Insolvency Guardian Media Centre
- Prachi Singh
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Spanish luxury brand Delpozo, part of the perfumes group Perfumes y
Diseo, has terminated 20 employees as a part of its restructuring process.
The company initiated several measures last year including moving a part of
its production to Italy and appointment of German designer Lutz Huelle as
the companys new creative director, who replaced Josep Font. Huelles
first collection is expected to hit the stores only in September this
year.
While the company has reduced the number of its sales team members, the
workers in the areas of administration and logistics have been moved to
Perfumes y Diseos structure. Delpozo has however decided to maintain its
workshop in Madrid to manage around 3…
Read the full article at: https://fashionunited.uk/news/business/delpozo-lays-off-20-employees-as-part-of-restructuring-plan/2019011040912
Can you proceed against the Corporate Guarantor before proceeding against the Corporate Debtor? NCLAT answers in this Judgment
January 10 2019
An NCLAT Bench comprising Chairperson Justice SJ Mukhopadhyaya, Member (Judicial) Justice A.I.S. Cheema and Member (Technical) Balvinder Singhhas held that Corporate Insolvency Resolution Process (CIRP) can be triggered against the corporate guarantor even if the corporate debtor is not in CIRP by itself.
Without initiating any Corporate Insolvency Resolution Process against the Principal Borrow…
Read the full article at: https://barandbench.com/ibc-corporate-guarantor-cirp-principal-borrower-nclat/
10:50 10/01/2019
MOSCOW, January 10 (RAPSI) The Moscow Commercial Court has extended for six months bankruptcy proceedings against a former co-owner of Vneshprombank Georgy Bedzhamov charged with embezzlement, according to court records.
As of today, asset disposal has not been completed, and settlements have not been performed with creditors, the debtors financial manager Lyubov Kireyeva says.
Bedzhamov was declared bankrupt on July 2, 2018 on the request of VTB24 bank.
The former banker was put on the international wanted list in 2016.
Investigators believe that ex-president of Vneshprombank Larisa Markus and her brother Georgy Bedzhamov have created an organized crime group to siphon money from the bank. The group including a former …
Read the full article at: http://rapsinews.com/judicial_news/20190110/293443595.html
Martin Building Services, liquidation
ONE of the Hunters best-known homegrownbuilders, Martin Building Services, has foldedwith debts of almost $10 million. The company, which began in Maitland almost 20 years ago, was placed in the hands of insolvency expertsin December at the request of director and owner Denis Martin. James Shaw, a partner of Shaw Gidley Insolvency Reconstruction, was appointed liquidator on December 14. Mr Shaw said early investigations indicated employees would be paid and the remaining assets would go to the companys banker, which has security over the remainingassets. It is unlikely that there will be anything for creditors, he said. Australian Securities and Investment Commission documents reveal the company has u…
Read the full article at: http://www.maitlandmercury.com.au/story/5844093/building-firms-10m-debts/
Coronation Street star Michael Le Vell has been discharged from bankruptcy, according to official records.
The actor, who has played mechanic Kevin Webster in the soap since 1983, was declared bankrupt in January last year under his birth nameMichael Robert Turner.
An official record on theIndividual Insolvency Register reveals the 54-year-old was released from bankruptcy on January 8.
It means he is now able to set up a company and be a director. However, details of the bankruptcy will remain on his files for at least six years.
Le Vell first joined Coronation Street in the early 1980s and quickly endeared himself to fans, who have followed the trials and tribula…
Read the full article at: https://www.irishexaminer.com/breakingnews/entertainment/coronation-street-star-michael-le-vell-discharged-from-bankruptcy-896697.html
The inspiration for Cleaning Up (ITV), a gritty new British drama, came from a sleek old American movie.
