A 25-year-old Dorchester man pleaded guilty Wednesday to a trio of charges in connection with a violent attempt to collect a $40,000 gambling debt, federal prosecutors said.
Appearing at federal court in Boston, Kim Nguyen pleaded guilty to kidnapping, operating an illegal gambling business, and conspiracy to collect extensions of credit by ex…
Read the full article at: https://www.bostonglobe.com/metro/2018/10/17/dorchester-man-pleads-guilty-kidnapping-loansharking-illegal-gambling/gqdYpmXsxffFcWFvRgG8uK/story.html
An Obama-era rule designed to help students cheated by for-profit colleges get relief on their education debt finally took effect Tuesday after efforts by the Trump administration to block it.
A federal judge ordered immediate implementation of the rule, delayed last year by Education Secretary Betsy DeVos, while a challenge from the for-profit college industry proceeds.
The Department of Education said Friday that it will not seek a new delay.
Attorneys general from 18 states and the District of Columbia successfully sued DeVos last year over her decision to block the rule, known as Borrower Defense to Repayment, from taking effect.
The judge …
Read the full article at: https://www.kctv5.com/news/judge-unblocks-obama-rule-on-student-debt-relief-after-delays/article_889db458-e571-54ab-ae77-78b19c476b62.html
MUMBAI: Anil Ambani-owned shipbuilder Reliance Naval & Engineerings troubles have worsened with RFID solutions provider Markss Infotech filing a fresh insolvency petition against the firm.
The development comes more than a month after IDBI Bank had moved the National Company Law Tribunal (NCLT) against Reliance Naval for defaulting on a loan of about Rs 1,250 crore. Long-term infrastructure lender IFCI, too, had filed a similar application in November 2017, which is reported to be pending since then.
Kirit Shah, director of Mumbai-based Markss Infotech, confirmed the filing of the insolvency petition at NCLT Ahmedabad, to recover dues of about Rs 60 lakh, including interest.
ET has viewed the content of the petition.
Markss Infotech, whi…
Read the full article at: https://economictimes.indiatimes.com/news/defence/markss-infotech-files-insolvency-petition-against-reliance-naval/articleshow/66266111.cms
Pursuant to Regulation of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith a copy of Order of National Company Law Tribunal (NCLT), New Delhi dated 28.09.2018 under Section 9 of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016.
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/noesis-industries-limited-corporate-insolvency-resolution-process-cirp-appointment-of-interim-resolution-professional-irp/article25250229.ece
Nkechi Chima, Abuja
The management of BFL Microfinance Bank has sued the Central Bank of Nigeria (CBN) for illegally revoking its operating licence.
The microfinance bank, in the originating summons filed at the Federal High Court by its counsel, Velma Solicitors, prayed the court to declare the purported revocation null and void as the bank was not solvent.
The Government, Central Bank of NIgeria (CBN) and the Nigerian Deposit Insurance Corporation (NDIC) were joined in the suit as the defendants.
BFL, among other things, sought a declaration that the plaintiff was not in default of any of the provisions of the Banks and Other Financial Institutions Act 2004 to warrant a revocation of its licence.
READ A…
Read the full article at: http://sunnewsonline.com/mfb-sues-cbn-for-5m-over-revocation-of-license/
A would-be rapist was today jailed for more than three years after he turned to heroin dealing because he ran up a massive poker debt.
William Bannon who has two previous convictions for attempted rape served a 12-year jail sentence for an horrific sex attack on a teenage girl.
He was released more than 10 years ago and returned to his home in Dundee.
But last year he ran up a massive gambling debt playing poker and found himself owing cash to drug dealers.
His lawyer said that led to him being threatened with violence before allowing his house to be used for drug dealing.
Fiscal depute Saima Rasheed told Dundee Sheriff Court that police raided the property in Dundees Strathmartine Road on December 27 last year.
She said: Officers sear…
Read the full article at: https://www.pressandjournal.co.uk/fp/news/scotland/1587711/would-be-rapist-turned-to-dealing-drugs-after-running-up-a-huge-gambling-debt/
17 October 2018 | By GCR Staff
The former chairman of Scottish construction company Muirfield, John Stodart, has been disqualified as a director after he was found to have siphoned off more than 880,000 from the company as it was going into administration.
The Dundee-based company employed more than 280 workers when it declared insolvency in 2015, reports Dundee newspaper, The Courier.
A two-year investigation by the UKs The Insolvency Service found that Stodart caused Muirfield to make payments totalling 883,281 to a holding company of which he was sole director, when he should have been aware Muir…
Read the full article at: http://www.globalconstructionreview.com/news/scottish-boss-siphoned-900000-failing-company-spen/
Simply Corporate, a business rescue and recovery specialst, has launched with the opening of a new office at Ribble Court, Padiham.
The practice has been founded by Natalie Hughes, Alison Butler and Andy Platt.
Natalie and Andy have worked together for the past ten years establishing a successful insolvency practice in the Greater Manchester area.
Prior to qualifying as an insolvency practitioner, Alison was an experienced corporate and personal insolvency solicitor and for the last 18 years has provided advice to company directors and business owners amongst others.
Natalie said: For too long insolvency practitioners have been considered the last resort, the end of the line, ass…
Read the full article at: https://www.lancashirebusinessview.co.uk/simply-corporate-launches-padiham-107813/
A Perth-based startup that received over $65 million from investors has been placed into liquidation with just $50,000 left in the bank, with a Federal Court judge haranguing the company for having an app that does not work.
The startup, Bux Global, was launched in 2016 and spruiked itself as a mobile app which allowed users to easily transfer money internationally via their Bux accounts. According to evidence provided to the Court, the startup had raised upwards of $65 million from investors throughout its tenure.
The West Australian reports shareholders in the company include Aussie sports stars Danny Green and Greg Matthews, and other reports also name former editor of The Australian Chris Mitchell and current AMP chairman David Murr…
Read the full article at: https://www.smartcompany.com.au/startupsmart/news-analysis/perth-startup-bux-global-raised-65-million-collapses/
This is in reference to the captioned subject.
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), 2015, we would like to bring to your notice that the 2nd Meeting of the Committee of Creditors (the CoC) of Uttam Value Steels Limited (the Company) was held on 11th October, 2018 to discuss the agenda items stated in the notice of the meeting.
The e-voting on the resolutions put to vote at the second meeting of the CoC of the Company commenced on Monday, October 15, 2018, at 02:00 p.m. and concluded on Tuesday, October 16, 2018 at 05:00 pm including extension of e-voting window.
The Resolution Professional (RP) has sought the approval of the members of the CoC on the extension of timelines for submission…
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/uttam-value-steels-ltd-corporate-insolvency-resolution-process-cirp-outcome-of-meeting-of-committee-of-creditors/article25245937.ece
Lenders of insolvent Bhushan Power & Steel (BPSL) have chosen the Rs 197-billion bid of JSW Steel. The committee of creditors (CoC) voted by a 66.6 per cent majority in its favour.
Tata Steel and Liberty House were also in the race to acquire the company after the National Company Law Appellate Tribunal (NCLAT) on August 6 permitted the three to file additional unconditional resolution plans.
The Tatas had bid about Rs 170 billion. (They have already won the race of Bhushan Steel.) Liberty House offered to enter the race at a late stage, but this was challenged by Tata Steel.
Since JSW Steels bid got the bare minimum number of votes, now the National Company Law Tribunal will …
Read the full article at: https://www.business-standard.com/article/companies/lenders-of-insolvent-bhushan-power-pick-rs-197-billion-bid-of-jsw-steel-118101700026_1.html