Jet Airways on Saturday said one of its wide-body Boeing 777 aircraft, which was under the custody of the Dutch Administrator due to the insolvency proceedings against the company in the Netherlands, has been sold, and the proceedings will mainly be utilised to close the process.
Jet Airways is facing insolvency proceedings in the Netherlands in response to a complaint, where it was declared bankrupt in response to a complaint by two European creditors.
This is now to inform that as per the information received from the Dutch Administrator, the equipment (the aircraft) under the custody of the Dutch Administrator has been sold to IAGCAS 777, LLC, for USD 9-million under the Dutch Insolvency Process, Jet Airways Monitoring Committ…
Read the full article at: https://www.defenceaviationpost.com/2021/09/jet-airways-boeing-777-sold-in-netherlands-insolvency-process-to-close-now/
Serial entrepreneur C Sivasankaran, promoter of Siva Industries, has filed an appeal in the National Company Law Appellate Tribunal (NCLAT), Chennai, against the recent order of the National Company Law Tribunal (NCLT), Chennai, on liquidation of Siva Industries.
The matter is listed for hearing on Monday.
The NCLT, on August 12, ordered liquidation of Siva Industries and rejected lenders proposal to withdraw the company from bankruptcy proceedings. It also rejected the application filed by Resolution Professional of Siva Industries.
The NCLT Bench said thatboth the Committee of Creditors (CoC) and promoter of the corporate debtor had not reached a final decision as per Clause 2 of Chapter VIII of the settlement proposal. Hence based on…
Read the full article at: https://www.thehindubusinessline.com/companies/c-sivasankaran-files-appeal-against-order-on-siva-industries-liquidation/article36301403.ece?homepage=true
In its second annual list, ALB showcases outstanding private practitioners in India when it comes to client service. These lawyers were selected based on client recommendations sent directly to ALB. The list is in alphabetical order, and some lawyers have been profiled.
VINEET ANEJA, managing partner and head of corporate practice, Clasis Law
Aneja, who has been with Clasis Law for over a decade, is an expert in compliance and regulatory, corporate and commercial, foreign direct investment, hospitality and leisure, labour and employment, private equity, retail, and white-collar crime.
Aneja has counselled numerous clients from various sectors on different matters. Among some of his significant work, he advised a Mexico-based fund in r…
Read the full article at: https://au.legalbusinessonline.com/features/alb-india-super-50-lawyers-2021
BELGRADE (Serbia), September 6 (SeeNews) – Serbian company Konvar has acquired the assets of bankrupt pharmaceutical firm Jugoremedija from Czech Republic-based APS Capital Group’s subsidiary Project One for an undisclosed sum, data from the country’s commercial register showed on Monday.
The ownership change at Jugoremedija was entered into the register on August 30, according to a decision on amendments to the company’s articles of association posted on the website of the register.
Serious preparations for an overhaul of Jugoremedija’s factory in Zrenjanin have started, Serbian daily Danas quoted the insolvency administrator of Jugoremedija, Radovan Savic, as saying on Monday.
Project One acquired Jugoremedija last year after prop…
Read the full article at: https://seenews.com/news/serbias-konvar-acquires-jugoremedijas-assets-753089
Dear Penny,
Were a middle-age married couple without kids or a mortgage. Weve been married for a few years, and my partner has had a gambling problem since before our marriage.
The issue escalated during the pandemic. Though our income decreased, the more time available meant more gambling time to him. I took several loans to cover his debts, and I was paying everything for him. Fortunately, our income level came back to the previous level. We managed to clear off all the loans, but he still owes me six digits, including the amount I lent him before marriage.
Despite all of that, he insists that our income from now on is our shared asset and isnt going into my pocket. I think his income should go into my pocket until he pays off the $15…
Read the full article at: https://www.tampabay.com/news/business/2021/09/06/dear-penny-am-i-greedy-if-i-make-my-husband-repay-me-for-150k-gambling-loss/
The Scottish Government has teamed up with StepChange Debt Charity Scotland, to launch a new handbook designed to help improve access to free advice services for struggling Scots.