Writer Mark Marlow was watching Oliver Stones 1987 classic Wall Street when he was snagged by the scene in which Charlie Sheens character has been given the task of finding some inside information for Gordon Gekko. Seeing the ambitiousyoung stockbroker rifling through the filing cabinets, Marlow noticed the cleaners in the background and thought: If they wo…
Read the full article at: https://www.independent.co.uk/arts-entertainment/tv/reviews/cleaning-up-review-episode-one-itv-sheridan-smith-gambling-addiction-a8719141.html
Harish Puppala | Rakesh Sharma
Moneycontrol Contributor
2018 was a difficult year for banks – their reputations suffered massively after it came to light that most of them had large NPAs, sins they committed knowingly. One year prior, in 2017-18, the gross NPA ratio of all scheduled commercial banks reached 11.2percent of the gross advances, up from 9.3 percent a year before. Public sector banks, which account for nearly 70percent of the advances, saw gross NPA ratios rise to 14.6 percent due to, and I quote the RBI here, restructured advances slipping into NPAs and better NPA recognition. Better NPA recognition is, of course a fancy way of saying that banks got caught for the bad loans they gave out.
…
Read the full article at: https://www.moneycontrol.com/news/business/companies/podcast-digging-deeper-banks-need-to-work-on-their-npa-issues-3351981.html
SUMMIT, N.J.–(BUSINESS WIRE)–Celgene Corporation (NASDAQ: CELG) today provides a business update,
including confirmation that the company achieved its guidance for
full-year 2018; its financial guidance for 2019; and reaffirmation of
its expected 2020 financial targets.
Based on a preliminary review of its results for the fourth-quarter
ended December 31, 2018, Celgene achieved guidance for the full-year
2018 that it provided on October 25, 2018 and which is summarized in the
table below. The company will report its results for the fourth-quarter
and full-year 2018 on January 31, 2019.
Celgene today also provides guidance for the full-year 2019,…
Read the full article at: https://www.businesswire.com/news/home/20190107005376/en/Celgene-Corporation-Announces-2019-Financial-Guidance-Key
BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smithreminds investors of the March 4,
2019deadline to file a lead plaintiff motion in the class
action filed on behalf of investors that purchased Yangtze River Port
and Logistics Limited (Yangtze River or the Company) (NASDAQ: YRIV)
securities betweenFebruary 2, 2016 and December 5, 2018,inclusive
(the Class Period).
Investors that suffered losses on their Yangtze Riverinvestments are
encouraged to contact the Law Offices of Howard G. Smith to discuss
their legal rights in this class action at 888-638-4847 or by email to [email protected].
OnDecember 6, 2018, Hindenburg Resear…
Read the full article at: https://www.businesswire.com/news/home/20190109005917/en/Deadline-Alert-Law-Offices-Howard-G.-Smith
MUMBAI: The Supreme Court has allowed Aircel employees to file a contempt case against Bharti Airtel, its unit Bharti Hexacom and the telecom department for not returning Rs 453 crore to the company as ordered by the apex court.
Permission to file contempt petition is granted, the court said on Wednesday. It said Bharti Airtel and Bharti Hexacom could be added as party respondents in the case.
The order is a big win for the employees of debt-laden Aircel, 300 of whom approached the top court after Sunil Mittal-owned Airtel and the Department of Telecommunications failed to release Rs 453 crore, as ordered by the SC, after the amount was pledged through bank guarantees in a spectrum sale deal.
The Supreme Court also upheld an earlier verd…
Read the full article at: https://economictimes.indiatimes.com/industry/telecom/telecom-news/supreme-court-allows-aircel-staffers-to-file-contempt-plea/articleshow/67464772.cms
Coronation Street star Michael Le Vell has been discharged from bankruptcy, according to official records.
The actor, who has played mechanic Kevin Webster in the soap since 1983, was declare…
Read the full article at: https://www.independent.ie/entertainment/coronation-street-star-michael-le-vell-discharged-from-bankruptcy-37698394.html
Retailers now have access to a new program that can help their employees alleviate the financial burden of student debt.
The National Association of Convenience Stores (NACS) has announced a new member benefit that helps the employees of its retailer and supplier member companies pay down student loan debt and save for their future.
Today, seven in 10 people graduating from college have student loan debt, and total student loan debt has climbed to more than $1.5 trillion. WithGradifi, NACS members have access to a tool that can help them gain a competitive advantage in the hiring marketplace by helping their employees reduce student loan debt, as well …
Read the full article at: https://www.petrolplaza.com/news/9979