State PPBM information chief Yaakob Osman says he was shocked when he was denied candidacy in Penaga. Penang PPBM information chief Yaakob Osman apologises to PH supporters in Penaga for his carelessness. BUTTERWORTH: A PPBM leader said he cried for two days straight after being told he was a bankrupt when filing his candidacy for…
The National Company Law Appellate Tribunal (NCLAT) today ordered the lenders of Electrosteel Steels to submit evaluation criteria and comparative charts showing the score matrix done by it of the top three bidders in insolvency resolution proceedings. In addition, the tribunal has asked the resolution professional and the committee of…
by Paula Mints Oh, what a tangled web you weave when vying for an exclusion from tariffs via strategic ac-quisition. In April, SunPower (SPWR) announced it had acquired (subject to regulatory approval) So-larWorld US, subsidiary of the company that kicked off the solar tariff dispute with a petition in 2012, focused on China as the…
Following the release of the Q1 2018 Insolvency Service insolvency statistics today, Richard Haymes, Head of Financial Difficulties at TDX Group, an Equifax company, calls for stricter rules when promoting insolvency services online: The figures released by the Insolvency Service today, showing an increase in both company and personal insolvencies, support our expectation that the…
The National Company Law Appellate Tribunal (NCLAT) on Tuesday ordered status quo in the insolvency process of Electrosteel Steels India Pvt Ltd. The NCLAT has also directed the steering committee, if any appointed, not to spend any amount except as required for the day-to-day operations of Electrosteel. A bench headed by S.J. Mukhopadhyay was hearing…
The draft Insolvency Bill will replace three older laws to address corporate and personal insolvency in one legislation and will carve out a separate corporate rescue and insolvency regime for smaller businesses. Today, April 30, is the registration deadline for a publication consultation meeting on the Myanmar Insolvency Bill. A consultation meeting on the Insolvency Bill…
Written by Khushboo Narayan | Mumbai | Updated: April 29, 2018 8:12:52 am I am not aware of the development, Vijay Agarwal, lawyer representing Nirav Modi, told The Sunday Express. An Antwerp-based firm owned by fugitive diamond jeweller Nirav Modi has been declared bankrupt by a commercial court in the northern Belgian city last month,…
The National Company Law Tribunals Guwahati Bench has extended the last date for the corporate insolvency process for Assam Company (India) Ltd. to July 23, 2018. This is the first major tea company to face insolvency proceedings. Significantly, industry players have expressed apprehension that other tea companies may also face similar proceedings. ACIL has tea…
The Riga City Latgale District Court has ruled against taking in custody former insolvency administrator Maris Spruds, who together with three other people was detained on fraud suspicions on April 26. Speaking to the press after the court sitting, Spruds said he had not been told to appear before the prosecuting authority so apparently no…
Controversial Sydney businessman Salim Mehajer will return to court in June to continue a bid to have his bankruptcy annulled. A NSW judge on Thursday refused to grant an application for an interim order to “stay” the bankruptcy after Mehajer’s lawyer argued a previous hearing should have been adjourned while his client was in custody.…