Insolvency Guardian Media Centre
Sub: Notice of 13th Meeting of Committee of Creditors (CoC) of Uttam Value Steels Limited (Corporate Debtor)
Pursuant to the provisions of Regulation 30 [Schedule III, Part A, Clause A (16) (g)] of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 we wish to inform you that the 13th meeting of the Committee of Creditors (CoC) of Uttam Value Steels Limited (Corporate Debtor) under the provisions of the Insolvency and Bankruptcy Code, 2016, is scheduled to be held on Tuesday, 9th April, 2019
You are requested to take the same on record.
Source : BSE -…
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/uttam-value-steels-ltd-corporate-insolvency-resolution-process-cirp-intimation-of-meeting-of-committee-of-creditors/article26778179.ece
GREENWOOD VILLAGE, Colo.–(BUSINESS WIRE)–Apr 9, 2019–Empower Retirement is targeting the broad financial needs of American workers through a new student debt solution focused on both helping workers pay down debt and their employers who may want to help out.
The new solution, which will be launched later this year, will be offered to workers saving for retirement who also wish to pay down their student loan debt faster and improve their overall financial wellbeing.
Approximately 45 million Americans carry some form of student loan debt to pay for their own education, or for that of a family member 1. In aggregate the total student loan debt is more than $1.5 trillion 2 across the U.S. More than 80 percent of American workers paying down…
Read the full article at: https://apnews.com/Business Wire/7966503f21aa455186c39f33484edca8
GREENWOOD VILLAGE, Colo.–(BUSINESS WIRE)–Apr 9, 2019–Empower Retirement is targeting the broad financial needs of American workers through a new student debt solution focused on both helping workers pay down debt and their employers who may want to help out.
The new solution, which will be launched later this year, will be offered to workers saving for retirement who also wish to pay down their student loan debt faster and improve their overall financial wellbeing.
Approximately 45 million Americans carry some form of student loan debt to pay for their own education, or for that of a family member 1. In aggregate the total student loan debt is more than $1.5 trillion 2 across the U.S. More than 80 percent of American workers paying down…
Read the full article at: https://www.apnews.com/Business Wire/7966503f21aa455186c39f33484edca8
Offshore Marine Management Limited has engaged insolvency practitioner Smith & Williamson to seek creditors voluntary liquidation.
OMM director Rob Grimmond has proposed creditors of the company nominate Richard John Lewis and Gilbert John Lemon of Smith & Williamson to act as joint liquidators.
The appointment will be made following a resolution to wind-up the company being passed by members.
In a letter to creditors, Smith & Williamson said: A decision on the nomination of joint liquidators from creditors can now only be sought by the director via a deemed consent procedure or by holding a virtual meeting. In this case the director considers it appropriate to deal…
Read the full article at: https://renews.biz/52560/omm-seeks-voluntary-liquidation/
Societe Generale said Tuesday that it is launching two restructuring projects that could lead to up to 1600 jobs being cut from its global operations.
The French bank said it plans to revamp its global banking and investor solutions businesses, and modify the organisational structure of its international retail banking and financial services activities in a push to boost profitability.
As part of the shake-up, Societe Generale will close its over-the-counter commodities business and its proprietary-trading subsidiary, while sharpening its focus on equity derivatives and structured products.
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The bank said it plans to merge two business units in its financing-and-advisor…
Read the full article at: https://www.theaustralian.com.au/business/companies/societe-generale-to-slash-1600-jobs-amid-restructuring/news-story/10736a46ac22b62c8dd156b324abff42
Memphis Goodwill plans to open its first Midtown re-sale store, in the former Rite Aid building at 1810 Unionby Aug. 1.
Out of some miracle, the site on Union opened up,” said Tony Martini, president and chief executive of the nonprofit organization. “Weve been wanting to have a retail presence in Midtown a long, long time.I just couldnt have picked a better location for a site.
The red-brick building at the corner of Union and Idlewild will be a “fantastic store on Union, Martini said.
Goodwill has signed a long-term lease for 1810 Union, where Rite Aid pharmacy closed last fall. (Photo courtesy of Memphis Goodwill)
The nonprofit operates about 45 sites in Memphis and North Mississippi, most of them donation centers but also eight r…
Read the full article at: https://dailymemphian.com/section/business/article/4319/Goodwill-to-open-re-sale-store-in-former-Rite-Aid-building-on-Union-Avenue
A regional energy start-up, which attracted millions from the Federal Government and was supported by local and interstate universities in its quest to develop a new industry creating hundreds of jobs, has been placed in voluntary administration.
