The Insolvency and Bankruptcy Code is slowly evolving and coming of age through hundreds of petitions being instituted in various Benches of the National Company Law Tribunal (NCLT). When the stakes involved are of thousands of crores of rupees, the competition among stakeholders becomes intense; few crores get spend on lawyers fees, every single day.…
KUALA LUMPUR: Sixteen companies and 15 individuals were declared bankrupt after failing to settle RM8.18 million in arrears to the Inland Revenue Board (IRB). In a statement today, IRB said the 16 companies had a total of RM4.86 million tax arrears while the balance was owed by the 15 individuals. Based on the list provided,…
The resolution process for Essar Steel may undergo another round of bidding with sources indicating that both ArcelorMittal and Nu Metal could fail the eligibility test again after reconsideration of their applications by the committee of creditors (CoC) under the directions of Ahmedabad bench of National Company Law Tribunal (NCLT). Worlds largest steel maker ArcelorMittal…
By Australian Associated Press Published: 07:44 AEST, 23 April 2018 | Updated: 07:44 AEST, 23 April 2018 e-mail Disgraced Sydney businessman Salim Mehajer is expected to challenge a court which ruled him insolvent because “only God” has the power to declare him bankrupt. A Federal Circuit Court judge declared the property developer bankrupt in March…
The personal insolvency group said that while indebtedness among public sector workers had risen due to the squeeze on living standards from stagnant pay and inflation, police officers, firefighters and paramedics had seen the sharpest increases in their debts. Creditfix said that the average emergency services worker with debts saw them rise from £11,043 at…
Disgraced Sydney businessman Salim Mehajer is expected to challenge a court which ruled him insolvent because “only God” has the power to declare him bankrupt. A Federal Circuit Court judge declared the property developer bankrupt in March while he was in prison, having been refused bail over claims he staged a car crash and defrauded…
Disgraced Sydney businessman Salim Mehajer has launched a legal bid to overturn his bankruptcy, stating “only God” has the power to declare him insolvent. A Federal Circuit Court judge declared the property developer bankrupt in March while he was in prison, having been refused bail over claims he staged a car crash and defrauded an…
Disgraced Sydney businessman Salim Mehajer has launched a legal bid to overturn his bankruptcy, stating “only God” has the power to declare him insolvent. A Federal Circuit Court judge declared the property developer bankrupt in March while he was in prison, having been refused bail over claims he staged a car crash and defrauded an…
By Cecily Snowball For Mailonline Published: 10:34 AEST, 21 April 2018 | Updated: 10:41 AEST, 21 April 2018 e-mail 106 View comments Kerry Katona has reportedly arranged to have her ashes scattered in space after she dies. The reality star, 37, has been focusing on her impressive two-stone weight loss, but is now supposedly thinking…
Disgraced Sydney businessman Salim Mehajer has launched a legal bid to overturn his bankruptcy, stating “only God” has the power to declare him insolvent. A Federal Circuit Court judge declared the property developer bankrupt in March while he was in prison, having been refused bail over claims he staged a car crash and defrauded an…