SUDBURY — The Ontario government said Wednesday it is committed to French-language programs at Laurentian University and welcomes federal funding to help achieve that goal. It also disputed claims from Mlanie Joly, federal Minister of Economic Development and Official Languages, who said Tuesday the province didn’t respond to an offer to help. “We have said…
SUDBURY — The Ontario government said Wednesday it is committed to French-language programs at Laurentian University and welcomes federal funding to help achieve that goal. It also disputed claims from Mlanie Joly, federal Minister of Economic Development and Official Languages, who said Tuesday the province didn’t respond to an offer to help. “We have said…
The Supreme Court of India in Lalit Kumar Jain vs. Union of India & Ors.[1] has dismissed a challenge to a notification dated 15.11.2019 issued by the Ministry of Corporate Affairs,[2] which brought into force the following provisions of the Insolvency and Bankruptcy Code (hereinafter referred to as the ‘Code’), 2016: Clause (e) of Section…
Global Investigations and Recoveries Limited was wound up in the public interest in the High Court on 17 May 2021 before DDJ Watkin. The Official Receiver has been appointed liquidator of the company. During the proceedings, the court heard that Global Investigations and Recoveries was incorporated in April 2019, with registered offices in Nottingham. The…
Small and medium-size enterprises are considered the backbone of the American and European economies. In Australia, approximately 95 per cent of all businesses are SMEs. Therefore, it is a reasonable assumption that the vast majority of formal insolvencies are also SMEs. When companies get to the point where they are insolvent, there are typically two…
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here. AS Pro Kapital Grupp has not yet published audited annual report for 2020 (related notice:https://view.news.eu.nasdaq.com/view?id=b9a14c4af26fbcf29852a28f2d4144b75&lang=en). However, the Company is using unaudited financial statements as basis of preparation in this report. All details related to this issue can be find in Note 2…
The sub-prime lender Amigo faces potential collapse after confirming that it will not appeal against a high court decision that blocked a scheme to cap customer compensation. Amigo, which charges 49.9% interest and requires borrowers to provide a friend or family member to act as a guarantor, said it would consider all options and was…
Liquidation of a company means the legal way of ending the company in which assets are discharged and sold out to repay the creditors whereby the business is closed and its name is removed from the record of the Company Registrars Office (OCR). In Nepal, the major law governing the liquidation process of a company…
On May 21, 2021, the Supreme Court dismissed pleas on 75 petitions challenging the notification including that on Anil Ambani, Sanjay Singhal, Venugopal Dhoot, Kapil Wadhawan and 45 other industrialists. (The Supreme Court had declared the notification issued by the Union government under Insolvency and Bankruptcy Code, on November 15, 2019 as legal and valid).…
The approval of the Resolution Plan in CIRP requires a minimum 66% of the voting share of members of the Committee of creditors By Ashok Kumar Gulla The Insolvency and Bankruptcy Code, 2016 (IBC Code) enacted on May 28, 2016, provides for invitation of resolution plans from Prospective Resolution Applicants (PRAs) for revival of the…