New Delhi: Russia’s VTB Capital-backed Numetal Ltd, which is in the race to acquire Essar Steel, on Monday alleged that rival ArcelorMittal India Ltd is not eligible to bid for the debt-ridden company under the IBC as it was the promotor of two defaulting companies Uttam Galva and KSS Petron. During the proceedings of the National…
India: The Supreme Court has ordered the National Company Law Appellate Tribunal (NCLAT) to adjudicate upon all issues relating to the Binani Cement insolvency case, including whether Ultratech Cements bid for the company is eligible. The case will be heard by the appeals tribunal from mid-July 2018, according to the Mint newspaper. The NCLAT is…
Ailing regional airline JetGo may have been trading insolvent for almost two years before it filed for administration, during which time it set up a number of new regional flight routes including those in and out of the Illawarra. The report to creditors who are owed about $38 million with most unlikely to receive a cent if the…
Ailing regional airline JetGo may have been trading insolvent for almost two years before it filed for administration, during which time it set up a number of new regional flight routes including those in and out of the Illawarra. The report to creditors who are owed about $38 million with most unlikely to receive a cent if the…
A bankrupt associate of the Hells Angels motorcycle gang has somehow won a whopping $1.33 million in lotto from his South Australian jail cell. Reginald Roberts, 64, received the lotto win in April, however it was transferred out of a bank account in his name almost the minute it went in, the Sydney Morning Heraldreports.…
Rosamund Urwin The owners of a collapsed caravan park company are expected to file their claim against Deloitte within weeksALAMY Deloitte is facing a high-profile legal dispute over insolvency work it carried out in 2012 after quietly dropping a legal challenge to the claim being brought. The owners of a collapsed caravan park company, Arthur…
Her crimes were discovered when another director of the company – Marc Marusco – started getting phone calls from creditors whose invoices were not being paid. The company subsequently went into voluntary administration in 2016. Ms Martincic’s lawyer Patti Chong agreed with Judge Michael Gething when he suggested the 41-year-old was “regretful” but not remorseful for what she had done. “She maintains…
Photo: Barbora Nmcová The Czech judicial system is unprepared to handle such an influx, Richter, a lawyer in the Prague office of the international firm Clifford Chance, told the business daily Hospodáské noviny. Under current law, the debt relief process cannot begin without the permission of creditors, unless it appears that the debtor will settle…
Mr Mohammed Miah and Mrs Anwara Miah, were both directors of Murrayfield Developments Limited (MDL), which was incorporated in 2004 and traded as The Original Raj Hotel in Edinburgh. From January 2012, Mr and Mrs Miah were joint directors of MDL and the company ceased trading on 19 November 2015 and went into liquidation on…
11:43 28/06/2018 MOSCOW, June 28 (RAPSI, Nikita Shiryayev) The Commercial Court of St. Petersburg and Leningrad Region has declared co-owner and ex-president of Baltiyskiy Bank Oleg Shigayev, who stands charged with embezzlement of 3 billion rubles ($55 million), bankrupt, according to court records. Earlier, the court has initiated debt restructuring process against Shigayev. His debt…