Zambia has ramped up the pressure on Konkola Copper Mines, the copper company controlled by Anil Agarwals Vedanta Resources. A day after President Edgar Lungu said he would strip KCM of its mining licence and bring in a new investor, Zambias High Court appointed a law firm called Lungu Simwanza & Company to act as…
Big-spending election loser Clive Palmer was absent from court as his lawyers were lambasted by a judge overseeing Queensland Nickels liquidation trial. Days after his federal election campaign failed to win his party a seat, Palmer on Tuesday sought to introduce evidence into the trial over his companys collapse that workers had started receiving their…
Australian LGBTIQ publication Star Observer has announced the company has entered voluntary administration and is up for sale. The publication announced on Thursday the board of directors of the company, Gay & Lesbian Community Publishing Limited, had appointed Trent McMillen from MaC Insolvency as administrator on Friday, May 10. Advertisements Cash flow is the lifeblood…
Essar Steel reports Rs 4,229 cr EBITDA during Corporate Insolvency Resolution period – Firstpost
Innumerable litigations, defiant promoters, failing sectors and over-burdened National Company Law Tribunals (NCLTs) have negatively impacted corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC) over the past two years, according to investment information and credit rating agency ICRA. Still, the process has chugged on, albeit at a slower pace than envisioned. Till…
New Delhi [India], May 19 (ANI): Innumerable litigations, defiant promoters, failing sectors and over-burdened National Company Law Tribunals (NCLTs) have negatively impacted corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC) over the past two years, according to investment information and credit rating agency ICRA. Still, the process has chugged on, albeit at…
New Delhi, May 19 Debt-ridden Essar Steel has registered an EBITDA (earnings before interest, tax, depreciation and amortization) of Rs 4,229 crore during its Corporate Insolvency Resolution period (over 600 days). In an affidavit filed before the National Company Law Appellate Tribunal (NCLAT) last week, its resolution professional has informed that the company earned Rs…
The Copy of Order passed by the National Company Law Tribunal (NCLT), Kolkata Bench on 09.05.2019 in the matter of Company Petition (IB) No. 628/KB/2018 alongwith CA (IB) Nos. 366/367/KB/2019 (RITESH MORE Vs MARSONS LIMITED)is enclosed herewith. Further more, as per Courts direction a Monitoring Committee has been formed to oversee the effective implementation of…
The National Company Law Tribunal, Hyderabad, has admitted Lanco Kondapalli Power Ltd for insolvency resolution process under the Insolvency and Bankruptcy Code, 2016. Axis Bank, the lender for the group company of Lanco Infratech Ltd, had dragged the Kondapalli project for insolvency proceedings following default in payment of statutory dues. Lanco Infratech Ltd, a listed…
LGBTI news journal Star Observer has entered voluntary administration due to drying up advertising revenue. The journal, which has been a staple for the LGBTI community since 1979, was founded by Michael Glynn at a time when gay men were facing violence from police. Star Observer chairman Sebastian Rice says it faced financial troubles due…