Corporate bankruptcies have gone up By the results of the first half of the year, the number of corporate bankruptcies in Russia has increased for the first time since 2017, according to the statistics published by the Fedresurs service on 7 July. In comparison with the first half of 2020, this year the growth has…
Idaho is one of 15 states now agreeing to a controversial bankruptcy plan involving Purdue Pharma, with the state poised to receive tens of millions of dollars from the OxyContin maker if the deal is approved. Two dozen states and D.C. originally opposed a $3 billion bankruptcy plan from Purdue Pharma and the Sackler family…
Novena Global Healthcare (NGH) co-founder Terence Loh was declared bankrupt yesterday after his “white knight” plan was abandoned. Mr Loh, 43, who has total outstanding debts of about $70 million with five banks stemming from personal guarantees for the loans held by NGH, had tried to enter into a voluntary arrangement with his creditors to…
The resolution calls for an additional $50 million from the family and acceleration of some milestone payments, according to the mediation document. In all, the contribution from the Sacklers will be about $4.5 billion over nine years. Purdue Pharma, which has not actively marketed OxyContin for two years, will be wound down or sold by…
Jaypee Infratech’s Interim Resolution Professional (IRP) Anuj Jain has filed Suraksha group’s bid, which was recently approved by financial creditors, with the National Company Law Tribunal. In a regulatory filing on Thursday, the company informed that the IRP on July 7 filed “the resolution plan of Suraksha Realty Ltd along with Lakshdeep Investments and Finance…
SINGAPORE – Novena Global Healthcare (NGH) co-founder Terence Loh was declared bankrupt on Thursday (July 8) after his “white knight” plan was abandoned. Mr Loh, 43, who has total outstanding debts of about $70 million with five banks stemming from personal guarantees for the loans held by NGH, had tried to enter into a voluntary…
New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Wednesday allowed withdrawal of the Oyo insolvency case, in a major setback to scores of hoteliers who had filed claims against Oyo Hotels & Homes basis the proceedings. The order was passed in the matter concerning Oyo and hotelier Rakesh Yadav. Oyo reached an out…
NCLAT has closed proceedings for insolvency of Oyo’s subsidiary Oyo Hotels and Homes Private Limited and allowed Oyo’s plea for setting aside the Insolvency and Bankruptcy Code case against OHHPL. TopicsNCLAT|Oyo|OYO Hotels & Homes Neha Alawadhi | New Delhi Last Updated at July 7, 2021 15:44 IST The National Company Law Appellate Tribunal (NCLAT) on…
07 July 2021 Consultancy.uk 2 min. read Begbies Traynor has appointed personal insolvency specialist David Tannock as an Insolvency Manager based at its Glasgow office. He brings the best part of two decades of experience to the role. Thomas McKay, a Partner atBegbies Traynor in Scotland, said, With sole traders and limited companies across the…
Personal Insolvency arrangements have been approved by the High Court that will allow former newspaper owner John Sheils and his wife businesswoman Susan Casey continue to make mortgage payments on their Co Kilkenny home until they are in their mid-eighties. The approval, made by Mr Justice Mark Sanfey, will see the couple retain their family…