In a landmark order that will cheer lenders pursuing recovery of dues under IBC (Insolvency and Bankruptcy Code), the principal bench of NCLT (National Company Law Tribunal) New Delhi has allowed the acquisition of a Rajasthan-based hotel, which is facing insolvency, by a nonbanking finance company (NBFC) without haircuts to creditors. In the first resolution…
The tribunal was was setup in May 2016 Mumbai, Dec 24: Since the National Company Law Tribunal (NCLT) was set up 18 months ago, over 4,300 cases have been filed at its various benches for resolution process, according to the Reserve Bank data. The insolvency and bankruptcy code came into existence with the enactment of…
ET Bureau| Dec 23, 2017, 10.48 AM IST Under the Insolvency and Bankruptcy Code, a resolution plan has to be in place within 270 days, failing which the court will rule in favour of liquidation of assets. Government-owned State Bank of India (SBI) has initiated insolvency resolution proceeding against Ushdev International, a company which was…
BBC’s Hugo Duncan declared bankrupt BelfastTelegraph.co.uk Singer and broadcaster Hugo Duncan has been declared bankrupt at the High Court in Belfast. https://www.belfasttelegraph.co.uk/news/northern-ireland/bbcs-hugo-duncan-declared-bankrupt-36431030.html https://www.belfasttelegraph.co.uk/incoming/article36335843.ece/4c2c3/AUTOCROP/h342/Hugo%20Duncan%20and%20Friends%20at%20Portico.jpg Email Singer and broadcaster Hugo Duncan has been declared bankrupt at the High Court in Belfast. Proceedings were brought against the 67-year-old over tax arrears related to his private entertainment company. The…
Singer and BBC broadcaster Hugo Duncan has been declared bankrupt at the High Court in Belfast. Proceedings were brought against the 67-year-old over tax arrears related to his private entertainment company. The order was based on a petition by HM Revenue and Customs. Under the terms of the court adjudication, he is expected to be…
by Bhuma Shrivastava and Upmanyu Trivedi India’s new bankruptcy law is getting maximum traction from an unusual set of lenders, those with the least to gain from pushing companies into the insolvency process. Operational or unsecured creditors, who have dues that are not backed by any collateral, would be la st in queue to be…
Indias new bankruptcy law is getting maximum traction from an unusual set of lenders, those with the least to gain from pushing companies into the insolvency process. Operational or unsecured creditors, who have dues that are not backed by any collateral, would be last in queue to be repaid once an insolvency plea succeeds in…
AN ESTABLISHED Coast company has been wound up just days before Christmas. DT & WM Bodkin Pty Ltd, trading as Signarama Sunshine Coast South, went into liquidation on Thursday. The Australian Securities and Investments Commission’s insolvency notices website advised liquidator Dane Hammond of Worrells Solvency and Forensic Accountants was appointed this week. The insolvency notice…
SolarWorld Americas Inc., one of two U.S. solar manufacturers asking President Donald Trump for tariffs on imported panels, says the move could revive a struggling industry. It may also boost the companys value ahead of a potential sale. The manufacturer, owned by bankrupt German panel maker SolarWorld AG, has already invited more than a dozen suitors to submit non-binding…
The Narendra Modi government may include a few more changes in the Insolvency and Bankruptcy Code or IBC ordinance in the finance bill when it is tabled in Parliament during the Budget session, according to a top official quoted in this Economic Times report. The IBC was put into effect in May 2016 and the authorities…