If it feels like Penn Treaty American Corp. has been here before, well, that’s because it has. This time, however, the Salisbury Township provider of long-term care policies is heading toward a much different outcome: court-ordered liquidation. While that might sound grim, government officials and industry experts say Penn Treaty’s 170 employees and 78,000 customers…
If it feels like Penn Treaty American Corp. has been here before, well, that’s because it has. This time, however, the Salisbury Township provider of long-term care policies is heading toward a much different outcome: court-ordered liquidation. While that might sound grim, government officials and industry experts say Penn Treaty’s 170 employees and 78,000 customers…
BusinessPosted at: Dec 28, 2016, 12:03 AM; last updated: Dec 28, 2016, 12:03 AM (IST) Rules in place The Insolvency and Bankruptcy Code was notified in August and the Ministry of Corporate Affairs was entrusted with the responsibility to administer the Code To achieve the target, the three pillars as envisaged under the Code have…
Major policy initiatives and achievements of the Ministry of Corporate Affairs (MCA) Following are the major Policy Initiatives and Achievements of the Ministry of Corporate Affairs, Government of India during the Year-2016: 1. To review the Companies Act, 2013 based on implementation experience in line with changing economic environment and initiatives for addressing all…
The company was to enter liquidation from January 1 after the expiry of the present concession agreement on December 31. Last week, the PSC had informed the Muscat Securities Market (MSM) that it has been requested by the ministry to continue operations at PSQ for another three months, up to March 31, 2017. The PSC…
If you work in the tech industry, youve undoubtedly heard the term liquidation preference at some point. You may have experienced a chill as the words fell upon your ears, too. Theres a non-medical reason for this: liquidation preferences are created to ensure that investors get paid before anyone at a startup when the company either sells…
Mumbai: ICICI Bank Ltd has filed an application in the National Company Law Tribunal (NCLT) against Innoventive Industries Ltd to initiate a corporate insolvency process under the new bankruptcy law. This is the first case in India filed under the Insolvency and Bankruptcy Code, 2016, and it will provide a primer on how the new…
Adam Robison | Buy at photos.djournal.comHancock Fabrics, which was founded in Tupelo in 1957, filed for Chapter 11 for the second time in February. In March, it announced it would liquidate its remaining assets. By July 31, its remaining stores had closed. By Dennis Seid Daily Journal TUPELO The biggest business story of 2016 was…
Adam Robison | Buy at photos.djournal.comHancock Fabrics, which was founded in Tupelo in 1957, filed for Chapter 11 for the second time in February. In March, it announced it would liquidate its remaining assets. By July 31, its remaining stores had closed. By Dennis Seid Daily Journal TUPELO The biggest business story of 2016 was…
BHS was among companies which fell into administration in 2016 Thousands of British jobs have been lost this year as a string of struggling firms including BHS, Austin Reed and Lowcostholidays fell into administration. The development raises questions over job security in the new year, with companies set to contend with weaker growth, rising inflation,…