The hedge fund run by Sears Chairman Edward Lampert is offering to buy many of the bankrupt retailers remaining assets for about $4.6 billion with hopes of keeping the chain in business and continuing to employ about 50,000 of its workers. The bid from Lamperts ESL Investments includes about 500 Sears and Kmart stores, headquarters…
The National Company Law Tribunal (NCLT) Thursday dismissed the plea of HDFC Ltd to initiate insolvency proceedings against RHC Holding, a non-banking financial company promoted by Singh Brothers — Malvinder Mohan Singh and Shivinder Mohan Singh. A two-member principal bench headed by NCLT President Justice M M Kumar dismissed the plea of HDFC Ltd, which…
THE council has defended itself against accusations it is forcing people into bankruptcy. An investigation by Creditfix, a national personal insolvency practice, found that Cheshire West and Chester Council (CWaC) is one of 55 local authorities in England and Wales that are said to reject Individual Voluntary Arrangements (IVAs). IVAs offer an alternative to bankruptcy…
Former world tennis number one Boris Becker has dropped his claim to have diplomatic immunity from bankruptcy. The three-time Wimbledon champion had argued his appointment by the Central African Republic as a sporting, cultural and humanitarian attache to the European Union meant he could not be subjected to legal proceedings. But, after being told on…
UNSECURED creditors of failed grain business Convector Grain have criticised the administration and liquidation process, which left nothing for them in the final distribution of assets in spite of payments for liquidation, administration and legal fees totaling around $1.5 million. It is probably what we expected, we never thought we would get a big payment,…
Registrations are now open for the Contract Law Masterclass Sydney and so is the chance reserve your seat at the best available rate with the time-limited Early Bird offer. The one day masterclass puts the spotlight on some of the most complex areas of contract law. Among the speakers will be David Walter, Partner at…
Registrations are now open for the Contract Law Masterclass Sydney and so is the chance reserve your seat at the best available rate with the time-limited Early Bird offer. The one day masterclass puts the spotlight on some of the most complex areas of contract law. Among the speakers will be David Walter, Partner at…
The former world No 1 tennis player Boris Becker has dropped his claim to have diplomatic immunity from bankruptcy. The three-time Wimbledon champion had argued his appointment by the Central African Republic as a sporting, cultural and humanitarian attache to the European Union meant he could not be subjected to legal proceedings. But, after being…
3 December 2018 Image copyright PA Ex-tennis champion Boris Becker has dropped his claim to have diplomatic immunity from bankruptcy. The three-time Wimbledon winner had said his appointment as a Central African Republic (CAR) diplomat gave him protection from any legal claims. Declared bankrupt in 2017 over money owed to bank Arbuthnot Latham, he was…
According to a recent report released by Moore Stephens, there has been a 58% jump in the value of mortgages written off by UK banks in the last year. This rapid rise could be an early sign of distress in the housing market, the firm has stated. This jump in the value of residential mortgages…