Insolvency Guardian Media Centre
Before the likes of Samsung could put two displays onto one single smartphone, Russian company Yota attempted to do the same as far back as December 2012 with the release of the YotaPhone, a device that had an LCD display as its primary display and an e-ink display on the other side as its secondary display. The device certainly was a new take on what smartphones could achieve, but it only received as much attention as first generation devices from lesser known brands (on the global scale) do. Yota followed up on the dual display concept with the release of the YotaPhone 2, and then the YotaPhone 3 which was as recent as August 2017.
Unfortunately, dual-screen phones did not catch the fancy of consumers in any major way. Other OEMs hav…
Read the full article at: https://www.xda-developers.com/yota-yotaphone-dual-screen-maker-bankrupt/
A bench of the National Company Law Tribunal (NCLT) New Delhi, has ordered notices to the Union government and Chairman, Insolvency and Bankruptcy Board of India (IBBI), seeking their views on the the issue of voting rights of homebuyers and financial creditors of Jaypee Infratech Limited.
The case relates to a deadlock over resolutions to be passed at a meeting of the firms committee of creditors (CoC).
The President of NCLT referred the case to the single bench, in exercise of powers under Section 419(5) of the Companies Act 2013, after two members of the Allahabad Bench took contrary views on the issue.
As per the court filings, the voting rights of various parties in the total debt of the company is as follows lenders 41.8%, homebuye…
Read the full article at: https://www.thehindu.com/business/homebuyers-voting-rights-need-clarity/article26891131.ece
Put away those credit cards, gamblers in the UK. The government through the UK Gambling Commission is going to shut down their use.
The thinking behind the decision is that consumers should limit their wagers to their current available funds. Jeremy Wright, attorney general for England and Wales is in agreement and has sympathy for a ban on credit card gambling.
Support for this position came from the case of a woman who racked up more than 100,000 in debt on nine different credit cards. And this was over only two days!
According to Shadow Culture Secretary, Tom Watson,
The operators which took her bets should be held responsible for their disgraceful conduct. No one should go into debt to place a bet.
Minister Wright re…
Read the full article at: https://news.tunf.com/uk-gamblers-can-no-longer-use-credit-cards-per-uk-gambling-commission/512708
Yota a dual display smartphone manufacturer, goes bankrupt declared the Cayman Islands Supreme Court in a recent ruling. According to the local newspaper, Cayman Islands Gazette, Yota requested for liquidation per local laws a few days ago.
The court appointed FTI Consulting employees David Griffin and Joshua James Taylor as the Joint Official Liquidators of the company. Yota creditors have 21 days to establish any title they may have under the Companies Law. Failing to comply with the order within the given time the creditors will be excluded from any benefit or distribution made.
Hi-P Electronics, a Singaporean company and display supplier of Yota Phone also filed a lawsuit against the company for not fulfilling the subscription co…
Read the full article at: https://www.gizmochina.com/2019/04/19/yota-phone-bankrupt/
Company to Deregister with the SEC; Common Stock to be Withdrawn from Trading on OTC
WASHINGTON, April 18, 2019 (GLOBE NEWSWIRE) — Determine, Inc. (OTCQB: DTRM) (the Company) today announced that its Board of Directors has determined that since the Company has now completed the sale of substantially all of the assets of the Company to Corcentric, Inc., it is in the best interest of the Company and its stockholders to effect the winding up, liquidation and dissolution of the Company and distribute the net cash proceeds of the sale to its stockholders as soon as practicable after provision for the Companys existing obligations. The Boards decision was based on a number of factors, including the significant cost savings to be obtained b…
Read the full article at: https://globenewswire.com/news-release/2019/04/18/1806871/0/en/Determine-Inc-Announces-Winding-Up-Liquidation-and-Dissolution.html
One of many sad elements in Boltons financial crisis and other current indignities is that for years they were supported by an owner most clubs would consider ideal. Eddie Davies, originally a Bolton lad, made a fortune marketing the heating elements in kettles and he brewed up 185.5m in loans to Wanderers before pulling the plug in November 2015.
