As mortgage marketplace HashChing goes through a seismic change and looks to branch into new areas of focus, more details have been emerging about the sudden departure of its executive team. Last week, The Adviser broke the news that the founder and the executive team of online mortgage marketplace HashChing had all left the company,…
Monsoon Accessorize will this week become the latest UK retailer to present a company voluntary arrangement as the potential saviour of its business, in the teeth of opposition from landlords. The insurrection against Monsoon, a retailer of hippie-trail inspired clothing with annual revenues of 400m, is not the only one. The insolvency procedure is used…
Multiple investigations and parallel bankruptcy filings by operational creditors will cast a shadow over the insolvency proceedings of Jet Airways (India) Ltd that its lenders have decided to initiate, experts said. A consortium of lenders led by the State Bank of India (SBI) on Monday decided to approach the National Company Law Tribunal (NCLT) after…
(Corrects day of the week to Monday in first paragraph) MILAN, June 17 (Reuters) – An Italian parliamentary committee is set to approve later on Monday a tax measure to spur mergers among banks based in the countrys poorer south, a lawmaker of the ruling League party said, warning of lenders in the region at…
FILE PHOTO: Jet Airways aircraft are seen parked at the Chhatrapati Shivaji Maharaj International Airport in Mumbai, India, April 18, 2019. REUTERS/Francis Mascarenhas/File Photo MUMBAI (Reuters) – Jet Airways creditors said on Monday they plan to begin insolvency proceedings against the Indian airline in a last-ditch bid to find a buyer for the carrier or…
Photo: Wikipedia An Islamic further education college has been stripped of its title and been barred from awarding grades to its students by education minister Ingrid van Engelshoven. Van Engelshoven was responding to a report by the education inspectorate into management and financial problems at the Europe Islamic University of Applied Sciences (EIUAS) in Rotterdam.…
Insolvency and Bankruptcy Code, 2016 (IBC) has proved to be a successful path for lenders to recover their loans from defaulting companies. According to a Reserve Bank of India (RBI) report, the recovery rate of the IBC is 42 per cent against 10-18 per cent in earlier regimes. Till December 2018, the IBC has resolved…
Friday, 14 June 2019, 8:57 amPress Release: RITANZ The Restructuring Insolvency and Turnaround Association of New Zealand (RITANZ) has welcomed news that the Insolvency Practitioners Bill has passed into law on Wednesday, almost a decade after it was first introduced into Parliament. The Insolvency Practitioners Regulation Bill and the Insolvency Practitioners Regulation (Amendments) Bill are…
Italian industrial group Maccaferri, the parent company of the insolvent EPC contractor, has also filed for insolvency for another three units of its energy business. June 13, 2019Emiliano Bellini A PV plant built by Enerray in Turkey, where the company has suffered from its geothermal investments. Image: Enerray Italian conglomerate Gruppo Maccaferri has begun insolvency…
Video PlayerClose WELLINGTON, June 13 (Xinhua) — A new legislation requires liquidators in New Zealand to be licensed and meet basic standards of honesty and competence, aiming to protect creditors and the public, Commerce and Consumer Affairs Minister Kris Faafoi said on Thursday. The Third Reading of the Insolvency Practitioners Regulation Bill and the Insolvency…