Paul Baccaglini took over as President, but the ale of the club to a…
A candidate contesting the Kerowagi Open Seat in Simbu province has been declared insolvent or bankrupt by the National Court recently.Bari Palma couldn’t pay legal costs to current MP Camilus Dangima totaling K275,000 after loosing his 2012 election case.Lawyer, Martin Kombri representing Mr Dangima relayed the court’s decision last Thursday to NBC News.He says this…
Sandbanks, in Dorset, boasts the fourth-highest land value in the world It is also the most expensive place to buy a coastal home in the UK Businessman Richard Carr, 58, wants to build apartments and a huge hotel there The plans have drawn the ire of residents who fear the plan will ‘ruin the skyline’…
Fiscal Crisis: On the surface, Illinois and Puerto Rico would seem to have next to nothing in common. But in fact there’s quite a lot, especially when you look at the recent dire economic, fiscal and population trends for both. Both the Midwestern state and the U.S. island commonwealth are hemorrhaging citizens, with thousands leaving. Perhaps…
Bari Palma, a candidate for the Kerowagi Open Seat, was declared insolvent (bankrupt) by the National Court on June 1, 2017. This decision was based on Palma failing to pay the taxed costs of an unsuccessful election petition he had filed previously against the sitting MP, Camillus Dangima Bongoro. According to court documents, Palma owes…
The money owed to Alma and Merso Halilagic by bankrupt builder Watersun Homes could have bought the couple a new Porsche Boxster. But they don’t have the luxury of being able to turn their backs on the $155,000 debt. “We have to pay for our materials,” said Mrs Halilagic who, with her husband, runs a…
Company’s debts stood at Rs, 1000 crore at June-end in 2014 Veena Mani | New Delhi June 3, 2017 Last Updated at 00:58 IST Elder Pharmaceuticals has filed for insolvency, in an attempt to restructure its debt, accordin… Read the full article at: http://www.business-standard.com/article/companies/elder-pharma-files-for-insolvency-117060201220_1.html
Creditors across the border will have to wait to be part of the insolvency process in India.While the sections pertaining to cross-border insolvency in the Insolvency and Bankruptcy Code have been notified, the rules are yet to be framed. M S Sahoo, chairman of the Insolvency and Bankruptcy Board of India (IBBI), says…
Pimenton mine in Chile goes bankrupt High-grade gold mine runs out of cash Andrew Topf | Jun. 2, 2017, 11:43 AM | | One of the world’s highest-grade gold mines has been closed and its operator has declared bankruptcy due to a lack of working capital. The Pimenton mine, owned by Toronto-based Cerro Grande Mining (CNSX:CEG),…