NEW DELHI: Fugitive businessman Vijay Mallya was declared bankrupt by a UK court on Monday, paving the way for a consortium of Indian banks led by the State Bank of India (SBI) to pursue a worldwide freezing order to seek repayment of debt owed by the now-defunct Kingfisher Airlines.“As at 15.42 [UK time], I adjudicate…
In a major setback for Vijay Mallya, the London court on Monday declared the fugitive businessman bankrupt. The verdict will help the consortium of Indian banks led by the State Bank of India in recovering debt from loans worth Rs 9,000 crore by seizing his assets. Read the full article at: https://www.latestly.com/quickly/india/news/fugitive-businessman-vijay-mallya-declared-bankrupt-by-london-high-court-2678878.html
Non-Fiction updates Sign up to myFT Daily Digest to be the first to know about Non-Fiction news. Somebody tell me where Ken Liangs breakfast is so I can dip my balls in it, yelled David Sambur. So begins chapter 30 of The Caesars Palace Coup. That kind of remark passes for humour in the rarefied…
David Tannock With more than 18 years experience in the insolvency sector, David joins from an accountancy and business advisory services firm in Glasgow where he spent almost four years as an insolvency manager, having previously worked for another chartered accountancy practice in the city for nine years. David has a broad range of experience…
1. How big is the problem? Chinese defaults were at a record pace by mid-year with more than $25 billion in onshore and offshore payment failures. That compares to $29.9 billion for all of 2020. Defaults in the private sector in China actually dropped early last year, largely due to pandemic-related pressure valves such as…
{{featured_button_text}} MATTOON Real estate agent Delia Bunyard of Century 21 Kima Properties was the guest speaker for a recent Kiwanis Club of Mattoon hybrid in-person/Zoom meeting. Bunyards stated mission as a real estate agent is to defy mediocrity and deliver extraordinary experiences for her clients. Bunyard talked about the local real estate market and how…
Recovering from bankruptcy is tedious; you never know how long it will take before returning to a more stable financial life. During this time, thinking of getting another loan might even seem futile. However, there’s still hope, thanks to mortgage companies that deal with bankruptcies. The process of getting a mortgage after bankruptcy can be…
Even prior to the global impact of COVID-19, commercial bankruptcy filings were already on the rise. As stay-at-home orders caused many businesses to close or significantly curtail operations in 2020, financial struggles in the commercial sector mounted. Government assistance through the passage of different stimulus programs such as the Coronavirus Aid, Relief, and Economic Security…
A local small business owner who put out an emotional video crying out for more help from the government was likely operating a company that was trading while insolvent. On Instagram, Carly Soderstrom posted a video saying small businesses couldn’t afford repeated lockdowns, and put direct blame for her financial woes on the pandemic. But…
Companies on the brink of insolvency are increasingly appointing independent directors to their boards as they prepare for a bankruptcy filing, but their neutrality is disputed by creditors, lawyers and academics. The companies label these directors as disinterested experts who act to maximize value for creditors by investigating the reasons for the bankruptcy, dealings between…