The Supreme Court of India on 25 January 2019 dismissed a challenge to the constitutional validity of the Insolvency and Bankruptcy Code, 2016, and has observed that the economic experiment conducted by means of the enactment of the code is proving to be largely successful going by the large numbers of cases resolved by following…
Mera Chung had known for weeks that her 30-year career in retail was coming to an end. But Chung, a vice president of design for Crazy 8, a division of Gymboree Group Inc., wasnt prepared for what CEO Shaz Kahng andhuman resources chiefBridget Schickedanz would tell her late on a Wednesday afternoon in mid-January. They…
A financial fund is objecting to a proposed personal insolvency arrangement under which a businessman would secure a 70m write-off of debt. Conor Clarkson of Cainfort, Enniskerry Road, Stepaside, Dublin 18 is seeking to have his PIA approved by the High Court. Promontoria (Arrow) Ltd, which says it is owed 64 million by the debtor,…
A majority of corporate insolvency cases have been resolved and the focus is now on resolving personal insolvency, Corporate Affairs Secretary Injeti Srinivas said on Monday. Commendable speed The speed at which the cases have been disposed [of] by the NCLT [National Company Law Tribunal] has been commendable, Mr. Srinivas said, speaking at a national…
New Delhi, Mar 25 As many as 12,000 cases have been filed since the implementation of the insolvency law and setting of National Company Law Tribunal (NCLT), a senior government official said Monday. Asserting that the Insolvency and Bankruptcy Code (IBC) should be the last resort, Corporate Affairs Secretary Injeti Srinivas said the NCLT has…
As many as 12,000 cases have been filed since the implementation of the insolvency law and setting of National Company Law Tribunal (NCLT), a senior government official said Monday. Asserting that the Insolvency and Bankruptcy Code (IBC) should be the last resort, Corporate Affairs Secretary Injeti Srinivas said the NCLT has been very expeditious in…
New Delhi: As Jet Airways battles acute financial woes, a senior government official Monday said a “good outcome” from the negotiations between the creditors and the company would be better than moving for proceedings under the insolvency law. “I think creditors and the debtor are in discussion. That is the best process,” Corporate Affairs Secretary…
ONC senior partner and author Ludwig Ng addresses ACCHK members at the seminar. On 8 January 2019, a seminar titled Corporate Insolvency Law and Practice Basic Principles and Updates was held by the Association of Corporate Counsel (ACC) Hong Kong at the offices of ONC Lawyers. ONC senior partner, Ludwig Ng, also the author of…
2019-03-22 08:57:131 hours ago Login / Register to save … Read the full article at: https://neweralive.na/posts/acc-gives-nimt-ultimatum-over-allegations
One of Australias most prominent tech startups – custom footwear-maker Shoes of Prey – has filed for insolvency. Helpfully, co-founder Michael Fox has explained why in a Medium post. The TL;DR: even though it had a loyal fan base among well-heeled women who appreciated its shoe customisation service, the company was never profitable and couldnt…