National Company Law Tribunal (NCLT) Chairman Justice M M Kumar today said that Article 14 of the Constitution (right to equality) can be invoked if the committee of creditors violates the Insolvency and Bankruptcy Code law while examining business restructuring plan and proposals. “Article 14 of the Constitution can come in case of COCs (committee…
Fri, Apr 20, 2018 – 8:59 AM GOLDILOCKS Investment Company on Friday said it is working on an alternative restructuring plan for Noble Group with other investors, and called on shareholders to repopulate the Noble board in support of its initiatives. “Goldilocks and a consortium of like-minded investors are prepared to provide Noble with working…
National Australia Bank has flagged $755 million of pre-tax restructuring costs, putting the hit close to the upper end of its first-half guidance. NAB previously outlined a cost of between $500 million and $800 million, largely related to redundancies. The lender in November announced it will slash 4,000 jobs over the next three years as…
The Tata groups plan to exit the hydrocarbon sector as part of its business restructuring plan, and has thus put up Tata Petrodyne assets for sale. Photo: Bloomberg Mumbai: Tata Petrodyne Ltd, which has put up its six oil and gas blocks for sale, is yet to find interest from buyers, two people aware of…
Qualcomm has begun axing employees in an attempt to cut annual operating costs by up to $1 billion. what’s hot on zdnet As reported by Reuters, a spokesperson for the US chipmaker said on Wednesday that “Qualcomm is conducting a reduction of our full-time and temporary workforce.” However, the company would not disclose how many…
Morgan Stanley just posted its best fixed income results in three years. The bump came even after Morgan Stanley massively cut headcount and capital in its bond trading unit at the end of 2015. Morgan Stanleys fixed income results of $US1.9 billion were slightly behind those of rival Goldman Sachs. Among the standouts in Morgan…
By Eric Onstad and Polina Devitt LONDON/MOSCOW (Reuters) – Russia’s Rusal may be forced to divest most of its portfolio of overseas operations if the aluminium giant cannot restructure them to evade U.S. sanctions and ensure a flow of raw materials. U.S. sanctions imposed against key allies of Russian President Putin have already…
Fladgate LLP has advised Alyssum Group Ltd and its principal subsidiary Fly Victor Ltd on its corporate restructuring. Victor is a leading on-demand B2C jet charter platform driving disruption across the private aviation industry. Launched in 2011, the companys B2C offering rewrote the jet charter rulebook with a fully-transparent, subscription-free, globally on-demand marketplace allowing members…
April 16 (Reuters) – Ideal Power Inc: * IDEAL POWER ANNOUNCES EXECUTIVE MANAGEMENT TEAM CHANGES AND CORPORATE RESTRUCTURING TO SUPPORT RECENT PROGRESS WITH PPSA AND B-TRAN TECHNOLOGIES * IDEAL POWER INC – EFFECTIVE TODAY, IDEAL POWER HAS REALIGNED INTO TWO SEPARATE OPERATING DIVISIONS; POWER CONVERSION SYSTEMS AND B-TRAN * IDEAL POWER INC – FORMER CHIEF…
Fladgate LLP has advised Alyssum Group Ltd and its principal subsidiary Fly Victor Ltd on its corporate restructuring. Victor is a leading on-demand B2C jet charter platform driving disruption across the private aviation industry. Launched in 2011, the companys B2C offering rewrote the jet charter rulebook with a fully-transparent, subscription-free, globally on-demand marketplace allowing members…