Tasmania’s auditor-general says that Spirit of Tasmania operator TT-Line was insolvent in August, but the state-owned company has disputed that claim. Auditor-General Michael Thompson released a report on Monday into the financial statements of state entities, pointing out the financial challenges facing TT-Line, along with the Motor Accidents Insurance Board (MAIB). His assessment of TT-Line…
New Delhi: Adani Enterprises Ltd is likely to emerge as the highest bidder to acquire Jaiprakash Associates Ltd (JAL) through insolvency process as its offers to pay acquisition amount in two years have been found better than Vedanta’s bid to make payments in five years, sources said.In early September, mining conglomerate Vedanta Group had beaten…
The state-owned company that operates the Spirit of Tasmania ferries was insolvent when its books were audited in August, Tasmania’s Auditor-General has found. TT-Line directors have rejected the finding, insisting the business remains viable despite ongoing financial pressures. Auditor-General Martin Thompson handed down his verdict in a report on state entities released on Monday. He…
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The National Company Law Tribunal (NCLT) in New Delhi has simultaneously admitted two separate insolvency pleas against its subsidiary companies over combined defaults of nearly ₹2,772 crore. The tribunal initiated proceedings against Haridwar Highways Project Limited (HHPL) for a default of ₹2,386.51 crore and against Era Infrastructure (India) Ltd. for a default of ₹385.38 crore. The petitions were…
Model ID: a6362c0e-5817-46cb-a161-2edbeed96b17 Sitecore Context Id: a6362c0e-5817-46cb-a161-2edbeed96b17; There must be more direct assistance for workers seeking to recover unpaid wages after their companies restructure. Additionally, although the law will allow small businesses to renegotiate contracts that were agreed upon before the COVID-19 pandemic, a limit must be put in place. These were some of…
Folalumi Alaran in Abuja The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Sunday, has called for deeper collaboration with the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) to strengthen the nation’s financial stability architecture and promote sound insolvency practice. Mr. Sunday made the call when the President of BRIPAN,…
New Delhi: Adani Enterprises Ltd is likely to emerge as the highest bidder to acquire Jaiprakash Associates Ltd (JAL) through insolvency process as its offers to pay acquisition amount in two years have been found better than Vedanta‘s bid to make payments in five years, sources said. In early September, mining conglomerate Vedanta Group had…
New Delhi: Adani Enterprises Ltd is likely to emerge as the highest bidder to acquire Jaiprakash Associates Ltd (JAL) through insolvency process as its offers to pay acquisition amount in two years have been found better than Vedanta‘s bid to make payments in five years, sources said. In early September, mining conglomerate Vedanta Group had…