Insolvency Guardian Media Centre
A senior official said the details came into the public domain “inadvertently” as the regulator is working on a beta project to host the information of creditors
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IBBI|Aadhar card|Pan card
The Insolvency and Bankruptcy Board of India (IBBI) “inadvertently” put out on its website Aadhaar and PAN details of creditors, including workmen, of some companies undergoing resolution process, and the issues are expected to be sorted out in the next few days.
A senior official said the details came into the public domain “inadvertently” as the regulator is working on a beta project to host the information of creditors of companies undergoing Corporate Insolvency Resolution Process (CIRP) and liquidation.
The IBBI, a key institutio…
Read the full article at: https://www.business-standard.com/article/economy-policy/ibbi-puts-out-aadhaar-pan-info-of-creditors-on-website-removes-them-later-121062700521_1.html
Despite what the SEC called his extraordinary and continuing” assistance in helping the agency shut down an alleged $1.4 billion investment scam, Mr. McPherson was notified last year that his whistleblower award would likely be close to zero.
The reason? The target company, Life Partners Holdings Inc., had declared bankruptcy, and the SEC never collected financial penalties it was owed. Investors, however, were able to recoup more than $1 billion through the bankruptcy process.
Mr. McPhersons experience illustrates a little-known facet of the SECs whistleblower program: The regulator wont pay awards for financial recoveries in bankruptcy proceedings, even if the affected company entered bankruptcy as a result of the agencys enforcement …
Read the full article at: https://www.livemint.com/companies/news/whistleblower-thought-he-would-get-a-big-payout-instead-he-got-nothing-11624807659472.html
It could not be immediately ascertained as to such details of how many creditors were put out
The Insolvency and Bankruptcy Board of India (IBBI) “inadvertently” put out on its website Aadhaar and PAN details of creditors, including workmen, of some companies undergoing resolution process, and the issues are expected to be sorted out in the next few days.
A senior official said the details came into the public domain “inadvertently” as the regulator is working on a beta project to host the information of creditors of companies undergoing Corporate Insolvency Resolution Process (CIRP) and liquidation.
The IBBI, a key institution in implementing the Insolvency and Bankruptcy Code (IBC), is working on the project to ensure and enhance tra…
Read the full article at: https://www.thehindu.com/business/Industry/ibbi-inadvertently-puts-out-aadhaar-pan-info-of-creditors-on-website-removes-them-later/article35001568.ece
John McPherson was almost certain hed get rich from the Securities and Exchange Commissions whistleblower program. Instead, he ended up bankrupt and embittered.
Despite what the SEC called his extraordinary and continuing assistance in helping the agency shut down an alleged $1.4 billion investment scam, Mr. McPherson was notified last year that his whistleblower award would likely be close to zero.
The reason? The target company, Life Partners Holdings Inc., had declared bankruptcy, and the SEC never collected financial penalties it was owed. Investors, however, were able to recoup more than $1 billion through the bankruptcy process.
Mr. McPhersons experience illustrates a little-known facet of the SECs whistleblower program: The regulat…
Read the full article at: https://www.wsj.com/articles/whistleblower-thought-he-would-get-a-big-payout-instead-he-got-nothing-and-went-broke-11624791602
A seven-member monitoring committee will soon begin to manage the day-to-day affairs of Jet Airways till the resolution process for the airline is completed, the airline said in a regulatory filing. The development follows bankruptcy court’s approval for the resolution bid jointly submitted by Murari Lal Jalan and Kalrock Capital for Jet Airways, the airline said in a regulatory filing on Saturday.
“The Resolution Plan submitted by the consortium of Murari Lal Jalan and Florian Fritsch (Resolution Applicant) in the CIRP of Jet Airways (India) Limited that was approved by the members of committee of creditors of the Company (CoC) in their 17th meeting, has now been approved/allowed by the National Company Law Tribunal, Mumbai Bench (…
Read the full article at: https://www.livemint.com/companies/news/jet-airways-to-be-run-by-7-member-monitoring-panel-under-resolution-plan-11624720408448.html
Your ref: FOI20/21-230
Date: 22 April 2021
Dear
Re: Freedom of Information Act (FOIA) Request
Thank you for your email of 26 March in which you requested from the Insolvency Service: I have been looking into average debt levels for personal bankruptcies and found some research published by yourselves Median Estimated Debt by Age Band in Bankruptcies and Debt Relief Orders, authored by Michael McDaid. The above mentioned report covers the 2010-2019 vintages and Im wondering if there is any publicly available research that includes older vintages (as far back as 2000 ideally)? We are interested in average debt levels by vintage only, not necessarily the split by debtor age band. If there are any existing research report(s) you can point u…
Read the full article at: https://www.gov.uk/government/publications/insolvency-service-foi-responses-april-to-june-2021/foi230-average-debt-levels-by-vintage-only
Kelham Hall Ltd, the company that owns the historic hall and grounds, has gone into liquidation, it has been reported.
