The legal battle that has broken loose in the insolvency resolution process of Bhushan Power & Steel underlines the importance a confidentiality clause in bidding or deals involving mergers and acquisitions. The two bidders, Tata Steel and Liberty House, seem to know each others offer price and have been throwing that as an argument…
ArcelorMittal is spoiling the bidding game of Essar Steel. Despite its lobbying with the Indian government, its illegal bid should not be cleared as it does not meet the eligibility criteria as per the current Insolvency and Bankruptcy Code (IBC), said VTB Capital, one of the two bidders for Essar Steel. ArcelorMittal is the…
Orissa Slurry Pipeline is a 253km pipeline that is responsible for transporting about half the raw materials for Essar Steels plant in Odisha. Mumbai: IDBI Bank Ltd is likely to initiate insolvency proceedings against Orissa Slurry Pipeline Infrastructure Ltd, the company that operates the pipeline supplying raw materials to Essar Steel Ltds Odisha plant, according…
NEW YORK/LONDON (Reuters) – The U.S. Department of Justice on Friday unveiled criminal charges against 10 defendants, including London-based brokerage Beaufort Securities Ltd, over their alleged roles in a more than $50 million stock fraud and a laundering scheme involving a late work by Pablo Picasso. FILE PHOTO: The exterior of the U.S. Department of…
DIPLOMA. Choice Living. Cooper & Oxley. BCL Group. Theyve become household names in this town, but for the most unfortunate of reasons. All have hit the skids (though Cooper & Oxley seems a fighting chance to trade out of its woes). The common thread? Hardworking small businesspeople subcontract tradespeople and suppliers are left holding the…
State bank of India has taken the debt trapped Hyderabad-based construction and infrastructure company IVRCL Limited to the National Company Law Tribunal. The Hyderabad-branch of the NCLT, while admitting the SBI petition, against IVRCL, which is amongst 28 accounts on the Reserve Bank of India list of large non performing assets, appointed Sutanu Sinha as…
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56-year-old has lived in six-bed property in Wateringbury, Kent, for over 16 years Forced to sell up after losing a legal battle over an unpaid £6 million tax bill Ive really put my heart into it and made it mine, she said of Grade II listed home By Mark Wood For The Mail On Sunday…
Russell Findlay Gregory Kings creditors include pension funds, investment funds and family trustsJULIAN ANDREWS A lawyer who was at the centre of a fraud investigation into his collapsed global finance company has become Scotlands biggest bankrupt with personal debts of about £120 million. Gregory King, 49, was declared bankrupt by a Gibraltar court last summer…
By Jonathan Stempel and Carolyn Cohn U.S. charges 10 in alleged global stock fraud involving a Picasso NEW YORK/LONDON (Reuters) – The U.S. Department of Justice on Friday unveiled criminal charges against 10 defendants, including London-based brokerage Beaufort Securities Ltd, over their alleged roles in a more than $50 million stock fraud and a laundering…