The Supreme Court held that the pendency of a counterclaim for damages against a financial creditor does not operate as a legal bar to the initiation of corporate insolvency resolution proceedings when the existence of financial debt and default is otherwise established in accordance with the Insolvency and Bankruptcy Code, 2016. The Court was hearing…
Going forward, the ruling is also expected to alter credit assessment frameworks, with lenders likely to reassess the nature of security available while extending loans to telecom companies, bankers said. A senior banker, speaking on condition of anonymity, said that with this ruling, the recovery from the two corporate insolvency cases…
Century-Old South African Sugar Mill on Brink of Collapse, Again Bloomberg Read the original article here
Money Management can confirm that Advice Intelligence is in financial difficulty and has entered voluntary administration. “Advice Intelligence has entered voluntary administration following the decision from their investor, Regal Funds Management (Phil King), opting to withdraw future funding. This decision is founded upon a landscape of high-interest rates, economic uncertainty, and the overall tightness of…
Paypal Melbourne Fashion Festival Turns 30 With Runways, Panels, Screenings and More Fashion The 15-day festival is back this month, and celebrating its three decades. There’ll be a play on Melbourne’s all-black “uniform”, maximalist and avant-garde showings, a mix of emerging and established talent, and even an extension in Geelong. Read the original article here
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Barbeques Galore entered voluntary administration this week. Picture: Barbeques Galore The financial collapse of Barbeques Galore spells trouble for a great Australian tradition, but is a sign of cost of living pressures and some people speculate to be a result of modern apartment living. On Thursday, Barbeques Galore announced it had fallen into voluntary administration,…
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Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…