Kobre & Kim Continues to Expand Global Insolvency Practice With Senior Hire – Markets Insider

NEW YORK, Sept. 12, 2017 /PRNewswire/ — Kobre & Kim, the premier law firm for global disputes and investigations, welcomes Daniel Saval to its cross-border insolvency litigation practice in New York. Mr. Saval represents clients in multijurisdictional insolvency and corporate restructuring disputes, and has particular experience in contentious proceedings involving funds in liquidation triggered by fraud…

SARS swoops on Mpisane company – Times LIVE

One of the companies owned by high-flying Durban businesswoman Shauwn Mpisane is facing liquidation over a multimillion-rand tax bill. “Interested parties” have been given until next week to state why Mpisane’s Zikhulise Cleaning, Maintenance and Transport should not be placed under final liquidation. The Pretoria High Court placed the company under provisional liquidation last month…

Murdoch’s Fox weighs in to court battle for Network Ten – The Sydney Morning Herald

The Murdoch family-controlled 21st Century Fox has intervened in a Supreme Court battle for control of Network Ten as America’s CBS seeks to buy the failed free-to-air network. Billionaire Network Ten backer Bruce Gordon is seeking a court declaration that Ten’s administrators failed to give creditors adequate information about a joint bid by his company…

Murdoch’s Fox weighs in to court battle for Network Ten – Brisbane Times

Andrew Bell, SC, for Mr Gordon’s Birketu and Ten’s regional affiliate, WIN Corporation – which is majority owned by Mr Gordon – rejected claims Birketu was a “disappointed underbidder”. Birketu was a “disappointed overbidder” and the administrators should put its proposal to creditors for a vote, Dr Bell told the court on Tuesday. He said…

SC asks Jaypee Associates to deposit Rs 2000 cr: All you need to know about the controversy – Hindustan Times

The Supreme Court on Monday directed holding companies of Jaypee Infratech to deposit Rs 2,000 crore by October 27, in the latest development in an ongoing suit where homebuyers have challenged the companys move to declare itself bankrupt. Last week, the apex court had stayed insolvency proceedings against Jaypee Infratech. More than 30,000 buyers of…

Solvent cos file for voluntary liquidation as procedure gets simpler under IBC 2016 – Moneycontrol.com

Moneycontrol News With the process of liquidating companies becoming easier under the Insolvency and Bankruptcy Code, 2016, it’s not only the stressed companies that are taking the winding-up route but also some solvent companies are filing for voluntary liquidation. These firms are financially-sound and are capable of settling their dues but want to shut shop for…

Jaypee Infra case: SC asks JAL to deposit Rs 2000 crore, asks IRP to submit plan in 45 days – ETRealty.com

NEW DELHI: The Supreme Court on Monday re-initiated the insolvency resolution proceedings against Jaypee Infratech, while asking its parent company Jaiprakash Associates to deposit Rs 2,000 crore by October 27. Handing over the management of Jaypee Infratech back to the insolvency resolution professional (IRP), the apex court has asked the professional to submit an interim…

HC disallows parallel proceedings in NCLT and debt recovery tribunal – Economic Times

An Allahabad High court ruling involving troubled automaker LML has put the spotlight on the need for neat sequencing of recovery initiatives by lenders, with both banks and company managements often rushing to dedicated tribunals to start bankruptcy proceedings. The court barred parallel proceedings in the National Company Law Tribunal (NCLT) and the Debt Recovery…