TEMPO.CO, Jakarta – Indonesia’s troubled textile firm PT Sri Rejeki Isman, or Sritex, is in talks with potential investors to take over assets under a lease scheme, the company’s curator said on Monday. Sritex was declared bankrupt at the end of last year as it struggled to service its debts, which reached $1.6 billion in June.…
Coffee Day Enterprises stock soared 20% for the second consecutive day after the National Company Law Appellate Tribunal (NCLAT) overturned insolvency proceedings against the company. New Delhi, Mar 4 (PTI) Shares of Coffee Day Enterprises, parent company of Coffee Day chains, soared 20 per cent on the bourses for the second straight day on Tuesday…
Solo. Indonesia’s textile giant Sri Rejeki Isman (Sritex) will cease all factory operations in Central Java on Saturday, following a bankruptcy ruling over its failure to repay debts. The shutdown of the country’s largest textile company will affect more than 10,000 workers across the province. The Supreme Court recently rejected Sritex’s appeal, upholding the Semarang…
Noida Sports City Scam Case: Allahabad HC issued Guidelines on Rights of Other Members of Consortium When one Member Goes Into Insolvency taxscan.in Read the original article here
Hong Kong actor Vinci Wong Yin-chi, who filed for bankruptcy last year, was officially declared bankrupt by the High Court on Tuesday without opposition. Wong was sought by financial company Ego Finance for about HK$2.93 million in debt last December, the same month he filed for bankruptcy. During last month’s hearing, an Ego Finance…
Vinci Wong Yin-chi, actor and former chairman of Hong Kong’s oldest and largest charity, has been declared bankrupt. The 54-year-old filed for bankruptcy in December last year, just a day after a credit company sued him for allegedly defaulting on an unsecured loan of HK$2.8 million (US$360,046). High Court Master Jack Wong Kin-tong made the…
Vinci Wong Yin-chi, actor and former chairman of Hong Kong’s oldest and largest charity, has been declared bankrupt. The 54-year-old filed for bankruptcy in December last year, just a day after a credit company sued him for allegedly defaulting on an unsecured loan of HK$2.8 million (US$360,046). High Court Master Jack Wong Kin-tong made the…
The acquisition is expected to strengthen Jindal Power’s portfolio, which already includes a robust thermal power generation capacity exceeding 4.6 gigawatts. Jindal Power, part of the Naveen Jindal-led conglomerate, has successfully bid, estimated to be around Rs 500 crore, for Gujarat-based Bhadreshwar Vidyut, a thermal power producer currently undergoing insolvency proceedings. The company’s resolution professional,…
Calcutta High Court: A Single Judge Bench of Justice Shampa Dutt (Paul) dismissed a writ petition challenging an order directing the payment of gratuity to an employee. The court ruled that gratuity payments remain a statutory obligation even after a company undergoes Corporate Insolvency Resolution Process (CIRP). It held that Section 36(4)(a)(iii) of the Insolvency…
Hong Kong actor Vinci Wong declared bankrupt following court ruling Dimsum Daily Read the original article here