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A man who agreed to hold a semi-automatic pistol, cannabis and two stolen motorbikes in order to pay off a gambling debt has been placed on a 12-month probation bond.
Dylan Mooney, 23, became addicted to gambling during long stays in hospital while being treated for cystic fibrosis. He continued to gamble once he was discharged playing online and going to bookmakers.
He ran up a debt of 15,000 and agreed to hold the gun, ammunition, a total of 20,600 worth of cannabis and two motorbikes to pay off the debt.
Mooney of Sheephill Avenue, Blanchardstown, Dublin pleaded guilty at Dublin Circuit Criminal Court to possession of cannabis resin, cannabis herb, a semi-automatic pistol and two charges of handling stolen property at his home on Septemb…
Following the National Company Law Tribunal (NCLT) directive, Reliance Communications (RCom) on Wednesday informed the stock exchanges that the administration of the corporate debtor would be taken over by the interim resolution professional (RP) and the corporate insolvency resolution process (CIRP) would resume. The powers of the board of directors or the partners of the corporate debtor, as the case may be, shall stand suspended and be exercised by the interim resolution professional, the company said in the filing. The NCLT has also directed the interim RP to file a progress report of the CIRP. The next hearing is on May 30. Operational creditor Ericsson, in September 2017, had orig…
He jumped in front of a train at Santahar Junction
A carpenter has reportedly committed suicide over IPL gambling debts by jumping in front of a moving train, at Belgharia in Kahaloo upazila of Bogra.
The deceased, Sohel Mia, 28, jumped on the rail tracks in front of a train crossing Belgharia at Santahar Junction around 11am on Wednesday.
Speaking to Dhaka Tribune, Sub-inspector Kaykobad, in-charge of Bogra railway station police, said: “Sohel, a carpenter, used to gamble and lose money over Indian Premier League (IPL) matches. As he was unable to repay his debts, he decided to commit suicide.”
“We took his body to Shahid Ziaur Rahman Medical College and Hospital morgue for autopsy and later, handed it over to his family. An unnatural de…
Pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, Uttam Value Steels Ltd. hereby informs your good offices that on May 7, 2019, the Resolution Professional of Uttam Value Steels Ltd. has filed an Application with the Adjudicating Authority for approval of the Resolution Plan submitted by a consortium of investors comprising of the entities listed in the Annexure hereto, as approved by Committee of Creditors in accordance with relevant provisions of the Insolvency and Bankruptcy Code, 2016.
The above is for your kind information and record, please.
According to the minutes, Sidway (previously called Merhis Contracting) held the contract to build Stacey Apartments, a $78 million-development of 146 units at 196 Stacey Street, Bankstown, which was completed last year.
The Sidway minutes also contain the assertion from Mr Hathway, managing director at corporate insolvency firm Helm Advisory, that “members of the Merhis Group were engaged in Phoenix Activity”.
A Merhis apartment project under construction in Parramatta.Wolter Peeters
Phoenixing is an illegal activity whereby a new company is created to continue the business of a company that has been deliberately liquidated to avoid paying its debts.
Merhis is led by Mark Merhi, the director and sole shareholder of Merhis Corp and Merhis Li…
Even as the National Company Law Tribunals (NCLT) remain over-burdened with innumerable litigations, the four-year old Insolvency and Bankruptcy Code (IBC) is expected to improve realisations for financial creditors to over 80,000 crore by fiscal year 2020, compared to about 66,000 crore recoveries last year, said ratings agency ICRA Ltd. in a press note.
That is despite a 32% increase in the number of on-going cases to 1,143, which have crossed the maximum allowed time of 270 days at NCLT, as of March 31. The highest quarterly admissions came in the fourth quarter of fiscal 2019 at 359 cases. The total number of cases being admitted to the NCLT, according to ICRA, will continue to increase, especially from the operational creditors …
FRANKFURT, Germany German industrial equipment and technology supplier Siemens AG says net profit fell 5% in the first three months of the year as the company heads into a major restructuring involving the spinoff of its oil, gas and power generation business.
Net profit was 1.92 billion euros ($2.15 billion), down from 2.02 billion a year earlier, when earnings were boosted by 900 million euros by a share transfer. Revenue rose 4% to 20.93 billion euros.
Siemens said Thursday that it would spin off its division that makes power turbines to increase the divisions entrepreneurial freedom, while cutting costs at its remaining businesses. The company said it would drop 10,400 jobs but expected to create 20,500 more through growth …
Craig Andrew Hughes (27) of Luton was the registered director of HL Tours Limited from July 2013. Based in Bedford, the company provided private hire coach services catering to schools and private clients.
However, the company could not pay its debts and entered into a Creditors Voluntary Liquidation (CVL) in October 2017, owing its creditors 38,000. An Insolvency Practitioner was appointed but faced obstacles throughout.
Two months before the company entered into liquidation, Craig Hughes removed the three coaches without the permission of the liquidator and tried to hide them.
Despite letters from the liquidator threatening legal action, Craig Hughes refused to reveal their location. The coaches were eventually found almost a…
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, we would like to bring to your notice that the 16th meeting of the Committee of Creditors (CoC) of Uttam Value Steels Limited (the Company) was held on May 6, 2019 to discuss the agenda items stated in the notice of the meeting.
LATEST:A DEBT in excess of $1.7 million to the Australian Taxation Office led to Supercuts Hairdressing Salons being placed in voluntary administration by its shareholders.
Staff at the 13 Queensland stores and one in Canberra, were told in the early hours of May 7 their stores would close by the appointment of liquidators and their jobs were terminated.
Supercuts had three salons in Ipswich at Booval Fair, Riverlink and Redbank Plaza, with each business having at least four employees.
Three Supercuts salons which operate in South Australia are not affected as they are owned by unrelated parties and are not affected by the liquidation.
Mark Pearce and Michael Dullaway from Pearce and Heers were appointed as liquidators.
The company announced the decision in a teleconference, saying its a global level business restructuring.
The number is equivalent to about 60% of current CDC staff, the report said. Of the 900 employers, more than 500 will be let go from its CDC Beijing office.
Those staying will involve the areas of data base products and middleware products. Researchers for the companys cloud computing business are also on the layoff list, the report said.
The report said its known internally that the CDC will eventually be closed and a second round of downsizing could start as early as July. Part of the…
The interim resolution professional of Reliance Communications (RCom) has sought an exclusion of 13 months (April 30, 2018-May 30, 2019) in RComs corporate insolvency resolution process (CIRP).
This is because the initial insolvency proceedings against the debt-ridden telecom company was stayed by the National Company Law Appellate Tribunal (NCLAT) and the Supreme Court.
Under the Insolvency and Bankruptcy Code (IBC), a maximum of 270 days is allowed for completing the resolution process, which has passed if the exclusion is not granted.
The tribunal has asked the interim resolution professionals (RPs) counsel to file a separate application. The case will now be heard on May 30.
