Essar Steel insolvency: Numetal questions ArcelorMittal’s eligibility to bid for debt-ridden company under IBC – Firstpost

New Delhi: Russia’s VTB Capital-backed Numetal Ltd, which is in the race to acquire Essar Steel, on Monday alleged that rival ArcelorMittal India Ltd is not eligible to bid for the debt-ridden company under the IBC as it was the promotor of two defaulting companies Uttam Galva and KSS Petron. During the proceedings of the National…

Indian Supreme Court bounces Binani Cement insolvency case to National Company Law Appellate Tribunal – Global Cement

India: The Supreme Court has ordered the National Company Law Appellate Tribunal (NCLAT) to adjudicate upon all issues relating to the Binani Cement insolvency case, including whether Ultratech Cements bid for the company is eligible. The case will be heard by the appeals tribunal from mid-July 2018, according to the Mint newspaper. The NCLAT is…

Deloitte row over insolvency – The Times

Rosamund Urwin The owners of a collapsed caravan park company are expected to file their claim against Deloitte within weeksALAMY Deloitte is facing a high-profile legal dispute over insolvency work it carried out in 2012 after quietly dropping a legal challenge to the claim being brought. The owners of a collapsed caravan park company, Arthur…

Woman stole more than $1m from building company to fund ‘expensive lifestyle’ – WAtoday

Her crimes were discovered when another director of the company – Marc Marusco – started getting phone calls from creditors whose invoices were not being paid. The company subsequently went into voluntary administration in 2016. Ms Martincic’s lawyer Patti Chong agreed with Judge Michael Gething when he suggested the 41-year-old was “regretful” but not remorseful for what she had done. “She maintains…