Insolvency Guardian Media Centre
Property giant China Evergrande Group has said that it cannot sell properties and other assets fast enough to service its massive $300bn debts, and that its cashflow was under tremendous pressure.
Only hours after angry investors besieged its Shenzhen headquarters and the company denied it was set for bankruptcy, Evergrande issued a statement to the Hong Kong stock exchange saying that a significant drop in sales would continue this month, which was likely to further deteriorate its liquidity and cash flow.
The company blamed ongoing negative media reports for dampening investor confidence, resulting in a further decline in sales in September usually a strong month for sales in China.
Evergrande also said two of its subsidiaries had failed…
Read the full article at: https://www.theguardian.com/world/2021/sep/14/china-property-giant-evergrande-admits-debt-crisis-as-protesters-besiege-hq
TheMustard Seed has declared bankruptcy and announced it is closing its doors.
In an email to members sent Monday and obtained by CBC, the boardsaysits unsecured debts exceedits assetsby “well over $300,000.”
“On declaration of bankruptcy the volunteer board had to resign,” the email said. “All the staff have lost their jobs. This is an unfortunate impact of the bankruptcy.”
In a post on Instagram that starts with “FAREWELL,” the Hamilton co-op thanked supporters and said “the lights are now off.”
“It is very difficult to be writing this as there are so many things left to say,” it reads. “It’s been a pleasure to have served you for the last 7+ years.”
CBC has reached out to the co-op and its board for comment.
The co-op is located o…
Read the full article at: https://www.cbc.ca/news/canada/hamilton/mustard-seed-cop-op-closed-1.6159353
![Best Debt Consolidation Loans For People With Bad Credit [2021 Update]](https://theislandnow.com/wp-content/uploads/2021/09/wgdWqkVS1ZDkQhZPWnFMEK1bHjZ5b6EWsXyVnHGeKNuTOpFJ2t1GT7Jq67iAhA42ky8fXM7JivwWr8bxlJ1LhZYo1mlyePKfh_rE2-8c8NbWIn8EOSnvz3SOSyqI7As0-768x512.jpg "Best Debt Consolidation Loans For People With Bad Credit [2021 Update]")
In todays busy world, you need to make things as easy as you possibly can. One way to do that is by using debt consolidation to manage your outstanding monthly payments. You can pay everything off in one easy payment each month, making it easier to settle your outstanding balances and keep track of your multiple debts.
Some people may do this using the best debt consolidation loans, which is what we are going to discuss in this article. The benefits of this approach are outstanding. For example, you may be able to take advantage of a lower interest rate on your debt consolidation loans. So, let us learn more about the best services to consider for debt consolidation.
Our Picks of the Best Debt Consolidation Loan Services of Septembe…
Read the full article at: https://theislandnow.com/blog-112/best-debt-consolidation-loans/
- Company law tribunals must therefore remain mindful that inordinate delays cause commercial uncertainty, degradation in the value of the corporate debtor and makes the insolvency process inefficient and expensive.
By Utkarsh Anand, Hindustan Times, New Delhi
UPDATED ON SEP 14, 2021 04:27 AM IST
The Supreme Court on Monday said judicial delay was the main reason for the failure of the insolvency regime in India prior to the 2016 Insolvency and Bankruptcy Code (IBC), as it urged company law tribunals to strictly adhere to the timelines under the new law and clear pending resolution plans.
A bench of Justices DY Chandrachud and MR Shah emphasised that the IBC mandates a 330-day outer limit for conclusion of the corporate insolve…
Read the full article at: https://www.hindustantimes.com/business/sc-urges-company-tribunals-to-quickly-clear-ibc-cases-101631573560070.html
Algerina Perna | Baltimore Sun | MCT | Getty Images
It appears Americans are definitely ready to bet on football.
Heading into the National Football League’s 102nd season which kicked off last week about 45.2 million Americans said they plan to wager on games, up about 36% from a year ago, according to research from the American Gaming Association. The growth comes as half of states now offer legalized sports betting and more are gearing up to do so.
That means your winning bets could be subject to taxation even before it reaches you, depending on how big it is. And if you win money through unregulated channels, you’re expected to fess up to the IRS at tax time.
