Gill Plimmer March 8, 2018 The future of 2,500 staff from failed construction contractor Carillion was again thrown into doubt on Thursday after a Canadian company pulled out of a deal to take over a portfolio of contracts in hospitals, education, transport, emergency services and justice in the UK. Brookfield Global Integrated Solutions, a real…
One of the country’s biggest bankruptcies to go under the hammer is finally moving towards closure. Yesterday, Tata Steel said that “it has received a formal communication from the resolution professional [RP] of Bhushan Steel Ltd that it has been identified as the highest evaluated compliant resolution applicant to acquire controlling stake” of the beleaguered…
The chances of stressed power generation units landing in the insolvency court have increased after the Reserve Bank of India revised last month its framework for the resolution of non-performing assets. A more worrying aspect, according to sector analysts, is that these assets totalling more than 80,000 megawatts across operational and under-construction projects may…
Tata Steel Ltd. today said that it has been identified as the highest evaluated compliant resolution applicant for Bhushan Steel Ltd, under the insolvency and bankruptcy process. The steelmaker is currently in discussions with the resolution professional and advisors to the Committee of Creditors on the resolution plan it had submitted, it said in an…
Liberty House, part of Sanjeev Gupta’s global industrial group GFG Alliance, has been chosen as highest preferred bidder for Amtek Auto’s assets, which include 35 automotive component plants across India, Japan, Thailand and Spain, employing 6,000 people. The announcement of Liberty House as the successful preferred bidder was made in the committee of creditors…
… Read the full article at: https://www.stamfordadvocate.com/business/article/Bankrupt-Cenveo-gets-court-OK-for-financing-12735434.php
Bulgarian MPs voted on March 7 to overturn President Roumen Radevs veto on the bill of amendments to the Bank Insolvency Act. The motion carried with 129 MPs in favour, 40 opposed and no abstentions. The two parties in the government coalition, Prime Minister Boiko Borissovs GERB and the United Patriots group of nationalist parties, were…
Coronation Street actor Michael Le Vell has been declared bankrupt. The soap star, 53, has played garage mechanic Kevin Webster for three-and-a-half decades. He was declared bankrupt on January 8 under his birth name, Michael Robert Turner, with the order updated last week to reflect his stage name. Le Vell first joined Coronation Street in…
(Picture: Getty) Coronation Street actor Michael Le Vell has reportedly been declared bankrupt after struggling with legal costs of £200,000 accumulated when he fought child sex abuse allegations at trial in 2013. The star, who plays mechanic Kevin Webster, was found not guilty by a jury on all 12 counts but was left with the…
The Aditya Birla groups UltraTech Cement moved the National Company Law Tribunal (NCLT) in Kolkata on Tuesday against the resolution professional for Binani Cement after its bid for the cement company undergoing insolvency proceedings was rejected. The Kumar Mangalam Birla company had earlier served a notice to the resolution professional asking for details on…