NEW DELHI: The NCLAT has said financial creditors cannot recover any amount from a defaulter’s bank account without the nod of the Interim Resolution Professional (IRP) during the corporate insolvency resolution process. Declining relief to the Indian Overseas Bank (IOB) against Amtek Auto‘s IRP Dinnkar T Venkatsubramaniam, the National Company Law Appellate Tribunal (NCLAT) said…
Will China Huishan Dairy’s lurch towards provisional liquidation trigger an exodus of foreign capital from the world’s second largest economy? Major Chinese and international banks are bracing themselves for a bruising battle after the debt-laden Huishan told the Hong Kong stock exchange last week that it had instructed its Cayman legal advisers to prepare documentation to place the…
Fraud detectives are investigating the visa-for-jobs scheme run by Sydney businessman Lubo Jack Raskovic, who is accused of leaving dozens of migrants tens of thousands of dollars out of pocket. The scheme, first revealed in a joint SBS-Fairfax investigation, offered hopeful migrants a regional job, as a pathway to a permanent-residency visa, in return for…
Fraud detectives are investigating the visa-for-jobs scheme run by Sydney businessman Lubo Jack Raskovic, who is accused of leaving dozens of migrants tens of thousands of dollars out of pocket. The scheme, first revealed in a joint SBS-Fairfax investigation, offered hopeful migrants a regional job, as a pathway to a permanent-residency visa, in return for…
With effect from 14 November 2017 Moser Baer (India) announced that the Corporate Insolvency Resolution Process (CIRP) in the matter of Moser Baer India (MBIL) has commenced w.e.f. 14 November 2017 pursuant to the order of Hon’ble NCLT, Principal Bench, New Delhi dated 14 November 2017. Powered by Ca… Read the full article at:…
Fraud detectives are investigating the visa-for-jobs scheme run by Sydney businessman Lubo Jack Raskovic, who is accused of leaving dozens of migrants tens of thousands of dollars out of pocket. The scheme, first revealed in a joint SBS-Fairfax investigation, offered hopeful migrants a regional job, as a pathway to a permanent-residency visa, in return for…
Insolvency & Bankruptcy Board of India chairman M.S. Sahoo will be a member of the committee to be led by the secretary at the ministry of corporate affairs. Photo: Priyanaka Prashar/Mint Mumbai: The government has set up a 14-member committee to review and improve the implementation of the insolvency and bankruptcy code (IBC) a year…
China Huishan Dairy Holdings, struggling under billions of dollars worth of debt, is preparing for provisional liquidation in a legal escalation of one of the most spectacular collapses of a Hong Kong-listed firm in recent years. Shares in the mainland group, once a hot property with investors, have been suspended since they plunged 85 per…
RugbyWA chairman Tony Howarth has described emotions in Western Australia as “angry, disappointed and frustrated” after it was confirmed the organisation had gone into voluntary administration on Friday. It comes just four months after Rugby Australia (formerly Australian Rugby Union) announced it would axe the Western Force from next year’s Super Rugby competition. RugbyWA has…
Embattled China Huishan Dairy Holdings has instructed lawyers to prepare for its provisional liquidation after finding more debt, leaving some of the top lenders in Asia vulnerable. According to a filing to the Hong Kong stock exchange on Thursday, the net liabilities of the Liaoning-based firms China entities could have been 10.5 billion yuan (US$1.58…