Move seen as precursor to LIC IPO; 5% minimum public shareholding compulsory on IBC relisting TopicsIPO|LIC |market cap Easier dilution norms for mega initial public offerings (IPOs) have come into effect. Companies with post-listing market capitalisation (m-cap) of more than Rs 1 trillion will not be required to dilute a minimum of 10 per cent.…
A company director who owes businesses $20 million after his company went broke on an Andrews government road project has been accused of siphoning cash from a company he partly owned. More than 200 civil construction firms were left thousands of dollars out of pocket on the $1.8 billion Western Roads Upgrade after a major…
A partner with experience in aviation finance, restructuring and insolvency matters in Asia has joined K&… A partner with experience in aviation finance, restructuring and insolvency matters in Asia has joined K&L Gates Hong Kong finance practice. Eugene Yeung has joined K&L Gates Hong Kong finance practice as a partner after three years at Pillsbury…
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Darren Antony Reynolds, 51, from Willenhall, West Midlands, was the sole director of Active Wealth (UK) Limited, an independent financial advice company. A chartered financial planner, Reynolds advised hundreds of clients on the best way to invest their pension funds from December 2014 to the companys liquidation in February 2018. Following Active Wealths liquidation, an…
A lifeline for struggling businesses in the United Kingdom the most significant insolvency reforms for a generationCorporate Insolvency and Governance Act 2020The Corporate Insolvency and Governance Act 2020 (the Act) entered into force on 26 June 2020. The Act represents the most significant reforms to the insolvency framework in the United Kingdom since, at least,…
Law360 is providing free access to its coronavirus coverage to make sure all members of the legal community have accurate information in this time of uncertainty and change. Use the form below to sign up for any of our weekly newsletters. Signing up for any of our section newsletters will opt you in to the…
York-based family owned business, Riccall Carers Ltd, has ceased trading after more than 20 years of providing home care for vulnerable and elderly people throughout York and Selby. The business was established in 1998 and provided personal care home visits to around 180 private and local authority-funded clients in the region. It held contracts with…
OXLEY HOLDINGS LIMITED (Incorporated in the Republic of Singapore under Registration No. 201005612G) UPDATE ON SUBSIDIARIES UNDER VOLUNTARY ADMINISTRATION IN AUSTRALIA The Board of Directors of Oxley Holdings Limited (the “Company“, and together with its subsidiaries, the “Group“) refers to the announcement on 18 May 2021 relating to the appointment of voluntary administrators by the…
Bankruptcy tribunal NCLT has raised doubts over “confidentiality” of the liquidation valuation of the assets of Videocon Industries and its 12 group companies during the insolvency process. The tribunal has asked the Insolvency and Bankruptcy Board of India (IBBI) “to examine this issue in depth” to ensure that the confidentiality clause is followed without any…