Insolvency Guardian Media Centre
By
Fiona Morrow
If a companys assets consist primarily of ideas, securing funding to keep the development of that idea going forward through an insolvency process can be a real challenge.
Thats because everything that is exciting about new technology becomes part of the problem when an IT company goes into receivership before its product has been fully developed. How do you value an asset that doesnt exist yet, is highly sensitive to competition, international in scope, a…
Read the full article at: http://nationalmagazine.ca/Articles/September-2018/The-challenges-of-managing-insolvency-in-the-IT-se.aspx
Dionne Warwick has a warning for her audience. I hope you came prepared for what Dionne has prepared, she offers, before singing a note. Youre going to be sitting there a long time.
Shes right: at 78, her live show lasts nearly two hours, without an interval. Initially, at least, youre gripped by the fear that however long it is, it might be entirely taken up with her opening monologue, which goes on and on like the Yangtze, while a pianist plays gentle chords beneath it. Eventually, however, the chords coalesce into an introductory song that appears to have been specially written for her, thanking her fans for buying her records and gently alluding to the turbulence of her more recent past: after years of financial mismanagement, she…
Read the full article at: https://www.theguardian.com/music/2018/sep/19/dionne-warwick-review-royal-albert-hall-london
Pursuant to Regulation 6 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 Public Announcement (made in Form A) made by Ramsarup Industries Limited giving notice of the commencement of Corporate Insolvency Resolution Process by NCLT vide its order dated 8th January, 2018 and calling upon the creditors to submit their proof of claims on or before 22.01.2018.
Pdf Link:
Ramsarup Industries Ltd. – Corporate Insolvency Resolution Process (CIRP)-Public Announcement
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/ramsarup-industries-ltd-corporate-insolvency-resolution-process-cirp-public-announcement/article24986607.ece
This is to inform you that on implementation of Insolvency and Bankruptcy Code, 2016, (IBC) the Company, Ramsarup Industries Limited (Corporate Debtor) had applied to National Company Law Tribunal (NCLT) for admission of Company under IBC as previous applications were made with the Honble Board for Industrial & Financial Reconstruction (BIFR), in terms of proviso of Section 15(1) of the Sick Industrial Companies (special provisions) Act, 1985.
The Honble NCLT, Kolkata had admitted the application of Corporate Debtor for initiation of Corporate Insolvency Resolution Process vide order dated 8th January, 2018.
Sourc…
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/ramsarup-industries-ltd-corporate-insolvency-resolution-process-cirp-admission-of-application-by-tribunal/article24986426.ece
The Co. had applied to (BIFR) Ministry of Finance, Govt. of India, Jawahar Vyapaar Bhawan, 1-Tolstoy Marg, New Delhi, Pin-110001 for reg u/s 15(1) of SICA, 1985. The aforesaid reference has been regtd by the Board as case no.67/2012. After several hearings by the Ld. BIFR the application was not accepted on 19.02.2014.Then Co. filed an appeal No. 78/14 against the order of BIFR dt. 19.02.2014 before Appellate Authority for Industrial & Financial Reconstruction & the said authority on 03.12.2014 set aside the impugned order of BIFR & remand the matter back to BIFR for reconsideration of submission of all the parties and pass order afresh after giving specific finding via reasoned order. SICA has been repealed w.e.f 01.12.2016 MCA, Govt….
In the face of a mixed financial and economic outlook, the East Midlands entrepreneurial spirit appears not to have been dampened.
Latest statistics from insolvency and restructuring trade body R3 highlight a net quarterly increase of around 2,000 East Midlands firms since the beginning of May, with the total number rising from just under 207,000 to just over 209,000 at the start of September.
R3 warns, however, that all businesses should be aware of a growing threat as the proportion of East Midlands businesses at heightened risk of insolvency has increased over the same time period from 41% to 43.7%, equating to a rise of more than 6,500 local…
Read the full article at: https://www.eastmidlandsbusinesslink.co.uk/mag/featured/east-midlands-business-start-ups-increase-but-threat-of-insolvency-rises/
The curators of Mooy Logistics, Martijn Vermeeren and Bas Ebels, have submitted their first bankruptcy report to the courts. This progress report indicates that Mooy Logistics’ creditors have, for the time being, filed claims for more than EUR13,5 million. The trustees suspect that not all the creditors have not yet come forward.
