DEADLINE: Kimberley Kampers told to pay employees, creditors – Northern Star

A TWO-month deadline has been set for Ballina-based caravan company, Kimberley Kampers, to pay back its employees and creditors after a rescue package was passed at this week’s creditors meeting. Sydney-based administrator Steven Nicols, of Nicols and Brien Business Recovery, said an overwhelming majority of the more than 50 employees and other stakeholders at the…

One government company moves NCLT against another – Economic Times

In what is being considered as a first in India’s insolvency resolution history, a state-owned entity has moved the National Company Law Tribunal (NCLT) to recover its arrears from another government-run firm. Andhra Pradesh Power Generation Corporation (AP Genco) has dragged a Telangana power distribution company to the tribunal, seeking to recover more than 3,700…

Carillion’s collapse raises questions over weak corporate governance – Bray People

Payments to Carillion executives have ceased (PA) Carillions collapse raises questions over weak corporate governance Independent.ie The Insolvency Service has ceased payments to Carillion executives, but questions are still raised over the strength of corporate governance at the collapsed construction and facilities management firm.How much were former executives actually earning in the lead up to…

Corporate Insolvency Resolution Process Under Insolvency And Bankruptcy Code And The Dilemma Surrounding … – Live Law

India is on the cusp of a major shift in its recovery, insolvency, and bankruptcy jurisprudence post introduction of Insolvency and Bankruptcy Code 2016 (hereafter, the Code). Several well established concepts are being challenged and at the same time, new concepts are being evolved. For instance, it is a well-known principle of law that every…