Insolvency Guardian Media Centre

Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
Challenges of a liquidator include wading through complicated land ownership patterns of the corporate debtor. Photo: BloombergWhen Santanu T. Ray,
Helping UAE residents resolve their debt issues has been the mission of The Debt Panel from its launch in April
Updated List of Creditors of SRS Limited displayed under Regulation 13(2)(c) of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations,
SINGAPORE (Reuters) - Noble Group (NOBG.SI), the once mighty commodity trader, on Thursday completed its drawn out $3.5 billion debt
AP Photo/Tony Gutierrez Copyright 2018 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or
...Read the full article at: https://www.wnct.com/news/national/secret-santas-charity-buys-and-erases-past-due-medical-debt/1674473702
AP Photo/Tony Gutierrez Copyright 2018 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or
In 2018, over Rs 80,000 crore was recovered from various corporate debtors. Photo:istockNew Delhi: Tasked with a key job of
Tasked with a key job of helping recover unpaid corporate loans, the NCLT has helped resolve insolvency and bankruptcy proceedings
Ramdev. Photo: Pradeep Gaur/MintNew Delhi: Baba Ramdevs Patanjali Ayurved is still interested in taking over bankruptcy-bound Ruchi Soya after the
Debt relief helps only a small fragment of farming community in a very limited and temporary way.The agrarian distress has
The National Company Law Appellate Tribunal (NCLAT) has ruled that a personal guarantors right to subrogation against a corporate debtor
Challenges of a liquidator include wading through complicated land ownership patterns of the corporate debtor. Photo: Bloomberg

Challenges of a liquidator include wading through complicated land ownership patterns of the corporate debtor. Photo: Bloomberg

When Santanu T. Ray, a resolution professional, learnt that Conros Steel Pvt. Ltd will have to be liquidated, the first thing he did was to approach the committee of creditors (CoC) and requested all lenders to relinquish control over the companys assets, pledged as collateral for loans.

This control, or charge, as it is commonly called, is the lenders right to sell the underlying asset, if the borrower fails to repay the loan. The requirement to get lenders to sign a letter and give up their claim is just one of the several problems being faced by liquidators appointed under the Insolvency and Bankruptcy Code (IB…

Read the full article at: https://www.livemint.com/Companies/yVhg4tc7HKIr8e2njiqN4K/Liquidation-under-insolvency-and-bankruptcy-code-a-long-and.html

Helping UAE residents resolve their debt issues has been the mission of The Debt Panel from its launch in April 2016.

Our experts have offered financial advice to more than 130 debtors, to help those struggling with chronic liabilities find a way out of their financial mess.

But what happens after the advice is delivered? We meet four of the people who turned to our panel this year to find out how their situation has moved on:

Case one: Single mother of four is hounded by debt collectors over Dh43,000

Sumera Hasan, a single mother of four, from Pakistan, wrote to The National in May because she was receiving up to 10 calls a day from collection agents over a Dh43,000 liabil…

Read the full article at: https://www.thenational.ae/business/money/how-our-debt-panel-helped-make-a-difference-to-lives-1.802343

Updated List of Creditors of SRS Limited displayed under Regulation 13(2)(c) of IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 pursuant to Regulation 30 read with Clause 16(e) of Para A of Part A of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Pdf Link:
SRS LTD. – Corporate Insolvency Resolution Process (CIRP)-List of Creditors

Source : BSE – www.bseindia.com

Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/srs-ltd-corporate-insolvency-resolution-process-cirp-list-of-creditors/article25832101.ece

SINGAPORE (Reuters) – Noble Group (NOBG.SI), the once mighty commodity trader, on Thursday completed its drawn out $3.5 billion debt restructuring to emerge as a smaller, unlisted Asia-focused coal-trading business.

FILE PHOTO: Photo of Noble Group logo at investor event from August 2015

The completed restructuring effectively closes the saga of Nobles collapse from Asias biggest commodity trader with a market value of over $6 billion to less than $80 million that began in February 2015 when its accounting practices were questioned by Iceberg Research.

To bolster itself, Noble sold billions of dollars of assets, took hefty writedowns and cut hundreds of jobs, while defending its accounting.

