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Hugh Fearnley-Whittingstalls television production company has collapsed, leaving behind millions of pounds of debts. The River Cottage chef co-founded the
In a bid to increase transparency in the liquidation process under the Insolvency and Bankruptcy Code (IBC), IBBI has proposed amendments to the regulations
In a bid to increase transperancy in the liquidation process under the Insolvency and Bankruptcy Code (IBC), IBBI has proposed amendments to the regulations.
In a discussion paper, the Insolvency and Bankruptcy Board of India (IBBI) noted that the regulatory framework of liquidation process has been improvised on several occasions during the last five years to address the difficulties faced by stakeholders, meet the evolving requirements and in aid of achievement of objectives of the Code….
Jakarta. Flow, an AI-enabled ethical credit management company, seeks to empower Indonesian borrowers to better manage their debt with a new self-service portal, dubbedFlowCares.
Indonesia is home to one of the worlds most unbanked populations, especially in rural areas. Its financial literacy is also of great concern. A 2019 nationwide survey by the Financial Services Authority (OJK) revealed that Indonesias financial literacy index stood at 38.03 percent, whereas the financial inclusion index was 76.19 percent.
At the same time, people now have better access to financial services, thanks to digitalization, emerging buy-now-pay-later e-commerce players, and peer-to-peer (P2P) lending platforms, among others. According to CEIC data, hou…
MUMBAI: The Insolvency and Bankruptcy Board of India (IBBI) has proposed major changes in the insolvency process to bring more discipline and transparency and to address issues that have come up in recent cases. The IBBI, which regulates both insolvency professionals and the process, has sought public views on amendments by September 17. A key development is the introduction of a code of conduct for the committee of creditors (CoC) proposed by a parliamentary standing committee headed by Jayant Sinha. The 31-point code of conduct, among other things, requires creditors to disclose any conflict of interest, maintain full confidentiality and not try to adjust funds of the corporate debtor against their dues during the resolution process. Howe…
DUBAI (Reuters) – Dubai state-owned property developer Limitless is set to reach an agreement with creditors over some $760 million of troubled debt, documents seen by Reuters showed – its third restructuring in a decade.
FILE PHOTO: A general view of the Burj Khalifa and the downtown skyline in Dubai, United Arab Emirates, June 12, 2021. Picture taken June 12, 2021. REUTERS/Christopher Pike
Limitless, along with Nakheel, was among the biggest casualties of Dubais property crash and the subsequent debt crisis that began in 2009.
It plans to enter into a lock-up agreement – a precursor to a long form term sheet and definitive documentation – with an ad-hoc group of creditors by the end of this month and with rema…
Hugh Fearnley-Whittingstalls television production company has collapsed, leaving behind millions of pounds of debts.
The River Cottage chef co-founded the award-winning KEO Films in 1995, which has made popular programmes such as Hughs War on Waste and Easy Ways to Live Well. The company describes itself as having a strong ethical brand reputation and has produced a series of programmes campaigning for social change.
This summer the business was sold to a rival in a pre-pack administration deal after declaring itself insolvent. Creditors, many of them owed substantial sums, now face being left substantially out of pocket.
Insolvency documents show that the directors of KEO Films, including Fearnley-Whittingstall, paid themselves 4 mill…
NHL star Evander Kane was granted a temporary restraining order against his estranged wife after accusing her of punching him in the face multiple times and, in one instance, swinging their baby daughter around during a heated argument, according to court documents.
The court filings, which were reported by TMZ on Saturday, mark the latest chapter in the messy divorce between the 30-year-old Evander and 29-year-old Anna Kane.
A general view of the Burj Khalifa and the downtown skyline in Dubai, United Arab Emirates, June 12, 2021. Picture taken June 12, 2021. REUTERS/Christopher Pike
DUBAI, Aug 29 (Reuters) – Dubai state-owned property developer Limitless is set to reach an agreement with creditors over some $760 million of troubled debt, documents seen by Reuters showed – its third restructuring in a decade.
Limitless, along with Nakheel, was among the biggest casualties of Dubais property crash and the subsequent debt crisis that began in 2009.
It plans to enter into a lock-up agreement – a precursor to a long form term sheet and definitive documentation – with an ad-hoc group of creditors by the end of this month and with remaining creditors by the end of Sep…
Corporate insolvencies continue to rise year-on-year according to insolvency and restructuring trade body R3 in the South West.
Although the figures show a slight fall between June and July 2021, it was the third consecutive month in which year-on-year corporate insolvency levels have risen.
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R3 said the month-on-month fall in corporate insolvencies was a result of a drop in compulsory liquidations, creditors voluntary liquidations (CVL), administrations and company voluntary arrangements (CVA). However, the year-on-year rise continues to reflect the effect the Covid pandemic has had on the business community.
Quinn Lewis Moore robbed the Big Barrel liquor store in Waiwhakaiho, New Plymouth, on December 27.
On his way home after losing a large quantity of money on the pokie machines, a meth-addicted man with a $2000 drug debt to pay stopped at a Taranaki liquor store and robbed it at knifepoint.
With the hood of his jersey pulled up, a bandanna covering his face and sunglasses on, Quinn Lewis Moore entered the Big Barrel liquor store in Waiwhakaiho, New Plymouth, around 5pm on December 27.
The 27-year-old walked behind the counter and pointed a knife at the sales attendant, New Plymouth District Court heard on Friday.
Insolvency regulator IBBI has come up with a discussion paper on Code of Conduct for the Committee of Creditors (CoC), which is the custodian of public trust during resolution process.
The proposed Code of Conduct, which establishes broad principles that can be applied to every situation, is expected to elevate accountability and responsibility of Committee of Creditors to ensure transparency in their functioning.
It is being proposed at a time when there have been several issues and apprehensions regarding the conduct of members of the CoC.
In fact, the Standing Committee on Finance headed by Jayant Sinha had recently recommended that there is an urgent need to have professional code of conduct for the CoC, which will define and circum…
OutlookAugust 28, 2021 19:59 IST”Insolvency resolution plans should look to maximise biz value rather than just recover dues”
outlookindia.com
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New Delhi, Aug 28 (PTI) The focus of an insolvency resolution plan should be to maximise the value of the business concerned and not just to recover the dues or liquidate the company, an IBBI official said on Saturday.
The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in implementing the Insolvency and Bankruptcy Code (IBC).
Speaking at an event organised by industry body Assocham, IBBI Executive Director Santosh Kumar Shukla said it is a joint effort of all the stakeholders and not only insolvency professionals for the revival of compa…
