Insolvency is something no business owner or company director wants to have to deal with. But its unfortunately a reality for many businesses and its always better to understand what can be done to salvage the company before having to resort to liquidation. In this article, were going to give you some of the…
House of Fraser concession partner Ehab Shouly is considering legal action against the companys administrator Ernst & Young (EY). Shouly, owner and co-founder of The Tea Terrace, which operates three cafes within House of Fraser stores, claims he is owed over 300,000 from House of Fraser, equating to two months worth of sales. He argues…
The Insolvency& Bankruptcy Board of India (IBBI) is framing rules that will enable creditors to chase guarantors of defaulting companies to recover dues, sources told The Times of India. This move is expected to help lenders tighten their grip around companies and promoters. These guidelines will be ready within a few weeks andwill help banks…
Representative Image  New Delhi: The Insolvency & Bankruptcy Board of India (IBBI) is preparing guidelines to enable creditors to recover dues from guarantors of companies if the company fails to pay its dues. According to a report in the Times of India, the insolvency regulator is expected to come out with guidelines in next few…
NEW DELHI: The insolvency regulator is readying rules that will enable creditors to go after guarantors of ailing companies to recover dues, a move that will tighten the grip around companies as well as their promoters who had given personal covers. The Insolvency & Bankruptcy Board of India (IBBI) is working on guidelines that are…
A Resolve for Insolvency | Asian Legal Business A Resolve for Insolvency Singapore has made plans to become an insolvency and restructuring hub in the region, and to that end, it passed game-changing laws last year. Lawyers analyse the impact that the new framework has had… Read the full article at: https://www.legalbusinessonline.com/features/resolve-insolvency/76463
Vide the notification dated January 28, 2016 under Section 16E of the Tea Act, the central government had authorised the Tea Board to take over the control and management of the seven ailing tea estates of the GP Goenka-headed company in north Bengal. The Kolkata bench of the National Company Law Tribunal (NCLT) has dismissed…
Kenyas beleaguered public universities have been told to further tighten their belts after being slapped with a US$10 million budget cut that will worsen their cash woes, in austerity measures that are meant to avert a looming economic crisis. Last week, Kenyas parliament voted to reduce funding for spending on salaries, learning materials and infrastructure…
Share price of Punj Lloyd fell nearly 3 percent intraday Friday after International Finance Corporation (IFC) moved an insolvency plea against company before the National Company Law Tribunal (NCLT). International Finance Corporation (IFC) has filed an application before the National Company Law Tribunal (NCLT) under Section 7 of the Insolvency and Bankruptcy Code. A two-member…