It throws into disarray many weddings and events that were scheduled to be held there, including the Welcome to the Asylum steampunk event in August
It is understood suppliers and those with events booked at the hall were notified yesterday (Friday) that the company that owns the hall has gone into liquidation.
A notice posted on Twitter reads: “The site is now closed and all reservations are now unfortunately cancelled. Any person with a booking will be contacted in due course.”
Kelham Hall’s website and Facebook page is no longer available and no one is answering the phone.
Many w…
Read the full article at: https://www.newarkadvertiser.co.uk/news/wedding-and-events-venue-goes-into-liquidation-9204951/
Under HELP, repayments begin to be deducted from your salary at just 1 per cent this financial year once you earn $46,620. This ratchets up 10 per cent if your income hits $136,740.
While you used to be able to escape repayments in periods where you were living overseas, worldwide income now counts, and the same loan contributions are required.
Still, a HELP debt is the cheapest you can get as there is no interest charged. It grows only at the rate of inflation, which today is exceptionally low at just 1.1 per cent in the year to March.
Crucially, there is no time limit to repay your debt.
However, what does a lingering HELP debt mean for the rest of your financial life?
Ability to get a home loan
Firstly, your credit score is una…
Read the full article at: https://www.smh.com.au/money/borrowing/how-university-fee-debt-can-affect-your-ability-to-get-a-home-loan-20210625-p584ct.html
Khaitan & Co acted as legal counsel to the Resolution Professional (RP) of Sharan Hospitality Private Limited (SHPL) in the Corporate Insolvency Resolution Process (CIRP) of SHPL.
Mr. Mahender Kumar Khandelwal was appointed as the Resolution Professional (RP) of Sharan Hospitality Private Limited (SHPL) by the order of Honble NCLT, Mumbai Bench.
The Khaitan & Co team consisted ofPartner Mr. Siddharth Srivastava (Picture),Harshit Khare (Principal Associate) and Raunak Singh Rahangdale (Senior Associate),Mr. Kingshuk Banerjee (Partner),Radhika Gupta (Senior Associate), Kashish Jain (Associate), Taha Mirza (Associate) and Yamini Kumar (Associate).
Involved fees earner: Kingshuk Banerjee Khaitan & Co.; Radhika Gupta Khaitan & Co.; Kashis…
Read the full article at: https://www.globallegalchronicle.com/shpls-corporate-insolvency-resolution-process/
During the peak years of the gold rush, Nevada City and Grass Valley had a combined Jewish population exceeded in California only by San Francisco and Sacramento.
Some were miners, but many were shopkeepers. Rosenberg, Baruh, Rosenheim, Levy, Rosenthal, and Blumenthal were among the names associated with local Jewish businesses, as was Bailey Gatzert.
Gatzert, born in Darmstadt, Germany, in 1829, arrived in Nevada City in 1853. In May 1856, with Jesse Cody, he purchased Jacob Landekers Commercial Street grocery store. Two months later, however, the business was wiped out by the Great Fire of 1856.
Although they rebuilt, restocked and reopened, Cody soon bought an interest in the Shenandoah Billiard Saloon in the basement of the Kidd…
Read the full article at: https://www.theunion.com/news/steve-cottrell-bailey-gatzert-found-success-in-seattle/
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Unfortunately, the past year and a half of lockdowns and social distancing means that we are seeing a lot of companies go bust. There was simply too much of a burden placed on them during this tumultuous time even though there seems to be a light at the end of the tunnel. This relief has come too late for many and they are facing a shuttering of their businesses.
It isnt easy to say goodbye to a business that you put your heart and soul into. Its even more difficult to know when the time has come to declare insolvency and move on. In this article, we will go over some of the signs that your business is insolvent and its time to close it down. If you realize that it is time then insolvency practitioners, such as the Insolvency Experts i…
Read the full article at: https://www.365retail.co.uk/how-to-know-if-your-company-is-on-the-verge-of-insolvency/