Whyalla-based Muradel, which described itself as an advanced bio-crude oil production company, is now under the control of BDOs Andrew Fielding and Nicholas Martin.
A spokeswoman for the administrators said the appointment was effective from April 3.
The business was not trading at the time of our appointment. BDO are exploring a sale of the companys assets and/or shares, she said.
The business, which emp…
Read the full article at: https://www.adelaidenow.com.au/business/sa-business-journal/whyalla-fuel-company-muradel-enters-administration/news-story/38c030b87e47e6eb045aee2da854d3ce
In a new twist to the Reliance Communication (RCom) bankruptcy case, an appellate tribunal has said if insolvency proceedings are revived against the beleaguered telco firm, then Ericsson will have to pay back a large settlement amount it has received earlier.
This observation was made by a two-judge bench, headed by Justice SJ Mukhopadhaya, of the National Company Law Appellate Tribunal (NCLAT).
In February, the Anil Ambani-owned telco approached the NCLAT to withdraw the appeal it filed last year for a stay on an insolvency petition against the telco admitted by the National Company Law Tribunal (NCLT).
RCom had to shut down its mobile phone operation in 2017 and has a debt of 460 billion rupees (US$6.61 billion). While it managed earl…
Read the full article at: https://www.asiatimes.com/2019/04/article/a-short-lived-win-for-ericsson-in-rcom-case/
Crikey readers discuss solutions to political advertising and what insolvency firms mean for our economic health.
Yesterday we asked readers for suggestions of what could be done about political advertising in Australia (which Bernard Keane says is as much a scam to benefit political parties advertiser mates as anything else). Unsurprisingly, readers had a few ideas. Elsewhere, we received a comment on the issue of insolvency firms, and what they mean for the health of the economy.
On political advertising
Roy Hopkins writes: We already have reams of evidence to prove that political donations warp our democratic processes; and political advertising is no different. By all means let supporter…
Read the full article at: https://www.crikey.com.au/2019/04/09/comments-political-advertising-solutions/
More than 100 SA employees affected by the collapse of menswear chain Ed Harry will be paid their entitlements in full, but a far lower dividend is expected for unsecured creditors owed close to $12 million.
Following a clearance sale of stock across the country, administrator KPMG closed the doors to the final few stores in the Ed Harry network on March 24.
In its latest report to creditors KPMG confirmed that more than 500 staff including 114 in SA would be paid $2.8 million in entitlements following the likely liquidation of the company, while unsecured creditors were likely to recoup just 12c in the dollar.
With the company insolvent and no deed of company arrangement proposal put forward, creditors are expected to vote for the compan…
Read the full article at: https://www.adelaidenow.com.au/business/sa-business-journal/unsecured-creditors-of-failed-ed-harry-chain-expected-to-recoup-just-12c-in-the-dollar/news-story/3759b444ea51fa3c5acc9b4489dde874
A regional energy start-up, which attracted millions from the Federal Government and was supported by local and interstate universities in its quest to develop a new industry creating hundreds of jobs, has been placed in voluntary administration.
Whyalla-based Muradel, which described itself as an advanced bio-crude oil production company, is now under the control of BDOs Andrew Fielding and Nicholas Martin.
A spokeswoman for the administrators said the appointment was effective from April 3.
The business was not trading at the time of our appointment. BDO are exploring a sale of the companys assets and/or shares, she said.
The business, which emp…
Read the full article at: https://www.themercury.com.au/news/national/whyalla-fuel-company-muradel-enters-administration/news-story/38c030b87e47e6eb045aee2da854d3ce
In a press briefing on Tuesday, the Independent Electoral Commission of SA (IEC) announced they had dismissed nearly all the objections they had received against the candidates nominated by political parties contesting this years elections.
Only one objection was upheld, which came from the PAC against its own candidate,Alton Mphethi, due to a criminal conviction, said IEC chairpersonMosotho Moepya.
This candidate was sentenced on 7 June 2016 to 18 months imprisonment without the option of a fine. This disqualifies him from holding elected office to the National Assembly or a provincial legislature. The commission dismissed all other objections for failing to meet the constitutional or statutory criteria.
The IEC has dis…
Read the full article at: https://citizen.co.za/news/south-africa/elections/2114463/iec-dismisses-all-objections-against-party-candidates-bar-one/