Insolvency Guardian Media Centre
[Los Angeles, CA, 2-18-2019] Debt Arbitration Marketresearch analysis is a highly useful tool in the hands of market players that allows them to effectively assess the global Debt Arbitration market and know where they stand in the industry in terms of revenue or sales growth. It comprehensively evaluates the global Debt Arbitration market with different perspectives for the purpose of providing a detailed, informative, and accurate analysis of regional growth, competition, market segmentation, and other important aspects. Furthermore, it offers a precise account of key breakthroughs and developments taking shape in the global Debt Arbitration market. It takes into consideration both the global and regional progress of the Debt …
Read the full article at: https://honestversion.com/debt-arbitration-market/
By Kipchumba Some
An Italian construction conglomerate that is building three mega dams in the Rift Valley worth more than Sh90 billion is being investigated for allegedly bribing senior government officials to win tenders.
CMC di Ravenna is alleged to have paid a bribe of an unknown amount from a Sh4.9 billion down payment it received last year for the design of Arror multi-purpose dam in Elgeyo Marakwet County.
One of the questions that the investigators are seeking to answer is why the company was given the down payment yet the process of acquiring land for the project had not been completed.
MANIPULATION
CMC is constructing the Arror dam in Marakwet West constituency at a cost of Sh38.5 billion. It is undertaking a similar project in …
Read the full article at: https://allafrica.com/stories/201902180109.html
The order placing TMF Services Ltd into provisional liquidation followed a hearing at the High Court on 14 February 2019 of an application issued by the Insolvency Service on behalf of the Secretary of State for Business, Energy and Industrial Strategy.
The company is concerned with trading in non-ferrous, precious and scrap metals, as well as recycled cardboard, clothing and fabrics.
The Official Receiver has been appointed the provisional liquidator and has responsibilities to protect assets in the possession or under the control of the company pending the determination of the petition.
The provisional liquidator has the power to investigate the affairs of the company as necessary to protect assets including any third party, or tru…
Read the full article at: https://www.gov.uk/government/news/sileby-company-placed-into-provisional-liquidation
The Australian market has been identified as one of the underperforming markets for Dentsu, with the impacts of lower client spend and changing management contributing to its 2018 financial year results.
Following growth in the third quarter, Australia saw a sharp pullback in the fourth quarter resulting in negative growth for the full year.
Challenging client spend and the loss of key accounts, including confectionery giant Mondelz impacted the business.
Dentsustated that new management, led by the recently appointed ANZ CEO Henry Tajer, is developing a relevant, local strategy for the Australian market and will restructure the business accordingly.
“Challenging client spend and the loss of some accounts impacted the business.The rest…
Read the full article at: http://www.adnews.com.au/news/dentsu-results-australian-restructuring-imminent-to-mitigate-further-loss
PayPal has been accused of letting problem gamblers spend up to 150,000 a day, prompting concerns that addicts are using the online payment system to circumvent bank limits.
MPs and gambling experts called for the company to be more responsible to stop people racking up huge debts that could force them into bankruptcy.
The Department for Digital, Culture, Media and Sport (DCMS) said the Gambling Commission could consider payment providers as part of its review of gambling on credit cards.
Henrietta Bowden-Jones, a psychiatrist who founded the NHSs only specialist gambling clinic, said: The first time I ever heard about a gambler using PayPal to pay for online gambling occurred about two weeks ago in clinic, when a young man came accompa…
Read the full article at: https://www.theguardian.com/society/2019/feb/17/paypal-problem-gamblers-misuse-avoid-bank-limits
Outcome of 16th Committee of Creditors Meeting
Ref: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 – Reg.
We give below outcome of the 16th Meeting of the CoC:
The Committee of Creditors reviewed the resolution plans submitted by the resolution applicants and decided to give final opportunity to each resolution applicant to submit their revised resolution plan.
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/viceroy-hotels-ltd-corporate-insolvency-resolution-process-cirp-outcome-of-meeting-of-committee-of-creditors/article26290975.ece
SINGAPORE: Embattled water treatment firm Hyflux on Saturday (Feb 16) morning announced its closely-watched restructuring plan which it said would help to resuscitate the company, but retail investors told Channel NewsAsia that this will see them suffering massive losses.