“Whether you enjoy bets on races, join a fantasy football le…
Read the full article at: https://www.cnbc.com/2021/09/13/football-betting-is-in-full-swing-dont-forget-the-taxman-if-you-win.html
The Supreme Court on Monday held that the National Company Law Tribunal (NCLT) cannot permit withdrawals or modifications of a successful resolution plan, once it has been submitted to it after due compliance with the procedural requirements and timelines, solely at the behest of the resolution applicant.
This would only create another tier of negotiations wholly unregulated by the Insolvency and Bankruptcy Code (IBC), the apex court observed.
Since the 330 days outer limit of the Corporate Insolvency Resolution Proceedings (CIRP) under Section 12(3) of the IBC, including judicial proceedings, can be extended only in exceptional circumstances, this open-ended process for further negotiations or a withdrawal, would have a deleterious imp…
Read the full article at: https://www.thehindu.com/business/Industry/nclt-cant-allow-tweaks-in-a-successful-resolution-plan-sc/article36441244.ece
NEW DELHI : The Supreme Court on Monday said judicial delay” was the main reason for the failure of the insolvency regime in India prior to the 2016 Insolvency and Bankruptcy Code (IBC), as it urged company law tribunals to strictly adhere” to the timelines under the new law and clear pending resolution plans.
A bench of Justices D.Y. Chandrachud and M.R. Shah emphasised that the IBC mandates a 330-day outer limit for conclusion of the corporate insolvency resolution process (CIRP). Company law tribunals must therefore remain mindful that inordinate delays cause commercial uncertainty, degradation in the value of the corporate debtor and makes the insolvency process inefficient and expensive.
Judicial delay was one of the major reas…
Read the full article at: https://www.livemint.com/companies/news/sc-urges-company-law-tribunals-to-clear-ibc-cases-fast-11631557199918.html
An inquiry into Australia’s proposed ban on credit card betting heard widespread support for the move, but also warnings that further action would need to be taken to ensure it is effective.
The bill, titled the Interactive Gambling Amendment (Prohibition on Credit Card Use) Bill 2020, was filed in April 2021.
The Environment and Communications Legislation Committee heard evidence submissions from numerous bodies after inviting Australian administrative groups to share their opinions on the bill.
In its submission, the Australian Institute on Family Studies cited the Great Britains success in banning credit cards for gambling use in April 2020 as grounds for moving ahead. It said that the need to implement the ban was informed by the Ga…
Read the full article at: https://igamingbusiness.com/aus-bodies-support-credit-card-betting-ban-but-call-for-more-controls/
Jet Airways will reportedly recommence operations in the first quarter of 2022 under new owners the Jalan-Kalrock consortium more than two years after it shuttered amid financial woes.
Indian news reports, citing consortium lead member and businessman Murari Lal Jalan, say the carrier will resume domestic operations first, before expanding to short-haul destinations in the second-half of the year.
Jalan was also quoted as stating that the airline aims to have more than 50 aircraft three years after commencing operations, which will grow to 100 examples in five years.
Jalan, who is the founder of Dubai-based MJ Developers, did not state which specific aircraft type the airline might operate, except to say that the aircraft are being…
Read the full article at: https://www.flightglobal.com/strategy/jet-airways-set-for-2022-revival-reports/145439.article
Raising concern over delays in corporate insolvency resolution processes (CIRP), the #SupremeCourt on Monday asked the National Company Law Tribunal and the National Company Law Appellate Tribunal to strictly adhere to the mandated 330-day timeline. pic.twitter.com/yMMSonvO4G IANS Tweets (@ians_india) September 13, 2021
(SocialLY brings you all the latest breaking news, viral trends and information from social media world, including Twitter, Instagram and Youtube. The above post is embeded directly from the user’s social media account and LatestLY Staff may not have modified or edited the content body. The views and facts appearing in the social media post do not reflect the opinions of LatestLY, also LatestLY does not assume any re…
Read the full article at: https://www.latestly.com/socially/india/news/raising-concern-over-delays-in-corporate-insolvency-resolution-processes-the-latest-tweet-by-ians-tweets-2845443.html
The Mumbai bench of National Company Law Tribunal has admitted a personal insolvency petition against Venugopal Dhoot, erstwhile promoter and personal guarantor of Videocon Industries Ltd., filed by its financial creditor State Bank of India.While the oral order was pronounced on Sept. 1, the detailed order has been made available now.Total debt due from Dhoot’s personal guarantee stood at Rs 6,157 crore as on May 2020, the order sai…
The Mumbai bench of National Company Law Tribunal has admitted a personal insolvency petition against Venugopal Dhoot, erstwhile promoter and personal guarantor of Videocon Industries Ltd., filed by its financial…
Read the full article at: https://www.bloombergquint.com/law-and-policy/nclt-admits-sbis-personal-insolvency-application-against-venugopal-dhoot
Nok Air has outlined plans for a capital and debt restructuring alongside its ongoing business rehabilitation process to improve its financial health and avoid being delisted from the Stock Exchange of Thailand (SET).
