Category Archives: Bankruptcy

YRIV MARCH 4th DEADLINE: Rosen Law Firm Reminds Yangtze River Port and Logistics Limited Investors of Important Deadline in Securities Class Action YRIV – GlobeNewswire

NEW YORK, Feb. 20, 2019 (GLOBE NEWSWIRE) — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Yangtze River Port and Logistics Limited (NASDAQ: YRIV) from February 2, 2016 through December 5, 2018, inclusive (the Class Period) of the important March 4, 2019 lead plaintiff deadline in the class…

Turkish court declares leading coach company Ulusoy bankrupt – Ahval

One of Turkeys leading coach companies Ulusoy Ulam A. was ruled legally bankrupt Wednesday, independent news site Diken reported. The ruling by a Turkish court arrives following a three-month bankruptcy protection period filed by the company in November of 2018. A family dispute led to the breakup of Ulusoy group in 2008. Ulusoy Seyahat was…

Unscrupulous East London health supplements company shut down – GOV.UK

Registered to a residential address in East London, GoNutri Limited was wound up in the High Court on 12 February 2019 for trading with a lack of commercial probity, objectionable trading practices and improper sales techniques. Following confidential enquiries, investigators from the Insolvency Service found that GoNutri targeted elderly and vulnerable people, bombarding them with…

Tribunal admits Rs 2.81 lakh claim under insolvency code – Times of India

NAGPUR: The National Company Law Tribunal (NCLT) has admitted an insolvency petition against a Chandrapur-based company over a liability of Rs2.81 lakh. It is among the smallest amounts, so far, for which a case has been fought under the Insolvency and Bankruptcy Code (IBC) 2016, said insolvency practitioners. Even as IBC 2016 has set the…

Act now to protect construction pay – The West Australian

Construction industry reform is overdue and change is needed urgently. Theres no doubt the property sector is experiencing a downturn, with projects put on hold and more builders going into liquidation. Those who can afford it least suffer most. As the downturn continues, it is the subcontractors who are feeling the most pressure. Subbies comprise…

Treasurys Rotich meets DCI officers probing stalled dams – The Standard

Kerio Valley Development Authority (KVDA) MD David Kimosop (in a white shirt) on a tour at Kipsaiya in Marakwet West where Arror multi-purpose dam will be constructed. [Fred Kibor/Standard] Treasury Cabinet Secretary Henry Rotich is the latest top-ranking official to be questioned over stalled Sh65 billion dam projects in the country. Mr Rotich recorded a…

When business goes bad: What are a company”s options when it becomes insolvent? – Proactive Investors UK

There can be many twists and turns over the life of a business, but one of the more serious (and usually final) turns is when it declares insolvency. A recent spate of high profile collapses, most notably music retailer HMV, cake chain Patisserie Valerie, and department store House of Fraser, have all brought…

Is The Liquidation Process Under The IBC Yet Another Pandoras Box? – BloombergQuint

This is crucial since a large sum of lenders capital is tied in such assets, Bansal added. Lack Of Clarity In Relinquishing Or Realising Security Interest The second challenge relates to secured lenders in whose favour assets of the company have been charged as a security for the loan extended. The insolvency code gives secured…

CLASS ACTION UPDATE for YRIV, ALKS, ASTE and GE: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders – GlobeNewswire

NEW YORK, Feb. 18, 2019 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the…

Need to strengthen corporate insolvency resolution process by having deterrents against failure: Icra – Firstpost

Mumbai: There is a need to strengthen the insolvency resolution process by having deterrents against failure or delays in implementing resolutions plans, a report said Monday. In the last two years, Insolvency and Bankruptcy Code (IBC) was implemented, three concluded corporate insolvency resolution process (CIRPs) being brought back to the National Company Law Tribunals (NCLTs),…