The last standing fringe operator Aircel, along with its units, has filed for bankruptcy in the National Companies Law Tribunal (NCLT)-Mumbai on Wednesday. This last resort was taken when the Malaysian owned Maxis company failed to strike a truce with its lenders and shareholders. ET in its February 19 edition first reported that the Rs…
Billionaire T Ananda Krishnans Aircel Ltd. is poised to file for bankruptcy protection from creditors, people with knowledge of the matter said, which would make the phone operator the latest casualty in Indias campaign to go after delinquent borrowers. The unit of Krishnans Maxis Communications Bhd. will submit the request to the National Company Law Tribunal…
About 70 creditors, many from the Peel region, are claiming to be owed money by a Mirabooka building company that has been placed in the hands of liquidators. Cole Building Pty Ltd, trading under the name Colista Homes, was entrusted to administrator Steven Kugel of The Insolvency Experts on January 31. The shareholders placed the company into…
Lenders have chosen a consortium led by Dalmia Bharat to take over Binani Cement, despite a close bid by the Aditya Birla groups UltraTech. Dalmia had offered Rs 63.5 billion for Binani Cement, while UltraTech’s financial offer was a tad lower. The lenders meeting was held in Mumbai on Tuesday. This will be the…
Illinois government is a culture of corruption Its hard not to find a state that is steeped in corruption, but few come close to Illinois. Ten Chicago city aldermen, seven municipal officials or workers, five state officials, five former governors and seven Congressmen have been censured, charged, impeached, forced to resign or imprisoned for corruptionboth…
Illinois government is a culture of corruption Its hard not to find a state that is steeped in corruption, but few come close to Illinois. Ten Chicago city aldermen, seven municipal officials or workers, five state officials, five former governors and seven Congressmen have been censured, charged, impeached, forced to resign or imprisoned for corruptionboth…
Cristian Parvan, the president of the Trade union of Romanian Investors (PIAROM), says that in the economy there are some 200,000 companies in different stages of the insolvency procedure, while another 260,000 firms have a negative capital below the legal requirements. Parvan said that PIAROM calls for a hike in the receivables limit from which…
Work is halted at Ulster university’s building site as insolvency experts go in BelfastTelegraph.co.uk The new £250m Ulster University campus in Belfast has been mothballed and workers sent home over a litany of legal problems, the Belfast Telegraph can reveal. https://www.belfasttelegraph.co.uk/business/northern-ireland/work-is-halted-at-ulster-universitys-building-site-as-insolvency-experts-go-in-36646249.html https://www.belfasttelegraph.co.uk/news/uk/article36647117.ece/72023/AUTOCROP/h342/KPMG.jpg Email The new £250m Ulster University campus in Belfast has been mothballed and…
Bankruptcy law is meant to support confidence and to smooth up possible new investments needed to support the long list of giga-projects and expected IPOs, Cyril Widdershoven, an economics and energy partner at Verocy, a consultancy firm advising on investment risks in the Middle East, told Zawya by email. Saudi Arabia has embarked on an…
Toys R Us is expected to enter administration tomorrow unless an eleventh-hour deal to rescue the ailing company is struck. See related Frantic attempts to secure a buyer before Tuesdays deadline for payment of a £15m VAT tax bill have so far failed, with a potential investor pulling out at the last minute, the Retail…