HONOLULU (AP) Hawaiian Airlines’ parent company agreed to purchase Island Air’s operating certificate and other assets in a move that could save the failed company from liquidation. The trustee overseeing Island Air’s bankruptcy case filed a last-minute motion disclosing Hawaiian Holdings Inc.’s purchase. If the sale is approved, then the trustee’s attorney Simon Klevansky said…
With effect from 23 November 2017 Parekh Aluminex announced that Corporate Insolvency Resolution Process has been initiated under the provision of Insolvency and Bankruptcy Code, 2016 by an order of the National Company Law Tribunal with effect from 23 November 2017. The powers of the Board of the… Read the full article at: http://www.business-standard.com/article/news-cm/parekh-aluminex-intimates-of-initiation-of-corporate-insolvency-resolution-process-117122000985_1.html
The Construction, Forestry, Mining and Energy Union says construction company Grocon has not paid several groups of sub-contractors in Queensland for six to eight months, as concerns about the company’s future continue to simmer. Some contractors working on the group’s Queensland projects such as the Parklands Project, which forms the athletes’ village for next April’s…
HK: Ashurst snaps up restructuring partner from White & Case | Asian Legal Business HK: Ashurst snaps up restructuring partner from White & Case Ashurst has hired restructuring specialist Damien Whitehead as a partner in… Read the full article at: http://www.legalbusinessonline.com/appointments/hk-ashurst-snaps-restructuring-partner-white-case/75212
As previously disclosed, on October 4, 2017, the Company filed a definitive proxy statement for a special meeting of its stockholders, which was held on October 26, 2017 (the “Special Meeting”). At the Special Meeting, the Company’s stockholders approved an asset purchase agreement for the sale of substantially all of the Company’s assets (the “Asset Sale”)…
Safety of bank deposits has vaulted into the centre-stage of public discourse for the first time since the minirun on savings at ICICI Bank in 2008. Selective reading or more fittingly, misreading of the Financial Resolution and Deposit Insurance (FRDI) Bill has led the general public to interpret the proposed legislation as draconian – one…
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here. Sorrento Tech, Inc. (Nasdaq: ROKA) today announced that it has notified the NASDAQ Stock Market (“NASDAQ”) of its intent to delist its common stock (the “Stock”) from the NASDAQ Global Market. The Company filed…
NEW YORK, Dec. 19, 2017 /PRNewswire/ — New York REIT, Inc. (NYSE: NYRT) (the “Company” or “NYRT”), which is liquidating and winding down pursuant to a plan of liquidation, announced that it has closed on the previously announced sale of its property located at 1440 Broadway in New York, New York for a total of…
The Insolvency and Bankruptcy Code, 2016, in its brief history has created quite a shake-up in the corporate sector. No doubt that the enactment of the Code has been well intentioned. Due to the growing menace of loan defaults, it had long been felt to have some sort of disciplined insolvency and bankruptcy legislation to…
The Gujarat High Court has issued a show cause notice to the Central government in a challenge to the Insolvency and Bankruptcy Code (IBC), 2016. A Division Bench of Chief Justice R Subhash Reddy and Justice Vipul M Pancholi issued notice returnable on January 22, 2018, in a petition filed by Accord Industries Ltd, Ahmedabad,…