On 9 September, the SET warned Nok that it was subject to possible delisting and has given the airline one month until 8 October to set a timeline to implement its rehabilitation plan.
In a 10 September disclosure to the Stock Exchange of Thailand, the carrier outlined measures it said it would take to remedy its negative shareholder equity and return to profitability.
The measures include the improvement of its fleet, including the types of aircraft it operates, to make it suitable for current situation and reduce cos…
Read the full article at: https://www.flightglobal.com/airlines/nok-air-plans-capital-and-debt-restructuring-to-avoid-delisting/145443.article
Go to Top
Call Now Button
- Company law tribunals must therefore remain mindful that inordinate delays cause commercial uncertainty, degradation in the value of the corporate debtor and makes the insolvency process inefficient and expensive.
UPDATED ON SEP 14, 2021 04:27 AM IST
The Supreme Court on Monday said judicial delay was the main reason for the failure of the insolvency regime in India prior to the 2016 Insolvency and Bankruptcy Code (IBC), as it urged company law tribunals to strictly adhere to the timelines under the new law and clear pending resolution plans.
A bench of Justices DY Chandrachud and MR Shah emphasised that the IBC mandates a 330-day outer limit for conclusion of the corporate insolve…
Read the full article at: https://www.hindustantimes.com/business/sc-urges-company-tribunals-to-quickly-clear-ibc-cases-101631573560070.html
Algerina Perna | Baltimore Sun | MCT | Getty Images
It appears Americans are definitely ready to bet on football.
Heading into the National Football League’s 102nd season which kicked off last week about 45.2 million Americans said they plan to wager on games, up about 36% from a year ago, according to research from the American Gaming Association. The growth comes as half of states now offer legalized sports betting and more are gearing up to do so.
That means your winning bets could be subject to taxation even before it reaches you, depending on how big it is. And if you win money through unregulated channels, you’re expected to fess up to the IRS at tax time.
“Whether you enjoy bets on races, join a fantasy football le…
Read the full article at: https://www.cnbc.com/2021/09/13/football-betting-is-in-full-swing-dont-forget-the-taxman-if-you-win.html
The Supreme Court on Monday held that the National Company Law Tribunal (NCLT) cannot permit withdrawals or modifications of a successful resolution plan, once it has been submitted to it after due compliance with the procedural requirements and timelines, solely at the behest of the resolution applicant.
This would only create another tier of negotiations wholly unregulated by the Insolvency and Bankruptcy Code (IBC), the apex court observed.
Since the 330 days outer limit of the Corporate Insolvency Resolution Proceedings (CIRP) under Section 12(3) of the IBC, including judicial proceedings, can be extended only in exceptional circumstances, this open-ended process for further negotiations or a withdrawal, would have a deleterious imp…
Read the full article at: https://www.thehindu.com/business/Industry/nclt-cant-allow-tweaks-in-a-successful-resolution-plan-sc/article36441244.ece
NEW DELHI : The Supreme Court on Monday said judicial delay” was the main reason for the failure of the insolvency regime in India prior to the 2016 Insolvency and Bankruptcy Code (IBC), as it urged company law tribunals to strictly adhere” to the timelines under the new law and clear pending resolution plans.
