IBC Ordinance will improve borrowing culture: Corporate Affairs Secretary – Economic Times

NEW DELHI: The ordinance aimed at keeping promoters who are wilful defaulters from bidding for their companies during the insolvency process was the result of lengthy deliberations and will improve the lending and borrowing culture in the country, corporate affairs secretary Injeti Srinivas told ET. Further changes to the Insolvency and Bankruptcy Code (IBC) will…

Oroton declares voluntary administration, becoming latest casualty of Aussie retail carnage – ABC Online

The well-known Australian handbag and accessories retailer Oroton has gone into voluntary administration. Key points: Oroton says no jobs in jeopardy at this stage Company reported a loss of $14.2m for the 2016-17 financial year Pumpkin Patch, Marcs, David Lawrence, Herringbone also went under in the past 18 months In a statement to the…

What does going into administration mean and which UK companies have gone bust? From P&H to Monarch – The Sun

WHOLESALER P&H has become the latest company to go into administration leaving employees out of a job. The company, which provides tobacco to some of the UK’s largest supermarkets, has been crippled by debts and 2,500 jobs have been lost. PA:Press Association What does going into administration mean? When a company enters administration, all control…