By then Bolton were falling to a hard landing without the parachute payments from their second stint in the Premier League between 2001 and 2012, with players to pay and making heavy losses. In September, just days before he died, aged 72, Davies made one last loan of 5m, to the current owner, Ken Anderson.
Yet for the Bolton supporters anxious and embarrassed about pending winding-up petition…
Read the full article at: https://www.theguardian.com/football/2019/apr/18/watford-former-bankrupt-owner-laurence-bassini-buy-bolton
Company to Deregister with the SEC; Common Stock to be Withdrawn from Trading on OTC
WASHINGTON, April 18, 2019 (GLOBE NEWSWIRE) — Determine, Inc. (OTCQB: DTRM) (the Company) today announced that its Board of Directors has determined that since the Company has now completed the sale of substantially all of the assets of the Company to Corcentric, Inc., it is in the best interest of the Company and its stockholders to effect the winding up, liquidation and dissolution of the Company and distribute the net cash proceeds of the sale to its stockholders as soon as pra…
Read the full article at: https://www.apnews.com/Globe Newswire/b40cbd2b939124cb6560f22e9506e2af
Company to Deregister with the SEC; Common Stock to be Withdrawn from Trading on OTC
WASHINGTON, April 18, 2019 (GLOBE NEWSWIRE) — Determine, Inc. (OTCQB: DTRM) (the Company) today announced that its Board of Directors has determined that since the Company has now completed the sale of substantially all of the assets of the Company to Corcentric, Inc., it is in the best interest of the Company and its stockholders to effect the winding up, liquidation and dissolution of the Company and distribute the net cash proceeds of the sale to its stockholders as soon as practicable after provision for the Companys existing obligations. The Boards decision was based on a number of factors, including the significant cost savings to be obtained b…
Read the full article at: https://www.globenewswire.com/news-release/2019/04/18/1806871/0/en/Determine-Inc-Announces-Winding-Up-Liquidation-and-Dissolution.html
Pier 1 Imports Inc.s Interim Chief Executive Cheryl Bachelder may have taken an optimistic tone after the home dcor retailer reported disappointing fourth-quarter earnings, but analysts were bearish, bringing up the possibility of a liquidation in the not-so-distant future.
Given the trends in business, and its negative earnings per share, EBITDA [earnings before …
Read the full article at: https://www.marketwatch.com/story/pier-1-liquidation-is-a-possibility-analysts-say-2019-04-18
The administrators appointed at Western Australias developer Carnegie Clean Energy have revealed the highest of four bids it managed to attract for its solar microgrid business Energy Made Clean (EMC) was only $200,000, while the lowest one stood at mere $40,000. This is well below the $13 million the company was bought for in 2016. According to the administrators report, the highest bidder subsequently pulled out of the process.
The developer and its three subsidiaries EMC Co, Energy Made Clean and EMC Engineering Australia entered administration last month just days after the Western Australia government had terminated the $16 million financial assistanceagreement for the Albany wave energy project. The government said the unexpected pr…
Read the full article at: https://www.pv-magazine-australia.com/2019/04/18/carnegie-gets-5-million-lifeline-bids-for-liquidated-microgrid-arm-emc-revealed/
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Subject: Intimation of the Second Meeting of the Committee of Creditors (COC) of Punj Lloyd Limited under Regulation 30(2) read with Clause (g) of Para A of Part A of Schedule III of Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015
Dear Sir/Madam,
Pursuant to Regulation 30 (2) of Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015 (LODR) and in accordance with the requirements of Sub Clause 16 (g) of Clause A of Part A of Schedule III of LODR, we wish to inform that the the second meeting of the Committee of Creditors of Punj Lloyd Limited was held on Thursday, 18th April 2019 at 10.30 a.m. at The Park, 15, Sansad Marg, Hanuman Ro…
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/punj-lloyd-ltd-corporate-insolvency-resolution-process-cirp-intimation-of-meeting-of-committee-of-creditors/article26877230.ece