ArcelorMittal joins race to acquire Bhushan Steel under bankruptcy code – Economic Times

KOLKATA: ArcelorMittal, the world’s largest steel company, has joined the bidding race for stressed steel assets in the country by expressing interest to acquire Bhushan Steel. Top banking sources told ET that LN Mittal-led ArcelorMittal has submitted an expression of interest (EoI) for Bhushan Steel, which has been referred to National Company Law Tribunal (NCLT)…

NCLAT stays insolvency proceedings against Gayatri Projects – Hindu Business Line

Hyderabad, Oct 20:   Gayatri Projects has secured the stay of insolvency proceedings order initiated by NCLT with regard to a petition filed by Jaycon Infrastructure claiming default of dues worth Rs 2.28 crore. The Hyderabad-based construction and infrastructure company has secured a stay order for the appointment of Interim Resolution Professional (IRP) till November 14,…

Debt agreements and how to avoid unnecessary debt traps – The Conversation AU

Debt agreements are the fastest growing form of personal insolvency in Australia. They were designed to offer debtors a low-cost way to make arrangements with their creditors, while avoiding bankruptcy and some of its more serious consequences. When introduced, law reformers intended that debt agreements should be administered by volunteers rather than by commercial administrators…

NCLAT stays insolvency process for Gayatri Projects – Economic Times

Hyderabad: The National Company Law Appellate Tribunal (NCLAT) has on Wednesday stayed corporate insolvency resolution process and appointment of an interim resolution professional for Hyderabad-based infrastructure firm Gayatri Projects. In a communique to the bourses, Gayatri Projects said it has moved the appellate tribunal against the orders of the National Company Law Tribunal (NCLT) bench…

Cross-border insolvency – Vantage Asia

THE PAST TWO DECADES or so have witnessed global economic integration at an unprecedented rate. As a result, there has been a huge increase in the number of companies that operate on a cross-border basis. Companies operate on a cross-border basis in many ways, including through investing and owning assets in other jurisdictions and through establishing…

Retired RI hospital workers protest bid to cut pensions – News … – The Providence Journal

Retirees from St. Joseph’s, Fatima hospitals blame Catholic Diocese after fund is declared insolvent John Hill Journal Staff Writer jghilliii PROVIDENCE, R.I. About 100 St. Joseph’s and Our Lady of Fatima Hospital retirees marched in front of Superior Court and the Cathedral of Saints Peter and Paul Wednesday morning, protesting a legal effort to…