The 73-year-old and his partner Ria have been living in poverty in southeastern Bulgaria for the last two months, only to receive help after his story grabbed huge attention in the Netherlands following a TV documentary shown last Sunday. They survived the freezing conditions in a broken-down van, lacking electricity, water and sanitary facilities, and…
A UNIVERSITY admin worker has declared bankruptcy, almost six years after she told a group of students to leave an indigenous-only computer lab at the Queensland University of Technology. Cindy Prior became the subject of a nationwide debate around racial discrimination when she told a handful of QUT students to leave the lab in May…
RCom on Friday said that it has decided to file for insolvency as the proposed asset monetisation plan failed to make any progress. With Anil Ambanis Reliance Communications (RCom) filing for insolvency proceedings under the Insolvency and Bankruptcy Code (IBC), the Department of Telecommunication (DoT) is likely to take a hit over its claim of…
Super priority lending (also known as rescue financing) has been recognized in many jurisdictions. In India, it has now been expressly covered, to some extent, under the Insolvency and Bankruptcy Code, 2016 (IBC). It falls under the realm of interim finance, which is provided during the corporate insolvency resolution process of an Indian corporate debtor…
Last year corporate deaths rose to levels not seen in five years. On almost every level, personal and company insolvencies are rising, and fast, according to the Insolvency Service. It is bleak news in a bleak midwinter. Maybe that is not a surprise.HMV and House of Fraser were just two of the high street names…
PERSONAL insolvency in Caloundra was up 35 per cent last quarter with 27 people applying for bankruptcy. That is compared with 20 for the previous quarter, according to data released by the Australian Financial Security Authority. While individuals in Caloundra were hard hit, business-related insolvencies were down from 11 to four. Across the Sunshine Coast…
A UNIVERSITY admin worker has declared bankruptcy, almost six years after she told a group of students to leave an indigenous-only computer lab at the Queensland University of Technology. Cindy Prior became the subject of a nationwide debate around racial discrimination when she told a handful of QUT students to leave the lab in May…
Sir, A letter from the Community Action Network in relation to the Abhaile scheme (January 30th) implies that as the recently published report shows that 30 per cent of people who have received advice on foot of the scheme have a solution in place or will have within one year of taking up advice, therefore…
The Insolvency and Bankruptcy Code, 2016, has been construed as a complete code. Based on that construction and noting that the code contained no provision expressly making the Limitation Act applicable, and as the act could not be considered as applicable by necessary implication, time-barred debts were allowed to trigger insolvency proceedings. To remedy this,…
In a seemingly unprecedented order, the National Company Law Tribunal, Mumbai bench rejected an application filed by a corporate debtor under Section 10 of the Insolvency and Bankruptcy Code(IBC) with Rs.10 lakhs costs, on finding that it was filed suppressing winding up order passed against it by the High Court. The suppression was detected almost…