In a setback for Ultratech, the Supreme Court on Friday refused to allow out-of-court settlement for Binani Cement bankruptcy case. UltraTech Cement had informed the stock exchanges that it had obtained the Competition Commission of India’s (CCI) approval for its bid for the under-debt company and the company claimed the…
Reserve Bank confirms resilient financial system Financial Stability Review Reserve Bank Financial Stability Review: The Reserve Bank has handed down the latest review of the financial system. The Australian financial system remains resilient and its ability to withstand adverse shocks continues to be strengthened. Household borrowing risks ease: Concerns about riskier types of new housing…
ASIC cancels Octani Capital’s licence – InvestorDaily ASIC cancels Octani Capital’s licence Latest News Perth-based corporate advisory practice Octani Capital has had its Australian financial services licence cancelled by ASIC. By Reporter … Read the full article at: https://www.investordaily.com.au/regulation/42846-asic-cancels-octani-capital-s-licence
Nostalgia hasn’t translated into dollars in a long-shot effort to crowdfund a future for Toys R Us. Neither did efforts to recruit other toy makers. A campaign led by a billionaire toy executive who pledged $200 million with other investors in hopes of saving part of the bankrupt chain has foundered, with only $59,000 more…
Reserve Bank confirms resilient financial system Financial Stability Review Reserve Bank Financial Stability Review: The Reserve Bank has handed down the latest review of the financial system. The Australian financial system remains resilient and its ability to withstand adverse shocks continues to be strengthened. Household borrowing risks ease: Concerns about riskier types of new housing…
By: ENS Economic Bureau | New Delhi | Updated: April 13, 2018 3:18:18 am Supreme Court of India Binani Cements insolvency resolution could become a test case for the Insolvency and Bankruptcy Code (IBC), with the Supreme Court slated to start hearing the arguments in this case Friday. While the Committee of Creditors had earlier…
The financial affairs of controversial KwaZulu-Natal businessman Sunny Gayadin and how he managed to fund failed litigation over the ownership of Durbans Natal Command will come under scrutiny now that his company Giant Concerts has been placed in final liquidation. Gayadin died in May 2017. His body was found with a gunshot wound to his…
CLOSE Toys ‘R’ Us Chief Executive Dave Brandon addressing employees at the company’s Wayne headquarters on Wednesday, March 14, 2018. NorthJersey.com Going out of business signs at the Wayne Toys R Us.(Photo: Record staff) Story Highlights Liquidation sales generated about $150 million more than forecast for this stage. Court approved additional funding for Asian and…
Employees of Bhushan Steel Ltd recently objected to the bid from Tata Steel Ltd, which was eventually declared the successful applicant. Photo: Reuters Mumbai: Noting the key role of employees in companies undergoing bankruptcy proceedings, lenders and bidders are paying extra attention to ensure resolution plans take care of their interest to avoid any disruption in…
By Aishwarya Bagri Should homeowners be treated as financial creditors in the real estate sector? This was the question that the Insolvency Law Reforms Committee recently addressed. Set up in December 2017, the 14 member committee has published a 106 pages long report, suggesting various amendments to the Insolvency and Bankruptcy Code 2016. One such…