The Scotland Debt Guide is being introduced at a time of widespread financial distress in Scotland after polling showed that thousands of people are struggling with debt and are behind on essential bills like Council Tax and rent, with more than a fifth using credit to make ends meet and cover essential costs.
- With support measures such as furlough coming to an end, 20 a week due to be cut from Universal Credit at the end of this month, and energy bills set to rise for 15 million households across the UK from October 1, the debt advice sector is expecting de…
Read the full article at: https://www.dailyrecord.co.uk/lifestyle/money/charity-launches-new-debt-guide-24917173
The insolvency regulator has called for public comments on a proposal to introduce a code of conduct for Committees of Creditors (CoC), of companies undergoing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC). We examine the need for a code of conduct for the CoC and key issues raised in the proposed policy.
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Why is a code of conduct necessary for CoCs?
Under the IBC, a CoC composed of financial creditors to the Corporate Debtor (CD) or operational creditors in the absence of unrelated financial creditors is empowered to take key decisions, including decisions on haircuts for creditors, that are binding on all stakeholders, including those dissenting.
…
Read the full article at: https://indianexpress.com/article/explained/new-code-creditors-ibc-bhushan-steel-sterling-biotech-cases-7491860/
Mallinckrodt looks like it could join Purdue Pharma in reaching a settlement in its bankruptcy proceedings related to opioid litigation, after years of legal wrangling.
The Ireland-headquartered pharma company filed for bankruptcy last year, after proposing a $1.6 billion payout to settle lawsuits claiming that its marketing of opioid painkillers helped to fuel an epidemic in addiction that has claimed hundreds of thousands of lives in the US alone.
Now, it has reached an agreement with creditors that would increase that settlement payment to $1.7 billion, which will be paid into a trust that will be used to support people whose lives have been affected by opioid use, according to documents submitted to the Securities & Exchange Commiss…
Read the full article at: https://pharmaphorum.com/news/mallinckrodt-moves-closer-to-resolving-its-opioid-liability-hangover/
Rounders was quite a moderate hit at the box office when it came out but later on, with the rise of casinos and online casinos and the popularity of poker, this movie became one of the most famous. A Rounder is someone who travels around, hopping from one city to another city, competing in high stakes poker or any card games.
The Rounders portrays a story that is the epitome of Hollywoods main lead- he is smart, successful and even if he loses, he wins in the end. In real life, this would hardly happen but that is the charm of the film. Janet Maslin wrote for The New York Times that this movie is mischievously entertaining. This movie might just be promoting the utopian dream for Poker fans. The Rounders made around $22.9 million withi…
Read the full article at: https://thefranchisehound.com/rounders-how-not-to-lose/
Jet Airways has announced that its wide-body Boeing 777 aircraft under the custody of the Dutch administrator has been sold. In a regulatory filing on Saturday, the airline mentioned that the insolvency process against it the Netherlands now stands concluded after the sale.
The Boeing 777 aircraft was sold to IAGCAS 777, LLC for $9 million under the Dutch Insolvency Process.
The sale of equipment is as per the terms of the protocol, whereunder it is agreed that the proceeds from the sale of equipment will be first utilised for the closure of Dutch Insolvency Process in Netherland, to ensure the company is no more declared insolvent in the Netherlands and balance funds, if any, shall be repatriated to India which shall be dealt as pe…
Read the full article at: https://www.livemint.com/companies/news/jet-airways-boeing-777-in-dutch-administrator-custody-sold-insolvency-process-to-close-11630769914688.html
Corporate money has a powerful and malign influence on so many aspects of American life.
But even by that low standard, events this past week in a New York bankruptcy court are shocking.
Ed Bisch, who lost his 18-year-old son Eddie to an overdose nearly 20 years ago, has spent more than a decade pushing for the … Read the full article at: https://www.irishexaminer.com/opinion/commentanalysis/arid-40373798.html
