CBDT relaxes MAT provisions for companies under corporate insolvency – Hindu Business Line

New Delhi, Jan 6:   In significant relief to firms undergoing insolvency resolution, the Finance Ministry has now eased provisions of minimum alternate tax (MAT) for them. Accordingly, companies against whom corporate insolvency resolution process has been initiated can now reduce the total loss brought forward (including unabsorbed depreciation) from the book profit for the purpose…

New York REIT (NYRT) Announces $2.00 Per Share Cash Liquidating Distribution – StreetInsider.com

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here. New York REIT, Inc. (NYSE: NYRT) (the “Company” or “NYRT”), which is liquidating and winding down pursuant to a plan of liquidation, announced today the Company’s Board of Directors has declared a cash liquidating distribution of $2.00…

Former director of company that ran Clerys pleads guilty to employment law offence – RTE.ie

A former director of the company that ran Clerys department store prior to its controversial liquidation in 2015 has pleaded guilty to a criminal offence under employment law. Brendan Cooney with an address at Weirview Drive, Stillorgan, Co Dublin was a director of OCS Operations Ltd – the company that ran the retail operation based on Dublin’s…

China’s CDB withdraws insolvency petition against India’s RCom – Yahoo7 News

MUMBAI (Reuters) – China Development Bank (CDB), the biggest foreign lender to India’s Reliance Communications Ltd (RCom) <RLCM.NS>, on Friday withdrew a petition seeking to drag the indebted telecoms carrier into insolvency. A lawyer for CDB told the National Company Law Tribunal that the Chinese bank had filed to withdraw the petition. The tribunal allowed…

Prestige Appliance liquidation sale begins Saturday – The Augusta Chronicle

Roughly $2 million worth of merchandise from bankrupt local retailer Prestige Appliance will be liquidated starting Saturday morning at the companys Aiken showroom and warehouse. A similar sale begins Tuesday at its Columbia, S.C., store, according to Grand Rapids, Mich.-based Liquid Asset Partners on behalf of the U.S. Bankruptcy Court trustee assigned to the Chapter…