Severed workers of the Power Holding Company of Nigeria (PHCN), are protesting ongoing plans to liquidate the companys assets amidst pending labour issues including outstanding severance benefits of nearly 5,000 workers. The protest was led by the Chairman of the FCT Council of Electricity Employees, Mr Wisdom Nwachukwu on Monday. The workers demanded that…
Real estate developer Inbal Or is in a cross fire of an Israel Tax Authority criminal investigation, allegations by apartment purchasers, and business problems, but at least one threat was removed today. Or has reached agreement with Avraham Wolloch, an apartment buyer who filed a liquidation petition against Or City Real Estate, owned by Inbal…
Press Release Appliance City, a company with its registered office in Papatoetoe, Auckland was placed in liquidation on February 15, 2016, according to the Companies Office. Door-to-door sales company Appliance City was placed into liquidation, while owing Waikato customers. Pritesh Patel of Insolvency Practitioners and Accountants Patel & Co said that the collapse of…
Sebi will develop new products like options in the commodity derivatives market and also take a slew of measures to deepen the corporate bond markets. “New derivative products will be developed by Securities and Exchange Board of India (Sebi) in the commodity derivatives market,” Finance Minister Arun Jaitley said in Union Budget…
Madam Speaker, I rise to present the Budget for the year 2016-17.2. I am presenting this Budget when the global economy is in serious crisis. Global growth has slowed down from 3.4% in 2014 to 3.1% in 2015. Financial markets have been battered and global trade has contracted. Amidst all these global headwinds, the Indian…
White & Case has hired insolvency specialist Damien Whitehead as a local partner in Hong Kong from Herbert Smith Freehills, where he was that firms restructuring and insolvency head for Greater China. Whitehead advises corporates, financial institutes and insolvency practitioners on contentious and non-contentious restructuring and insolvency transactions. He also specialises in commercial disputes with…
NEW DELHI: The Union Budget 2016-17 presented by finance minister Arun Jaitley turned out to be positive for some sectors and negative for others. At 1.35 PM, the BSE Sensex was trading 48 points lower at 23,202. PSU banking counter was in focus after key Budget announcements. PSU banks rallied up to 11 per cent.…
Here’s the full budget speech of Union Finance Minister Arun Jaitley. Madam Speaker, Here’s the full budget speech of Union Finance Minister Arun Jaitley.
“This appears to be the biggest lay-offs at the company in the last seven years,” the source, who did not want to be named, told The Nation. The 100 employees will be laid off with effect from tomorrow. GMM Grammy is reportedly also considering cutting more jobs from its current staff strength of 3,000 employees.…
Just when the Australian dollar is starting to bounce back against the US dollar after dipping last year, the local market is now being hit by the fluctuations in the Chinese economy. This has knock-on effects for Australian businesses. As Australias largest trading partner, Chinas economic troubles is putting some pressure on the insolvency landscape,…