Published 7 February 2019 High Court Permanent TSB (PTSB) has lost an appeal against a Personal Insolvency Arrangement (PIA) which was confirmed in the Circuit Court in 2017. PTSB had voted against the terms of the PIA, in which the Personal Insolvency Practitioner proposed that the mortgage debt be written down, and the remaining…
In a bid to facilitate resolution process under insolvency law, the RBI Thursday proposed to permit bidders to raise funds through external commercial borrowing for repayment to the existing lenders. As per the existing guidelines, the proceeds of External Commercial Borrowing (ECB) denominated in either foreign currency or Indian Rupee, are not permitted to be…
Reliance Communications (RCom) has stated that it will file for fast-track insolvency resolution with the Indian National Company Law Tribunal. The operator group has taken the decision following a board review of its 2017 debt resolution strategy which found that despite the passage of over 18 months, lenders have received zero proceeds from the…
Terence Coventry (39), from Gainsborough, Lincolnshire, was appointed the sole director of Alliance Traffic Services Limited in April 2016 before he caused the company to enter into a factoring agreement a month later. The factoring agreement, which Terence Coventry personally guaranteed, set out the terms where an independent finance company would buy Alliance Traffic Services…
NEW YORK, Feb. 06, 2019 (GLOBE NEWSWIRE) — Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the…
Terence Coventry (39), from Gainsborough, Lincolnshire, was appointed the sole director of Alliance Traffic Services Limited in April 2016 before he caused the company to enter into a factoring agreement a month later. The factoring agreement, which Terence Coventry personally guaranteed, set out the terms where an independent finance company would buy Alliance Traffic Services…
Borrowing money to fund a new home, car or even a holiday is not only normal its pretty much universal. Youd be hard-pressed to find someone in Ireland today who doesnt have some kind of loan or credit facility. This can be an absolute life-saver once you can manage the repayments, but if something changes…
Related News Anil Ambanis RCom has been reeling under an estimated debt of over Rs 46,000 crore. (Express photo by Prashant Nadkar) Shares of Reliance Communications continued to reel under selling pressure Wednesday, falling below its face value of Rs 5, plunging nearly 13 per cent. Advertising RCom stock plummeted 10.84 per cent to Rs…
NEW YORK, Feb. 5, 2019 /PRNewswire/ —Scott+Scott Attorneys at Law LLP(“Scott+Scott”), a national shareholder and consumer rights litigation firm, reminds investors that a class action lawsuit has been filed against Yangtze River Port and Logistics Limited (“Yangtze” or the “Company”) (NASDAQ: YRIV) and other defendants, related to alleged violations of federal securities laws. If you…
Karimganj MP Radheshyam Biswas has urged the Centre to consider the matter of the two defunct paper mills of the Hindustan Paper Corporation in Assam with immediate priority and take prompt steps to reopen the units at the earliest. The mills Cachar Paper Mill and Nagaon Paper Mill have been lying defunct since 2015 and…