Debt consolidation sector booms – The Experts – Switzer Financial News
… Read the full article at: http://www.switzer.com.au/the-experts/tim-boreham/debt-consolidation-sector-booms/
Longford receptionist has 3m debt written off for 1,600 payment – Irish Times
A Co Longford woman had 3 million worth of debt written off for a payment of 1,600 as part of a personal insolvency arrangement approved by the High Court this week. Josephine Cooney of Mostrim Road, Ballymahon, Longford was unable to pay her debts and sought a financial rescue under the States personal insolvency regime.…
Romanian construction company owned by Greek investor files for insolvency – Romania-Insider.com
Octagon, one of the largest construction companies in Romania, controlled by Greek businessman Alexandros Ignatiadis, filed for insolvency on March 22. The company had RON 65 million (EUR 14 million) turnover and RON 60 million (EUR 11 million) debtat the end of 2017. The company decided to file for insolvency itself after several of its…
Good outcome from creditors-company negotiations better than insolvency: Centre on Jet crisis – The Hans India
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…
Supreme Court puts aims of bankruptcy code to rest – Vantage Asia
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…
She Lied to My Face: Inside the Hectic Last Days of Gymborees Retail Bankruptcy – The Intercept
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…
Fund objects to businessmans proposed insolvency arrangement – The Irish Times
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,…
Focus is now on personal insolvency: Injeti Srinivas – The Hindu
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…
12,000 cases filed since implementation of insolvency law, setting up of NCLT, says official – Outlook India
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…
12,000 cases filed since implementation of insolvency law, setting up of NCLT: Corporate Affairs Secy – Zee Business
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…