The wait for investors to acquire some of the $210 billion of stressed assets up for grabs in India is likely to get longer. Thats because creditors are afraid to take decisions. Current and former top bankers from at least four state-run lenders are under investigation for alleged impropriety over their lending decisions, while the…
We seem to have lost sight of the laudable objective of reviving an entity. Photo: iStockphoto The Insolvency and Bankruptcy Code (IBC) of 2016 was meant to signal a break from the past. While there were larger macroeconomic objectives at play, such as solving the twin balance-sheet problem, developing a robust corporate bond market, improving…
KR Srivats The Insolvency and Bankruptcy Board of India (IBBI) may shortly go for some light touch regulations on the increasingly controversial aspect of fees quoted by insolvency professionals (IPs) handling corporate insolvency resolution processes (CIRP). The regulations will seek to improve transparency (disclosures) and promote best practices in the area of compensation for IPs…
Cape Town Telkom [JSE:TKG] announced on Monday that it would be cutting ties with Nkonki Inc as its joint auditors following developments that have led the latter to undergo voluntary liquidation. The company said, as per its announcement in August 2017 it was prepared to procure from Nkonki Inc as its external audit services to…
Image: Michelle – Ranson Media Perth Fringe World has taken legal action against independent promoter JumpClimb Pty Ltd, which staged shows under the festivals banner, and then collapsed leaving artists and contractors unpaid to the tune of an estimated $200,000. Fringe World is moving to put JumpClimb in administration to try and claw back the…
MURRAY WILSON/STUFF After 51 years, Manawat TV and Sound has closed its doors. A Palmerston North home audio services business has closed after more than 50 years. Manawat TV and Sound Services, on south-west corner of The Square, was put into liquidation last month, 51 years and one day after it registered with the New…
There was much hype surrounding the auction of Russell Drysdale’s painting Grandma’s Sunday Walk. Painted by the Australian artist in 1972 just before his eyesight started to fail, the depiction of outback life was touted as a “10 out of 10” painting a “masterpiece” that was sure to fetch a big price. “We’re very…
New Norcias Benedictine monks are seeking to sever links to one of Perths best known artisanal bakers after the collapse of the company behind New Norcia Bakeries. It is understood the monks have asked for the return of the New Norcia name held under license by New Norcia Bakeries owners from the Benedictine community for…
Recommendations made by the committee to the Government of India regarding the changes in bankruptcy laws May 4, 2018 4 min read Opinions expressed by Entrepreneur contributors are their own. You’re reading Entrepreneur India, an international franchise of Entrepreneur Media. The Government of India after the introduction of I&B Code 2016 was receiving representation from…
May 4 (Reuters) – COPsync Inc: * COPSYNC INC – CO FILED IN BANKRUPTCY COURT PROPOSED PLAN OF LIQUIDATION PURSUANT TO CHAPTER 11 OF U.S. BANKRUPTCY CODE & DEBTORS DISCLOSURE STATEMENT * COPSYNC INC – ON MAY 1, 2018, COURT ENTERED AN ORDER SCHEDULING A HEARING ON JUNE 12, 2018, TO CONSIDER APPROVAL OF DISCLOSURE…