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BOSTON – Federal authorities said a $40,000 gambling debt led a Boston man to help kidnap a Quincy victim, beat him, and extort him for cash.
Kim Nguyen, 25, pleaded guilty Wednesday to federal charges of kidnapping, conspiracy to collect extensions of credit by extortionate means, and operating an illegal gambling business. Nguyen is scheduled to be sentenced Jan. 10, 2019.
Nguyen was arrested and indicted in August of last year along with three other Boston men. Vinh Huynh, 35, and Quang Le, 27, were indicted with the same charges while Ban Tran, 26, was charged only with operating an illegal gambling business.
Authorities said that Nguyen and Le armed with knives kidnapped the victim from his Quincy home and drove him aroun…
Shilpi Cable Technologies Limited informed the exchanges that the resolution plan submitted by the resolution applicant was put up for the approval of the committee of creditors (CoC) in the Fifteenth CoC Meeting of Shilpi Cable Technologies Limited, in accordance with the Insolvency and Bankruptcy Code, 2016 and the rules and regulations framed thereunder. On account of less than 66% of the votes being cast in favour, the aforementioned approval of the CoC could not be obtained.
Further, the CoC voted on a resolution for authorising the resolution professional to file an application for liquidation of the Company before the Honble NCLT, New Delhi (Principal Bench) in accordance with the Insolvency and Bankruptcy Code, 2016 and the rules…
While a corporate entity may have creditors, debtors and assets in various countries, the Insolvency and Bankruptcy Code, 2016 (IBC), in its current avatar has no comprehensive legal framework on cross-border insolvency (CBI). The Ministry of Corporate Affairs on 20 June 2018 issued a public notice inviting comments on a draft chapter on CBI, which is primarily based on the United Nations Commission on International Trade Law Model Law on Cross-Border Insolvency, 1997.
Currently, sections 234 and 235 of the IBC empower: (i) the government to make bilateral agreements with other countries for enforcing the IBC; and (ii) the National Company Law Tribunal (NCLT) to is…
Casa de Insolventa Transilvania, one of the biggest insolvency management firms in Romania, will open its first office outside the country in Cyprus, an emerging market where the insolvency practitioner profession only started to be officially recognized 2 years ago.
The European insolvency market needs a complex multidisciplinary approach and the integrated product that the CITR offers. The decision to open a CITR office in Cyprus is a natural step in the companys evolution, given the strong leadership position on the national market and the first step towards what CITR will mean over the next ten years. We are ready to expand to new European countries in need of our expertise and we are already analyzing two new markets to explore, …
COLORADO SPRINGS Walking across the stage, receiving a diploma and finishing college for many, its supposed to signify the end of years of education and the beginning of a professional life.
Theres just one problem: student loan debt.
We have a big problem. Student loan debt is now about $1.5 trillion in the United States. Forty-four million Americans are borrowers of a student loan with an average student loan debt of about $40,000, said U.S. Sen. Cory Gardner (R- Colorado).
Gardner, who visited the News 5 studios Wednesday, is trying to curb rising higher education costs with the Student Loan Repayment Acceleration Act.
The bill would let employers help employees pay off their debt.
The future of chocolate cafe Max Brenner was looking very unclear just 24 hours ago after the company collapsed into liquidation on Wednesday.
Its now been reported that brothers David and Craig Tozer from Tozer & Co last night struck a deal to gain the companys licence.
“In conjunction with the franchisor, we are excited by the prospect of investing, growing and developing a highly successful business,”David Tozer told The Sydney Morning Herald .
“The brand has a rich history across the world and also within Australia.”
The deal will be finalised over the coming months, meanwhile the remaining stores across the country will be running business as usual.
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Iconic menswear chain Roger David has gone into voluntary administration with the retailer admitting it has struggled to survive the swing towards online shopping.
Today marks a sad day in the long history of Roger David menswear and for Australian retail
Roger David has been in business in Australia for 76 years, and currently operates 57 stores run by more than 300 staff across Australia.
In a statement the retailers directors said the decision to appoint administrators KordaMentha was an emotional one for the business.
LUXURY chocolate chain Max Brenner has been thrown a lifeline at the last minute.
The ailing brand which went into voluntary administration earlier this month has been rescued from liquidation by investment office Tozer & Co.
The firm which is operated by brothers David and Craig Tozer, struck a deal last night to acquire the licence for Max Brenners Australian business.
Its understood a deal was struck last night to scoop the business out of liquidation and stabilise the chains remaining 17 stores.
The future of the last remaining Max Brenner cafes was still unclear just a few hours ago after the owners of the business halted the Australian licensing agreement and called in liquidators to the operation on Wednesday.
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…
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.
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.
