Will Ruias challenge insolvency proceedings if Numetal gets disqualified? – Business Today

After six months long painstaking insolvency proceedings and due diligences, the Rs 43,000 crore debtor Essar Steel has received just two bids— from ArcelorMittal and Numetal Mauritius— on Monday. Though ArcelorMittal did due diligence for Bhushan and Essar, it reserved its final bid for the latter, pushing the industry to guess that it’s a sizable…

Payday loans a growing part of personal insolvencies in Ontario – The Globe and Mail

Payday loans were a growing factor in personal insolvencies in Ontario for the sixth consecutive year in 2017, despite recent provincial regulatory changes to curb borrowing rates and improve disclosures by lenders. A review of 3,500 insolvency cases by insolvency trustee firm Hoyes Michalos found 31 per cent of people who made insolvency filings in…

Wife not permitted to advance equalization of property claim after having declared bankruptcy – Law Times

Family law issues Wife not permitted to advance equalization of property claim after having declared bankruptcy Parties entered into minutes of settlement that provided husband would assume ownership of matrimonial home as well as related debts and expenses, and pay wife $40,000 in exchange for release of her property division and spousal support claims. Following…

German grain trading house Mackprang says applies for insolvency – Reuters

HAMBURG, Feb 12 (Reuters) – German grain trading house Mackprang has applied for insolvency proceedings, its chief executive said on Monday. Work will continue while a provisional administrator holds talks with creditors, said chief executive Jens Kass. The company and its shareholders had been unable to reach agreement on financing with banks, he said. The…

German grain trading house Mackprang says applies for insolvency – Reuters Africa

HAMBURG, Feb 12 (Reuters) – German grain trading house Mackprang has applied for insolvency proceedings, its chief executive said on Monday. Work will continue while a provisional administrator holds talks with creditors, said chief executive Jens Kass. The company and its shareholders had been unable to reach agreement on financing with banks, he said. The…