Today’s City Moves cover the insolvency sector, insurance and legal eagles. Take a look at these movers and shakers: R3 Stuart Frith, a Partner at Stephenson Harwood LLP, is taking over as the new president of R3, the insolvency and restructuring trade body. His year-long term starts today. With over 30 years experience in the…
Image Source: baltictimes x DOWNLOAD British Steel consortium to acquire KVV Liepajas Metalurgs in Latvia – Report British Steel consortium to acquire KVV Liepajas Metalurgs in Latvia – Report The Baltic Times reported that British Steel consortium has repeatedly voiced a wish to purchase Latvias insolvent KVV Liepajas Metalurgs steelworks as a whole, according to…
ArcelorMittal and Nu Metal will get another chance to prove their credentials to take over Essar Steel, facing insolvency proceedings in bankruptcy court. The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Thursday declared invitation of the second round of bids for Essar Steel as invalid, brightening the chances for these two companies…
ArcelorMittal and Nu Metal will get another chance to prove their credentials to take over Essar Steel, facing insolvency proceedings in bankruptcy court. The Ahmedabad bench of the National Company Law Tribunal (NCLT) on Thursday declared invitation of the second round of bids for Essar Steel as invalid, brightening the chances for these two companies…
The UK’s corporate governance regime has been stress-tested in the past decade and in many respects it has done well. However, in response to certain high profile corporate collapses which have caused heavy losses for creditors, in particular individuals and suppliers with little opportunity to protect themselves against losses, and in the spirit of continual…
The British Steel consortium has repeatedly voiced a wish to purchase Latvias insolvent KVV Liepajas Metalurgs steelworks as a whole, according to a letter written by British Steel at the disposal of LETA. A consortium that includes British companies British Steel and its owner, Greybull Capital, plus Estonian company Baltic Metal Holding in a letter dated…
When Andrew Purcell is asked how serious a breach of directors’ duties it would be for a director to seek a secret, personal benefit in return for supporting a deal in the interest of shareholders, he answers with a vigorous nod. “That would be against directors’ duties, yes,” he agrees. That conduct is precisely…
Sweeping reforms to insolvency laws and regulations are set to benefit distressed companies that are attempting to negotiate a sale and avert going into administration. Local lawyers are of the view that draft regulations released this week by Minister for Revenue and Financial Services Kelly O’Dwyer are largely positive for lenders, struggling companies and the restructuring industry. “These…
The British Steel consortium has repeatedly voiced a wish to purchase Latvias insolvent KVV Liepajas Metalurgs steelworks as a whole, according to a letter written by British Steel at the disposal of LETA. A consortium that includes British companies British Steel and Greybull Capital and Estonian company Baltic Metal Holding in a letter dated with…
NEW DELHI: Top officials at leading banks fear that the insolvency resolution process at three companies with dues of about Rs 1 lakh crore is likely to fail, leading inevitably to liquidation. Lenders are unwilling to accept offers for Lanco Infratech, ABG Shipyard and Alok Industries that involve substantial haircuts over concerns that such deals…