Birmingham city council declared bankruptcy. UK's second-largest city's situation explained | Mint – Mint

England’ second largest city Birmingham‘s city council on 5 September, declared itself bankrupt, putting a pause on all spending except essential ones. The Birmingham city council issued a 114 notice last Tuesday, thereby joining a string of local authorities, which include Woking, Croydon, and Thurrock, that have announced it did not have the resources to…

UK's Second Largest City Birmingham Has Declared Itself Bankrupt. Here's Why – NDTV

Birmingham City Council has said it does not have the money to pay the bill Birmingham, the second-biggest city in Britain, declared itself bankrupt on Tuesday, sending shockwaves through the city’s governance. The Labour-run administration representing the UK’s second-largest city issued a 114 notice, putting a stop to all but essential spending and becoming the latest in…

Coffee Day stares at corporate insolvency over bond defaults – ETRetail

Alternative investment manager Ares SSG Capital Management has filed an application with the Bengaluru bankruptcy tribunal to admit Coffee Day Enterprises for corporate insolvency over its 228-crore bond default, people aware of the development told ET. The global fund filed the application through IDBI Trusteeship. Coffee Day Enterprises (CDEL) informed the exchange about the insolvency…

IDBI Trusteeship moves NCLT for insolvency proceedings against Coffee Day for alleged default of Rs 228 cr – Business Today

Coffee Day Enterprises Ltd, which operates the Cafe Coffee Day outlets, said on Friday that an application has been filed at NCLT against the company under Section 7 of Insolvency and Bankruptcy Code. The application has been filed by IDBI Trusteeship Services before National Company Law Tribunal, Bengaluru for alleged default of Rs 228 crore.…