Illustation: Sameer Pawar In early January, news of Anil Agarwal-backed Vedanta Resources emerging as a bidder for debt-laden Electrosteel Steels sent the latters stock soaring. While Vedanta wasnt the only bidderEdelweiss Asset Reconstruction Company, Tata Steel and Abhishek Dalmia-promoted Renaissance Steel were also in the fraythe process marked the beginning of proceedings under the Insolvency…
CHARGED: Former billionaire Nathan Tinkler has been charged by police for allegedly destroying property. BANKRUPT former billionaire Nathan Tinkler is embroiled in a family feud that has seen him charged with allegedly smashing a stained glass window at his sisters house. The case was briefly mentioned in Port Macquarie Local Court on Wednesday, but Mr Tinkler did not appear. Police allege…
RIGA – The administrator of the to-be-liquidated Latvijas Krajbanka, recovered EUR 7.198 million in 2017, according to a report published in the official gazette Latvijas Vestnesis. In December 2017 the administrator recovered EUR 123,223. The whole sum was recovered from the loans issued by the bank. The costs of the Latvijas Krajbanka insolvency procedure has…
License: Creative Commons CC0 BELGRADE (Serbia), January 22 (SeeNews) Serbia’s Bankruptcy Supervision Agency said it is selling the production facilities of insolvent pharmaceutical company Jugoremedija estimated at 3.887 billion dinars ($40.1 million/32.8 million euro). An auction for the Jugoremedija factory in Zrenjanin, in the north of the country, will take place on February 8, the Bankruptcy…
The move was quickly decried by the solar industry, which said the tariffs would create a “crisis” and cost thousands of US jobs and billions in investment without helping domestic suppliers meet rising demand. US Trade Representative Robert Lighthizer said the tariffs were imposed after an “exhaustive” review by USTR and the independent US International…
Manoj Kumar The Insolvency and Bankruptcy Code (IBC) stands out among the series of reforms the present government has brought about as the Indian banking system juggles with the huge pile of non-performing assets (NPAs) of over Rs 8 lakh crore. However, as in the case of any new law, the IBC too has certain loopholes…
RIGA – At the beginning of January 2018, tax debts in Latvia totaled EUR 1.217 billion, down 3 percent from December 2017, according to the information released by the State Revenue Service (VID). This total includes current and suspended debts as well as debts with extended payment deadlines. Tax debts to the central government basic…
THE initial liquidator’s report into the failed company that ran Wanderlust yoga events in Australia and New Zealand has revealed debts in the order of $1.6 million. Promoter Yoga Events Australia and New Zealand Pty Ltd has shut down just two months after what had appeared a highly-successful Novotel Twin Waters Wanderlust Festival in November.…
Pauline Hanson is launching a bid to have her renegade former colleague Fraser Anning kicked out of Parliament by the High Court, but she could have trouble convincing her Senate colleagues to back the move. Key points: Pauline Hanson will make a claim relating to bankruptcy proceedings levelled against Fraser Anning before he entered…
Pauline Hanson is launching a bid to have her renegade former colleague Fraser Anning kicked out of Parliament by the High Court, but she could have trouble convincing her Senate colleagues to back the move. Key points: Pauline Hanson will make a claim relating to bankruptcy proceedings levelled against Fraser Anning before he entered…