According to an affidavit filed by founder-CEO Olivia Lum to the High Court on Friday, holders of Hyfluxs perpetual securities and preference shares will be allocated a cash payout of S$27 million and 10.26 per cent of the companys shares post-restructuring.
The latter includes a top-up of 1.26 per cent from Ms Lum and the companys board of directors, who had earlier said they would be contributing their stakes in the company, as well…
Read the full article at: https://www.channelnewsasia.com/news/business/hyflux-proposes-restructuring-plan-retail-investors-big-losses-11249690
This is to inform you that the public announcement made pursuant to order passed by the Tribunal under Section 13 of Insolvency Code has published in Free Press Journal, Mumbai Edition Newspaper , Navakal Mumbai Edition Newspaper and Janadesh Silvasa Edition Newspaper on Friday February 15, 2019. Copy of Free Press Journal Mumbai Edition Newspaper advertisement is enclosed herewith for your information and record.
This letter may be treated as communication under Regulation 30, 47 and any other applicable provisions, if any, of the SEBl (Listing Obligations and Disclosure Requirements) Regulations, 2015.
You are requested to kindly take the above intimation on your records.
Pdf Link:
Sezal Glass Limited – Corporate Insolvency Resolution …
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/sezal-glass-limited-corporate-insolvency-resolution-process-cirp-public-announcement/article26289364.ece
IBBI, established in October 2016 under the IBC, has regulatory oversight over the insolvency professionals/agencies/entities and information utilitiesThe Insolvency and Bankruptcy Code (IBC), 2016, will soon have provisions dealing with individual insolvency and bankruptcy, said MS Sahoo, chairman of Insolvency and Bankruptcy Board of India (IBBI). Sahoo on Friday said the first priority would be the regulations specifically relating to guarantors to corporate debtors or personal guarantors.
Responding to a question on a timeline for the insolvency and bankruptcy resolution processes of individuals and firms, Sahoo said: That will take a little time. Preparedness is on. Wont be able to give a deadline but work is on. He was speaking at a…
Read the full article at: https://www.financialexpress.com/industry/insolvency-process-ibc-to-have-provisions-dealing-with-individual-insolvency-says-ibbi-chairman/1489195/
CEDARHURST, N.Y., Feb. 15, 2019 (GLOBE NEWSWIRE) — The securities litigation law firm of Kuznicki Law PLLC issues the following notice on behalf of shareholders of the following publicly traded companies. Shareholders who purchased shares in these companies during the dates listed below are encouraged to contact the firm regarding possible appointment as lead plaintiff and a preliminary estimate of their recoverable losses.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff…
Read the full article at: https://globenewswire.com/news-release/2019/02/15/1726279/0/en/FILING-DEADLINE-Kuznicki-Law-PLLC-Announces-Class-Actions-on-Behalf-of-Shareholders-of-IMMU-YRIV-SVXY-and-UXIN.html
MUMBAI -Failure to repay home loans might drag future defaulters to dedicated bankruptcy courts as New Delhi is seeking to put in place a broad framework on individual insolvency two years after it revamped such laws for stressed companies.
Three sets of entities will fall under the individual insolvency code. They would include the personal guarantor to corporate debtors, proprietary firms and other individual borrowers, M S Sahoo, chairman of the Insolvency and Bankruptcy Board of India (IBBI), said Friday.
The work is progressing, but I cannot comment on any timelines, said Sahoo.
According to a market source ET spoke with, the insolvency rules to recover bad loans from individuals could only come after the impending general elections…
Read the full article at: https://economictimes.indiatimes.com/industry/banking/finance/banking/individual-insolvency-code-may-soon-be-a-reality/articleshow/68015306.cms
With growing demand for insolvency professionals, Indian Institute of Corporate Affairs (IICA) has launched a graduate insolvency programme (GIP).
Approved by the Insolvency and Bankruptcy Board of India (IBBI), GIP offers course for those individuals who want to join the insolvency profession or seeking other roles in the value chain, in the country and in foreign jurisdictions.
An insolvency professional is a key institution of the insolvency regime. The graduates of the GIP will add immense value to the insolvency ecosystem and contribute to its further development, IBBI chairperson M S Sahoo said.
IICA is established by the ministry of corporate affairs as a think tank that supports initiatives of the Ministry on all matters relating …
Read the full article at: https://www.thehindubusinessline.com/news/education/iica-launches-two-year-graduate-insolvency-programme/article26281642.ece