The acquiring parties paid EUR3,96 million to restart the Mooy Logistics businesses in Waddinxveen and Breda (Hazeldonk) in the Netherlands. The investigation into the reasons and background of the liquidation will begin shortly. The curators, therefore, cannot make any statements about what caused the business to fail.
Mooy Logistics and Mooy Beheer were declared insolvent on 14 August 2018. This w…
Read the full article at: http://www.freshplaza.com/article/9019993/mooy-logistics-sold-for-3-96-million-euros
NEW DELHI: There is fresh confusion over voting rights for home buyers in real estate companies, such as Jaypee Infratech and Amrapali, despite the Insolvency and Bankruptcy Board of India (IBBI) issuing a circular, mandating that only those who have submitted claims of their property will be treated as part of the electoral college (committee of creditors) to vote on key resolution.
While the government has amended the Insolvency and Bankruptcy Code (IBC) to treat home buyers as financial creditors, who will have a say in all crucial decisions, the law mandates that those who abstaining will be treated as a negative vote. This clause is proving to be a problem in case of home buyers, as decisions such as deciding on the new buyer (fo…
Read the full article at: https://timesofindia.indiatimes.com/business/india-business/insolvency-law-confusion-over-voting-rights-for-realty-cos/articleshow/65864426.cms
Posted: Sep. 19, 2018 12:01 am
Dear Dave,
My husband started his own one-man, small business as a handyman a little less than a year ago. He has netted $17,000 in that time, but the business has about $13,000 worth of debt. We’ve always kept personal finances and business separate, but what would you think about us selling one of our paid-for cars to help with the business debt?
Robin
Dear Robin,
There’s nothing wrong with small beginnings. On top of that, you should always keep your business and personal finances separate. Aside from the debt, it sounds like he’s off to a good start.
I think you’ll be able to pay off the debt from your future income. If your husband started his bus…
Read the full article at: https://www.njherald.com/20180919/sell-personal-car-to-help-pay-business-debt
Katie Price might be facing insolvency in a little over a month if she doesnt repay her debts, however the woman apparently has been looking at some new money-making avenues.
After breaking things off with boyfriend Kris Boyson, the mother-of-five was spotted dancing up a storm with Alex Adderson in Majorca last month, with the two now a thing, it seems.
And now its been claimed Katie, who had until 30 October to repay her debts or face being declared bankrupt, has invested her meagre spare change into one of her new squeezes businesses.
Insiders have alleged the 25-year-old Essex lad is beginning to control her finances and encourage her to invest in businesses he has a…
Read the full article at: https://metro.co.uk/2018/09/19/katie-prices-new-boyfriend-controlling-her-finances-amid-bankruptcy-threat-7958339/
Katie Hopkins has applied for an insolvency agreement in a last-ditch attempt to avoid bankruptcy after losing a libel case to food writer and poverty campaigner Jack Monroe.
The controversial columnist was ordered to pay Monroe £24,000 in damages and legal costs in March last year after the High Court ruled comments the rig…
Read the full article at: http://www.independent.co.uk/news/uk/home-news/katie-hopkins-libel-insolvency-bankruptcy-jack-monroe-a8540961.html
Wonderland Touring Pty Ltd, a touring company of which artist Alison Wonderland (Alexandra Scholler) is a 50 per cent stakeholder, has entered into liquidation after owing over $776,000 to creditor following her 2017 Scarehouse Project tour.
The company, whose co-directors and 25 per cent stakeholders are Falcona agents Christopher Murray and Garth Crane (also Schollers manager), entered liquidation on June 20 2018, a little under a year since it was created.
According to documents obtained by Music Feeds from Australian Securities & Investments Commission (ASIC), Wonderland Touring owes $776,056 to upwards of 80 creditors that range from security and equipment suppliers to plumbers.
A statement provided to TMN from Wonde…
Read the full article at: https://themusicnetwork.com/alison-wonderland-touring-company-goes-into-liquidation-over-700k-in-debts-owed/