The bankruptcy regulator on Wednesday amended technical standards guidelines for key services extended by information utilities (IUs), which typically store financial information about stressed firms in electronic databases, to streamline their operations and help speed up insolvency resolution.As per the latest Insolvency and Bankruptcy Board of India (IBBI) rules, an IU will use demographic authentication…
Another electric vehicle maker is finding itself in financial dire straights. Texas-based Canoo, which was originally founded in California, has filed for liquidation bankruptcy under Chapter 7 of the U.S. Bankruptcy Code. In its recent announcement, the company said it was ceasing operations immediately.
The Insolvency and Bankruptcy Board of India (IBBI) has now mandated information utilities (IU) to use PAN or any other official document to verify the identity of users, who wish to seek information of corporate debtors. The IU, under the Insolvency and Bankruptcy Code (IBC), is required to maintain an electronic database of information of…
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The owners of One33 Brothel decided to liquidate the business. Photo / Joe Gilfillan A $115,000 loss was forecast in the initial report. The company has $127,000 in liabilities offset by only $11,000 in assets, which include cash of $777, fixed assets of $5000 and motor vehicles, the value of which is yet to be…
Giant contractor Put Sarajevo placed under liquidation over Sh800m debt Business Daily Read the original article here
Byju’s: NCLT Orders Disciplinary Proceedings Against Resolution Professional Moneylife Read the original article here
Kristian Rokke’s Philly Shipyard to pay out $84m after Hanwha deal as it heads for liquidation TradeWinds Read the original article here