By SN Ananthasubramanian and Eshwar Sabapathy The Insolvency and Bankruptcy Code, 2016, intended to provide for an enactment to consolidate and amend the law relating to re-organisation and insolvency resolution, has given rise to a new breed the insolvency professional, who holds the key to insolvency resolution. The World Banks Doing Business Report states that…
Stock Exchange Release Talvivaara Mining Company Plc 20 September 2016 Status of Talvivaara’s reorganization proceedings The Company has started preparations for the conversion issue in accordance with the restructuring programme Talvivaara Mining Company Plc (“Company” or “Talvivaara”) announces that today it has received a statement from the Administrator of its corporate reorganization proceedings in which…
Sept. 20, 2016 2:31 p.m. ET Primorsk International Shipping Ltd. won final bankruptcy-court approval of a liquidation plan that divvies up proceeds from the sale of its oil tanker fleet to Russias Sovcomflot. Primorsks chapter 11 case got off to a rough start after a fight with lenders but, during a hearing in Manhattan Tuesday, a lawyer…
By Eleanore D. Sanchez Owning your first home may be a dream come true, but it is a reality that you will miss repayments due to unavoidable circumstances, and may have to refinance to deal with the burden of debt. The Australian Securities and Investments Commission (ASIC) cites some circumstances to avoid so that you…
Debt consolidation is the process of refinancing multiple balances into a single loan. You can take out one loan for the total amount of your current debt, then repay your existing debts with the funds from the new loan. Finally, youre left with just the new loan to repay. A debt consolidation loan can help…
The extent to which BBY, the collapsed stockbroker, was run using the advice of a psychic is being slowing revealed as the liquidators continue their forensic investigation. Nervine Rottinger, who calls herself a professional intuitive and energy healer, knows a bit about chakras, the centres of spiritual power in the human body. She once helped…
Riyadh- Saudi companies whose losses exceed 50% of their capital now have seven months only before being completely liquefied. Administrations of these companies are taking serious steps to enhance their financial conditions. Asharq al-Awsat newspaper was informed that the majority of these companies will depend on decreasing or increasing their capital. These updates coincide…
Georgia Forrester/FAIRFAX NZ Sensible Sentencing Trust founder Garth McVicar, left, and the trust’s Manawatu spokesperson Scott Guthrie. The director of two failed Feilding courier firms, who has since moved on to become a vocal member of the Sensible Sentencing Trust, will not have to pay any money back to the companies, partly because he was bankrupted following…
Georgia Forrester/FAIRFAX NZ Sensible Sentencing Trust founder Garth McVicar, left, and the trust’s Manawatu spokesperson Scott Guthrie. The director of two failed Feilding courier firms, who has since moved on to become a vocal member of the Sensible Sentencing Trust, will not have to pay any money back to the companies, partly because he was bankrupted following…
A sincere implementation of laws including those dealing with insolvency and bankruptcy will ensure that there is no repetition of 2G and Satyam like scams in India, NCLT President Justice M M Kumar has said. There will be no repetition of Satyam or 2G… those types of things. Those things are unlikely to happen if…