The completion of the companys restructuring all…

Read the full article at: https://www.reuters.com/article/us-noble-group-debt/noble-group-completes-3-5-billion-restructuring-to-emerge-as-smaller-unlisted-firm-idUSKCN1OJ07R

Read the full article at: https://www.wwlp.com/news/world/charity-buys-and-erases-past-due-medical-debt-to-help-families-during-holiday-season/1674393418



Read the full article at: https://www.wnct.com/news/national/secret-santas-charity-buys-and-erases-past-due-medical-debt/1674473702

Read the full article at: https://www.wwlp.com/news/local-news/charity-buys-and-erases-past-due-medical-debt-to-help-families-during-holiday-season/1674393418

In 2018, over Rs 80,000 crore was recovered from various corporate debtors. Photo:istock

In 2018, over Rs 80,000 crore was recovered from various corporate debtors. Photo:istock

New Delhi: Tasked with a key job of helping recover unpaid corporate loans, the NCLT has helped resolve insolvency and bankruptcy proceedings involving more than Rs 80,000 crore in the year passing-by and the kitty is expected to swell beyond Rs 1 lakh crore in 2019 with several big-ticket default cases pending.

Plans are afoot to further strengthen the National Company Law Tribunal (NCLT) by increasing number of judges and benches and provide adequate infrastructure to fast-track the process, according to government officials.

The new year will not only test the mettle of the Insolvency and Bankruptcy Code (IBC), but also of the NCLT and its appellate …

Read the full article at: https://www.livemint.com/Companies/HivcqyYSmVjf6hZDIvY2KM/NCLT-helps-recover-Rs-80k-crore-in-2018-Kitty-may-cross-Rs.html

Tasked with a key job of helping recover unpaid corporate loans, the NCLT has helped resolve insolvency and bankruptcy proceedings involving more than Rs 80,000 crore in the year passing-by and the kitty is expected to swell beyond Rs 1 lakh crore in 2019 with several big-ticket default cases pending.

Plans are afoot to further strengthen the National Company Law Tribunal (NCLT) by increasing number of judges and benches and provide adequate infrastructure to fast-track the process, according to government officials.

The new year will not only test the mettle of the Insolvency and Bankruptcy Code (IBC), but also of the NCLT and its appellate body NCLAT, as several high-profile cases need to be resolved — Essar Steel (involving over Rs 80,…

Read the full article at: https://www.businesstoday.in/current/corporate/nclt-helps-recover-rs-80k-cr-in-2018-kitty-may-cross-rs-1-lakh-cr-in-2019/story/304122.html

Ramdev. Photo: Pradeep Gaur/Mint

Ramdev. Photo: Pradeep Gaur/Mint

New Delhi: Baba Ramdevs Patanjali Ayurved is still interested in taking over bankruptcy-bound Ruchi Soya after the highest bidder Adani Wilmar wrote to resolution professional raising concerns over deterioration of asset quality of the edible oil firm due to delay in completion of the insolvency process.

In December 2017, Indore-based Ruchi Soya Industries entered the Corporate Insolvency Resolution Process (CIRP). Shailendra Ajmera was appointed resolution professional (RP) by the NCLT on the application of creditors Standard Chartered Bank and DBS Bank under the Insolvency and Bankruptcy Code.

According to sources, Adani Wilmar, which was declared as the highest bidder in August to acquire Ruchi Soya with …

Read the full article at: https://www.livemint.com/Industry/yzGJFqRnLrWmUZaet7xVJI/Patanjali-says-still-interested-in-Ruchi-Soya-lead-bidder-A.html

Debt relief helps only a small fragment of farming community in a very limited and temporary way.

The agrarian distress has aggravated in the last few years as evinced from several recent demonstrations in various parts of the country. The plight of farmers marching hundreds of kilometres in poor conditions point out to the fact that there has been no meaningful improvement in quality of life of our large populace (around 60%), dependent on agriculture and allied activities, in the past 70 years.

The reaction to this crisis at times is a knee jerk one, such as waiver of agricultural loans, as seen in a few states recently. Its limitations are many. There is a large number of those engaged as agricultural labourers and sharecroppers who a…

Read the full article at: https://www.businesstoday.in/opinion/columns/beyond-debt-relief-what-next-for-farmers/story/303988.html

The National Company Law Appellate Tribunal (NCLAT) has ruled that a personal guarantors right to subrogation against a corporate debtor can be taken away in a resolution plan under the Insolvency and Bankruptcy Code (IBC).

Simply put, a personal guarantor has no right to step into the shoes of a creditor against the corporate debtor (company going through IBC) in case of a resolution plan under the IBC.

This ruling came in an appeal filed by Lalit Mishra & Ors, the promoters of Sharon Bio Medicine Ltd (corporate debtor), against the February 28 order of NCLAT, Mumbai.

Subrogation refers to the substitution of one person or group by another in respect of debt or insurance claim, accompanied by the transfer of any associated rights and dut…

Read the full article at: https://www.thehindubusinessline.com/money-and-banking/in-a-resolution-plan-under-ibc-personal-guarantors-cant-step-into-creditors-shoes/article25821235.ece