IMAGE/ COURTESY The government is set to sell its stake in 26 companies to private investors in a bid to fund the budget deficit, and repay debt. Among those to be sold include36 companies owned by the government were declared insolvent by the 2015-16 government audit report. The companies according to the audit report required…
Pastor Otabil was the Board Chairman of the defunct bank, while the ICGC was named as a shareholder of the bank in the suit. The suit was filed at the Commercial Division of the Accra High Court by the receivers of the defunct bank, Mr Vish Ashiagbor and Mr Eric Nipah, both of PricewaterhouseCoopers (PwC).…
The National Company Law Tribunal (NCLT) is set to hear all the caveats filed by the operational creditors and aggrieved parties together in the Essar Steel insolvency case starting November 28. Apart from the three separate cases already filed against the ArcelorMittal resolution approved by Committee of Creditors, some operational creditors are planning to move…
Muscat: Residents and citizens of Oman who are short on assets and finding it difficult to fund themselves and their families can claim bankruptcy legally under the law. In a series of articles about Omans rules and regulations, entitled Know Oman, experts guide readers on their rights and responsibilities while working and living in Oman.…
We wish to inform you that our lender State Bank of India, Kolkatta has filed a petition under Section of IBC 2016 to trigger a Corporate Insolvency Regulation Process (CIRP) against our company i.e. Suryachakra Power Corporation Limited (SPCL) in National Company Law Tribunal (NCLT) Hyderabad vide CP (IB) No: 421/7/HDB/2018 in July 2018 which…
By GALGALLO FAYOMore by this Author Local operators of global technology firm Siemens AG, which is building 1,000km high voltage direct current lines between Ethiopia and Kenya, is seeking the courts protection to stop a firm that is threatening to file an insolvency petition over a disputed bill. Siemens says in court filings it is…
Companies Thursday, November 1, 2018 8:26 By GALGALLO FAYO Technicians relocate power transmission cables. FILE PHOTO | NMG Local operators of global technology firm Siemens AG, which is building 1,000km high voltage direct current lines between Ethiopia and Kenya, is seeking the courts protection to stop a firm that is threatening to file an insolvency…
By GALGALLO FAYOMore by this Author Local operators of global technology firm Siemens AG, which is building 1,000km high voltage direct current lines between Ethiopia and Kenya, is seeking the courts protection to stop a firm that is threatening to file an insolvency petition over a disputed bill. Siemens says in court filings it is…
KUALA LUMPUR, Malaysia U.S. authorities have charged a fugitive Malaysian financier and two former Goldman Sachs bankers in a money laundering and bribery scheme that allegedly pilfered billions from Malaysian state investment fund 1MDB. The corruption scandal involving the fund had already upended politics in the country. Prime Minister Najib Razak, who set up the…
By Associated Press, KUALA LUMPUR, Malaysia U.S. authorities have charged a fugitive Malaysian financier and two former Goldman Sachs bankers in a money laundering and bribery scheme that allegedly pilfered billions from Malaysian state investment fund 1MDB. The corruption scandal involving the fund had already upended politics in the country. Prime Minister Najib…