In a welcome development, the Supreme Court on Tuesday declared as unlawful RBIs February 12, 2018 circular, which ordered banks to refer defaulting companies for insolvency proceedings if they missed repayments even one day beyond the 180-day grace period. The Bench led by Justice Rohinton Nariman said that in light of Section 35AA of the…
Bogen Communications International, Inc., (Pink Sheets: BOGN) announced its German subsidiary Speech Design GmbH (Speech Design) filed an application in Hamburg for preliminary insolvency proceedings on January 10, 2019. The court approved debtor-in-possession management of the business, in conjunction with an insolvency advisor retained by Speech Design and a court appointed preliminary insolvency custodian. On…
Indias supreme court has struck down tough central bank rules on corporate defaults that had been designed to address the banking industrys chronic bad loan problem. The Reserve Bank of India issued a directive in February last year ordering banks to declare a default on the first day of delayed loan repayments from large corporate…
SouthGobi Resources: Adoption of dividend policy TSX: SGQ www.southgobi.com Mr. Munkhbat Chuluun reports: VANCOUVER, British Columbia, April 02, 2019 (GLOBE NEWSWIRE) — SouthGobi Resources Ltd. (TSX: SGQ; HK: 1878) (SouthGobi or the Company) is pleased to announce that the board of directors (the Board) has approved and adopted a dividend policy (the Dividend Policy) effective…
RYAN Thomas is on track to be a millionaire again six years after being declared bankrupt. The former Corrie star was hit with a 40,000 tax bill he couldnt pay after blowing his soap wages on an extravagant lifestyle. PA:Press Association Ryan Thomas is on course to be a millionaire again But the 34-year-old, who…
In Berlin was opened the bankruptcy proceedings for the airline Germania. A spokesman for the insolvency administrator Rdiger wienberg, the capture first, all claims of creditors, and then individually on their legality and enforceability wants to check confirmed. It seeks to exploit the assets and distribute to creditors, it said. As the administrator said, can…
The Reserve Bank of India (RBI) logo is displayed inside the central bank building in Mumbai | Karen Dias/Bloomberg Text Size: A- A+ New Delhi: The Supreme Court Tuesday quashed the RBI circular of last year that pertains to the provisions for declaring a company bankrupt even on a one-day overdue. The…
Lee Averies (49), from Wanborough, Wiltshire, has been banned for six years after he signed a disqualification undertaking in connection with his misconduct while director of Averies Recycling (Swindon) Ltd and Swindon Skips Ltd. Each company ran waste treatment and transfer sites in Swindon, Wiltshire. In his undertaking, Lee Averies did not dispute that he…
In Berlin was opened the bankruptcy proceedings for the airline Germania. A spokesman for the insolvency administrator Rdiger wienberg, the capture first, all claims of creditors, and then individually on their legality and enforceability wants to check confirmed. It seeks to exploit the assets and distribute to creditors, it said. As the administrator said, can…
The district court of Bielefeld opened today for the fashion company Gerry Weber into an insolvency process. The Board informed. The court is the application of the chain to a procedure in self-administration of 25. January followed. in contrast to regular bankruptcy proceedings, determine the proceedings in ownership, the company itself will continue its course.…