A bench of Justices D.Y. Chandrachud and M.R. Shah emphasised that the IBC mandates a 330-day outer limit for conclusion of the corporate insolvency resolution process (CIRP). Company law tribunals must therefore remain mindful that inordinate delays cause commercial uncertainty, degradation in the value of the corporate debtor and makes the insolvency process inefficient and expensive.
Judicial delay was one of the major reas…
Read the full article at: https://www.livemint.com/companies/news/sc-urges-company-law-tribunals-to-clear-ibc-cases-fast-11631557199918.html
An inquiry into Australia’s proposed ban on credit card betting heard widespread support for the move, but also warnings that further action would need to be taken to ensure it is effective.
The bill, titled the Interactive Gambling Amendment (Prohibition on Credit Card Use) Bill 2020, was filed in April 2021.
The Environment and Communications Legislation Committee heard evidence submissions from numerous bodies after inviting Australian administrative groups to share their opinions on the bill.
In its submission, the Australian Institute on Family Studies cited the Great Britains success in banning credit cards for gambling use in April 2020 as grounds for moving ahead. It said that the need to implement the ban was informed by the Ga…
Read the full article at: https://igamingbusiness.com/aus-bodies-support-credit-card-betting-ban-but-call-for-more-controls/
Jet Airways will reportedly recommence operations in the first quarter of 2022 under new owners the Jalan-Kalrock consortium more than two years after it shuttered amid financial woes.
Indian news reports, citing consortium lead member and businessman Murari Lal Jalan, say the carrier will resume domestic operations first, before expanding to short-haul destinations in the second-half of the year.
Jalan was also quoted as stating that the airline aims to have more than 50 aircraft three years after commencing operations, which will grow to 100 examples in five years.
Jalan, who is the founder of Dubai-based MJ Developers, did not state which specific aircraft type the airline might operate, except to say that the aircraft are being…
Read the full article at: https://www.flightglobal.com/strategy/jet-airways-set-for-2022-revival-reports/145439.article
Raising concern over delays in corporate insolvency resolution processes (CIRP), the #SupremeCourt on Monday asked the National Company Law Tribunal and the National Company Law Appellate Tribunal to strictly adhere to the mandated 330-day timeline. pic.twitter.com/yMMSonvO4G IANS Tweets (@ians_india) September 13, 2021
(SocialLY brings you all the latest breaking news, viral trends and information from social media world, including Twitter, Instagram and Youtube. The above post is embeded directly from the user’s social media account and LatestLY Staff may not have modified or edited the content body. The views and facts appearing in the social media post do not reflect the opinions of LatestLY, also LatestLY does not assume any re…
Read the full article at: https://www.latestly.com/socially/india/news/raising-concern-over-delays-in-corporate-insolvency-resolution-processes-the-latest-tweet-by-ians-tweets-2845443.html
The Mumbai bench of National Company Law Tribunal has admitted a personal insolvency petition against Venugopal Dhoot, erstwhile promoter and personal guarantor of Videocon Industries Ltd., filed by its financial creditor State Bank of India.While the oral order was pronounced on Sept. 1, the detailed order has been made available now.Total debt due from Dhoot’s personal guarantee stood at Rs 6,157 crore as on May 2020, the order sai…
The Mumbai bench of National Company Law Tribunal has admitted a personal insolvency petition against Venugopal Dhoot, erstwhile promoter and personal guarantor of Videocon Industries Ltd., filed by its financial…
Read the full article at: https://www.bloombergquint.com/law-and-policy/nclt-admits-sbis-personal-insolvency-application-against-venugopal-dhoot
Nok Air has outlined plans for a capital and debt restructuring alongside its ongoing business rehabilitation process to improve its financial health and avoid being delisted from the Stock Exchange of Thailand (SET).
On 9 September, the SET warned Nok that it was subject to possible delisting and has given the airline one month until 8 October to set a timeline to implement its rehabilitation plan.
In a 10 September disclosure to the Stock Exchange of Thailand, the carrier outlined measures it said it would take to remedy its negative shareholder equity and return to profitability.
The measures include the improvement of its fleet, including the types of aircraft it operates, to make it suitable for current situation and reduce cos…
Read the full article at: https://www.flightglobal.com/airlines/nok-air-plans-capital-and-debt-restructuring-to-avoid-delisting/145443.article