Anil Ambani-led Reliance Communications could be staring at insolvency as the Supreme Court on Thursday declined to grant it two weeks extra time to clear the Rs 5.5-billion dues of Ericsson. The deadline for the said repayment ends December 15. The refusal by the top court to grant more time…
HYDERABAD: The National Company Law Tribunal ordered the liquidation of Nagarjuna Oil Corp, nearly 17 months after initiating corporate insolvency resolution proceedings at the company, saying that lenders had not accepted the proposals made by various prospective investors. Haldia Petrochemicals, Bharat Petroleum, Gulf Petrochem and Citax Energy DMCC had submitted resolution proposals since the insolvency…
German heavy lift company Hansa Heavy Lift has filed for insolvency with the Hamburg District Court amid challenging market conditions. The decision was allegedly triggered by the companys US-based investor Oaktree Capital Management on Monday, December 10. Due to an extremely challenging operating environment in the global shipping industry, Hansa Heavy Lift filed for insolvency…
Dodgy insolvency practitioners will now find it harder to facilitate illegal phoenix activity under the governments new rules to restrict the voting right of certain creditors to prevent collusion. Assistant Treasurer Stuart Robert announced the introduction of the new insolvency practice rules that will restrict the voting rights of certain creditors related to a phoenix…
A COUPLE being investigated following an alleged 390million Caribbean property have been declared bankrupt. David Ames, 66, of Brock Hill, Wickford, and his wife Carol Ann, of the same address, appeared at Southend County Court last week. The couple, who are being investigated by the Serious Fraud Office, were made subject to bankruptcy orders by…
An investigation by ChannelNews has revealed that the directors behind BSR Group a Brisbane based custom installer Company have been the principle executives linked with three Companies that have been placed into liquidation since 2015. The three Companies are Digital Residence, Pure Innovations and Look & Listen which they took over earlier this year after…
Purchase declared insolvent Bank VTB claim Taskombank Sergey Tigipko. This became known from the sources of Economic truth. According to EP, for tenders for the selection of qualified investors filed Taskombank and Alfa-Bank. Alfa-Bank has not made payment, and the only contender left Bank Tigipko. On the balance sheet VTB-Bank there are about 600 properties,…
Boss of Bolton-based company that supplied construction workers has been disqualified for seven years for failing to declare all the companys tax liabilities. RBT Dryliners and Plasters UK Limited was incorporated in 2015 and supplied sub-contract labour to the construction industry. Roman Bogdan Piotrowski (45), from Manchester, was the sole director from April 2016 but…
TENNIS legend Boris Becker is locked in a divorce row over money. The German ace, who became Wimbledons youngest mens singles champion aged 17 in 1985, and wife Lilly have agreed to split. Boris Becker arrives at the Central Family Court in London Lawyers for the pair told Judge Sarah Gibbons that both had agreed…
RBT Dryliners and Plasters UK Limited was incorporated in 2015 and supplied sub-contract labour to the construction industry. Roman Bogdan Piotrowski (45), from Manchester, was the sole director from April 2016 but only a year later caused the company to enter into Creditors Voluntary Liquidation. This triggered an investigation by the Insolvency Service due to…