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Douglas Fraser Business/economy editor, Scotland 4 January 2019 Health Environmental Services has stopped trading, unable to access its remaining funds,
Lenders to Amtek Auto on Wednesday asked the National Company Law Tribunal (NCLT) to restart the resolution process for the company as the lone bidder Liberty House failed to make any payment.
The lenders have also asked for exclusion of the period Liberty House spent in considering the bid while taking into account the 270-day resolution period as mandated under the bankruptcy code for debt resolution.
Liberty House was declared the highest bidder for Amtek Auto in July last year after it made a Rs 4,200 crore bid for the company but failed to pay any amount to the banks, leading to banks filing a prosecution application in the NCLT against the firm. The Section 74 (3) of the I…
NEW HYDE PARK, N.Y.–(BUSINESS WIRE)–Kimco Realty Corp. (NYSE:KIM) announced today transaction activity for
the fourth quarter and full year 2018.
2018 Activity:
During the fourth quarter of 2018, Kimco sold 16 properties and two land
parcels totaling 1.9 million square feet for $357.1 million. Kimcos
share of the sales price was $228.4 million. For the full year 2018, the
company sold 68 properties and eight land parcels totaling 8.2 million
square feet, for $1.1 billion. Kimcos share of the sales price was
$913.9 million. The blended cap rate for 2018 property sales was in line
with the companys expected range of 7.50% to 8.00%.
When a company borrows money from a bank, the financial institution typically takes security over assets of the firm to guarantee payment.
And regardless of the macroeconomic landscape in Tanzania, if the company fails to honour the terms of the loan or experiences financial difficulties, the bank with the security of a debenture (floating charge) over the whole or substantially the whole of the companys assets may find it necessary to appoint an administrative receiver.
It should be noted at the outset that claims of unsecured creditors are not dealt with in a receivership, but are normally dealt with in the consequent liquidation of the company. Administrative receivers have similar powers to the administrators described i…
WESTPORK has positioned itself as the biggest player in the WA pork market for years to come after taking over GD Pork operations in West Pinjarra and Kojonup.
The company will hold a 45 per cent share of the market producing about 7000 pigs per week or 364,000 per year.
The Danish-owned GD Pork was WAs third biggest producer supplying 5pc of the market until it was placed into voluntary administration in November last year.
GD Pork started its operation in 2007 and invested millions of dollars into its facilities but was hit by the dramatic fall in pork prices nationally in the past few years and the high grain prices and oversupply of pork in the local market.
GD Porks managing director, as well as an internal consultant/technical expert …
Torrent Pharmaceuticals Limited issued a voluntary recall for Losartan potassium tablets USP due to an unexpected impurity.
They are now expanding that recall to a total of 10 lots.
The recall says “Torrent is only recalling lots of losartan-containing products that contain N-nitrosodiethylamine (NDEA) above the acceptable daily intake levels released by the FDA.”
NDEA is classified as a probable human carcinogen, per the International Agency for Research on Cancer (IARC) classification.
Read the full recall here:
Torrent Pharmaceuticals Limited is expanding its voluntary recall from 2 lots of Losartan potassium tablets USP to a total of 10 lots, to the consumer level due to the detection of trace amounts of an unexpected impurity found in a…
To the outside world, Lewis Keogh seemed to have it all.
Good looks, charm and an easy smile. A well-paid job, a company BMW and a smart flat. And, most importantly, friends and family who thought he was a diamond, one in a million.
Lewis Keogh with his niece Mia.
But, away from work and his busy social scene, when he locked his door and, alone at home, fired up his laptop, Lewis was in turmoil he had become addicted to gambling.
He kept his habit a secret from everyone who knew him until, in 2013, he suddenly and shockingly took his own life at the age of 34.
Heartbreakingly, his suicide note included the words addiction is cruel.
Now, with players at his old amateur football club in Leeds …
MUMBAI: Bharti Airtel has accused bankrupt Aircel, which is trying to recover its dues from Indias No. 2 telco, of working towards benefitting its financial lenders at the cost of operational creditors.
Aircel entities or their resolution professional are seeking to enlarge the scope of their legal appeal, possibly with a view to take illegal and unfair advantage of a moratorium under Section 14 of the Insolvency & Bankruptcy Code and to maximise recovery for financial creditors at the cost of operational creditors such as Airtel entities, the Sunil Mittal-owned company said in an affidavit filed in the Supreme Court on Friday.
The affidavit was submitted as Aircel considered filing a contempt of court petition after Airtel paid the Maxi…
For the first time since 1997, the coming of a new year has introduced an entire library of culture into the public domain in the U.S. Public Domain Days used to be an annual event until 1998, when a new law named after Sonny Bono suddenly extended copyright protections by 20 years. Now, under U.S. law, a song, book or movie doesnt lose its copyright protections for 95 years, or until the creator has been dead for 70 years. (Canadas laws are a bit different, but, as explained below, that may soon change.)
Thus, Jan. 1 was effectively the first time in the age of the modern internet that a massive batch of books, music and movies became free for all. Thousands of new public domain works, all produced in 1923, have been extensively…
You cant miss your flight if it never shows up something Primera Air flyers experienced when the airline announced bankruptcy on October 1, leaving ticket holders stranded at the airport, many of which were awaiting trans-Atlantic flights.
One woman at the Washington Dulles International Airport told the New York Times that she was awaiting a Primera flight that would take her home to Britain when she found out the airline was shuttering, and no Primera staff were at the front desk to field questions. Another ticket holder in Paris was on his way to Newark when the announcement was made. He said Primera staff at the Charles de Gaulle Airport seemed confused by the situation as well, and apparently no one at headquarters was answerin…
Ministers are considering backing a ban on using credit cards to gamble.
Jeremy Wright, the Culture Secretary, is demanding social responsibility from all businesses connected to the gambling industry – including banks.
He is due to meet with retail banking giants and bookmakers to discuss the problem of gamblers getting into debt by betting money they do not have.
It comes ahead of a Gambling Commission call for evidence on the issue of gambling on credit cards both online and offline which is due to be launched in February.
The review will be tasked with examining the risks of gambling on credit and could ultimately lead to a regulatory crackdown.
Efficient restructuring of the agricultural sector has brought good results in production and business in the last few months, so the sector expects to gain stronger growth in production and business this year and beyond, said experts. Photo bizlive.vn
H NI Efficient restructuring of the agricultural sector has brought good results in production and business in the last few months, so the sector expects to gain stronger growth in production and business this year and beyond, said experts.
ng Kim Sn, former director of the Ministry of Agriculture and Rural Developments Institute of Policy and Strategy for Agriculture and Rural Development, said the growth in agricultural pro…
