NEW DELHI: Home buyers can now seek relief as financial creditors from bankrupt builders, and resolution professionals will have to determine within a stipulated time whether a corporate debtor undergoing bankruptcy resolution had indulged in a fraudulent transaction. The Insolvency and Bankruptcy Board of India (IBBI) has notified revised regulations for insolvency law, incorporating the…
Regional airline JetGo will be liquidated after a western New South Wales council was successful in its application in the Supreme Court today to wind up the company. JetGo serviced cities across regional Australia including Wollongong, Dubbo, Wagga Wagga, Albury, Rockhampton, Townsville, and Karratha. The company entered voluntary administration on June 1 and grounded…
Broome-based cruise ship business Ahoy Buccaneers has gone into voluntary administration. The management of operating company Bloo Moons Pty Ltd is now the responsibility of administrators Matthew Woods and Hayden White of KPMG Perth. A creditors meeting will be held at the Mercure Hotel in Broome on Monday (July 9) at 2.30pm. Prior to the…
Johnson Winter & Slattery (JWS) has elevated 12 senior lawyers as part of its latest promotions round. Five lawyers join the firms partnership, while the firm has also appointed a new special counsel and six new senior associates. JWS now lists 66 partners on its site. The new partners are Pravin Aathreya, Frances Dreyer, Andy…
Insolvency regulator IBBI has come out with a model timeline for the corporate insolvency resolution process (CIRP). The timeline has been spelt out assuming that the interim resolution professional (IRP) is appointed on the date of commencement of the process and the time available is 180 days, the Insolvency and Bankruptcy Board of India (IBBI)…
Johnson Winter & Slattery (JWS) has elevated 12 senior lawyers as part of its latest promotions round. Five lawyers join the firms partnership, while the firm has also appointed a new special counsel and six new senior associates. JWS now lists 66 partners on its site. The new partners are Pravin Aathreya, Frances Dreyer, Andy…
MUMBAI: Unrest is brewing at bankrupt Aircel, where theres been no sign of progress on selling assets as the insolvency resolution process passes the midway stage, prompting fears the company may be headed for liquidation. At a meeting last week, lenders rejected proposals to sell the telcos optic fibre network and scrap and to pay…
Fewer companies wound up operations in Cayman last year as opposed to 2016. These are the findings of the Offshore Corporate Insolvency Restructuring Annual Review 2017 compiled by Applebys. For 2017 40 companies filed insolvency petitions in the Caymans jurisdiction, as opposed to 70 in 2016. Dispute resolution partner at…
Fewer companies wound up operations in Cayman last year as opposed to 2016. These are the findings of the Offshore Corporate Insolvency Restructuring Annual Review 2017 compiled by Applebys. For 2017 40 companies filed insolvency petitions in the Caymans jurisdiction, as opposed to 70 in 2016. Dispute resolution partner at…
The BEE partners in a subsidiary of Tubular Technical Construction (TTC) applied for provisional liquidation of the company after it failed to honour an agreement to pay R24 million in outstanding dividends. TTC had paid R11 million out of an agreed R35 million, but had fallen into arrears to the tune of R8.45 million, according to…