Category Archives: Bankruptcy

TickPick Acquires Secondary Staple Razorgator; Co-CEO Calls It An Important Acquisition Of Major Marketplace – Pollstar

Brett GoldbergTickPick Co-founder and Co-CEO Secondary marketplace TickPick is acquiring the brand and ticket resale platform Razorgator, which had declared financial insolvency in February. TickPick made the announcement today, and cofounder/co-CEO Brett Goldberg spoke with Pollstar about where Razorgator is headed after financial woes led to many customers purchasing tickets not honored at venues. The…

Stricter regulation needed as personal insolvencies set to rise by 17% in 2018 – Global Banking And Finance Review (press release)

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…

I cried for 2 days straight, says PPBM hopeful declared a bankrupt – Free Malaysia Today

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…

Insolvency proceedings: Tribunal seeks Electrosteel Steels bid details – Business Standard

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…

SunPower and SolarWorld: Strange Bedfellows – Alternative Energy Stocks

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…

Stricter regulation needed as personal insolvencies set to rise by 17% in 2018 – Global Banking And Finance Review (press release)

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…

NCLAT orders maintenance of status quo in Electrosteel Steels insolvency process – Business Line

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…

Draft bill combines corporate, personal insolvency in one legislation – Myanmar Times

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…

Court in Antwerp declares Nirav Modi firm bankrupt – The Indian Express

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,…

Assam Co. insolvency deadline set for July 23 – The Hindu

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…