KOLKATA | MUMBAI: The National Company Law Tribunals Kolkata bench has admitted the insolvency plea against power transmission company EMC, which has defaulted on payments to the tune of Rs 6,500 crore to banks and other creditors, two people familiar with the matter said. NCLT took action following a petition filed by operational creditors to…
By Reuters 24 minutes agoUpdated 21 minutes ago MILAN, Nov 29 (Reuters) – Only three years after being declared bankrupt and demoted to the fourth tier of Italian football, a re-born Parma are on course to return to the European stage where they excelled in the 1990s. “, “size”:[ 970, 250 ], “partnerId”:”IndexExchangeHtb” } ],…
Italian manufacturer Piaggio Aerospace declared insolvency on 22 November, asking for extraordinary administration that would allow them to restructure. Piaggio manufactures and markets the P-180 Avanti Evo twin turbo-prop, which is aimed at the corporate and business aviation sectors. It is believed they are not selling well. In December last year, Piaggio released a five-year…
The company that runs an awards event promoted as the working womens Oscars is being liquidated with debts of more than 100,000. But the couple who already run the Venus Awards are planning to buy it back out of liquidation and keep going. This years Dorset Venus Awards went ahead at Bournemouths Hilton Hotel on…
Bluethorne Trading Limited was wound up in the public interest at the High Court on 20 November 2018, with the Official Receiver appointed as liquidator. The company claimed to be an interior design business, operating from an office in Medway, Kent. But the Insolvency Service was made aware of complaints about Bluethorne Trading and following…
Published Nov. 27. Updated Nov. 27 at 9:18 pm Security guards patrol in front of the Kyiv office of Russian state-owned VTB bank on Feb. 20. Photo by Volodymyr Petrov Popular on social media Ukraines central bank declared the Ukrainian subsidiary of Russian state lender VTB insolvent due to its declining liquidity and worsening financial…
Ukraines central bank declared insolvent Kremlin-run lender VTBs local subsidiary on Tuesday, ending a long-running struggle over the Russian states role in the country after the annexation of Crimea. The National Bank of Ukraine said it would wind down VTB Ukraines operations after its Moscow parent failed to comply with banking law and the [NBUs]…
Piaggio Aerospace recently declared insolvency, asking for extraordinary administration that would facilitate restructuring, the company confirmed. Under extraordinary administration, the Italian government will appoint a commissar who will work to guarantee business continuity, a spokesman said. The move comes a year after the financially troubled Italianmanufacturer outlined a five-year turnaround plan that included a 255…
Tuesday marks the end of an era for World Superbike fans as the Ten Kate Racing organisation has declared itself bankrupt. The future of the Dutch outfit was thrown into disarray when it was announced that Honda Racing Corporation (HRC) would be returning to the championship alongside Moriwaki and Althea Racing as of 2019. The…
THE number of insolvencies during this financial year so far is half that of the last financial year, according to statistics provided by the master of the High Court at the national consultative workshop on the insolvency bill being held at Swakopmund. Last year, 32 insolvencies were registered, which included 12 companies and 15 close…