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30 August 2018
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.
It is informed that Corporate insolvency process has been commenced against the Company as per order dated 23rd August, 2018 & 30th August, 2018, passed by honorable National Company Law Tribunal, Chandigarh Bench, Chandigarh under the Insolvency & Bankruptcy Code, 2016 in CP (IB) No.102/Chd/CHD/2018 in the case of M/s. Weather Makers Pvt. Ltd. Vs. M/s. Parabolic Drugs Limited.
Mr. Sanjay Kumar Aggarwal, having Registration No.IBBI/IPA-002/IP-N00126/2017-18/10295 was appointed as an Interim Resolution Profession
Source : BSE – www.bseindia.com
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/parabolic-drugs-ltd-corporate-insolvency-resolution-process-cirp-updates-corporate-insolvency-resolution-process-cirp/article24841374.ece
TV hosts Ant and Dec are set to be millions of pounds out of pocket after the collapse of an exclusive Algarve complex where they bought luxury villas.
Documents show the pair are owed around £2.5 million each following a financial disaster affecting buyers at the upmarket The Keys development in Quinta do Lago.
Their names are on a provisional list of creditors put together by a bankruptcy administrator as part of a long-running legal process which is understood to be ongoing.
Read the full article at: https://metro.co.uk/2018/09/01/ant-and-dec-face-losing-2500000-each-as-luxury-villa-firm-goes-bust-7903108/
MILAN — Cristiano Ronaldo was left waiting for his first Juventus goal after drawing another blank as the titleholders won 2-1 at Parma in Serie A on Saturday to maintain their 100 percent record.
An early Mario Mandzukic goal and a second-half strike from Blaise Matuidi gave Juve their third win in as many league games this season, although Ronaldo was left without a goal in his first 270 minutes with the Turin side.
Ivory Coast forward Gervinho scored in between for Parma, his first goal since joining them in the close season.
“[Ronaldo] has to deal with different difficulties in Serie A but he had a good game overall,” said Juventus coach Massimiliano Allegri. “The international break will make him sharper.
“He’s the worl…
Read the full article at: http://www.espn.in/football/report?gameId=522790
Shop worker pocketed payments to help father out of debt
John Veighey took the cash from customers to help his father out of debt
A shop assistant pocketed customer payments up to 20 times in a bid to help his unsuspecting father out of debt, a court has been told.
John Veighey stole cash given to him for wine purchases and then cancelled transactions at a Russel…
Read the full article at: https://www.bbc.co.uk/news/uk-northern-ireland-45359881
PUNE: Those who invested their hard-earned money in Lavasa are a worried lot, with the promoter of the scenic hill station facing insolvency proceedings.
In a filing with the Bombay Stock Exchange, real estate firm HCC said the National Company Law Tribunal has admitted a plea filed by creditors, who initiated the corporate insolvency resolution process against the debt-ridden Lavasa Corporation.
As per a case filed with Maharashtra Real Estate Regulatory Authority, about 15 investors have poured in Rs3-4 crore into the projects in the hill station. The actual number could be much higher.
Thursdays development and a subsequent internal mail circulated by Lavasa, gave the homebuyers hopeful of a refund a rude shock.
Had the o…
Read the full article at: https://timesofindia.indiatimes.com/city/pune/lavasa-investors-worried-as-promoter-faces-insolvency/articleshow/65629877.cms
Friday, December 23, 2016, mightnt mean much to the average person, but for Kade Rixon, its a day hell never forget.
That was the moment things hit home for the Melrose soccer coach and he vowed never to have another bet.
To the naked eye, hes a positive, happy-go-lucky man, but behind the mask was a desperate and lonely individual that didnt understand the chaos he was causing around him all from gambling.
The old saying never judge a book by its cover couldnt be more appropriate.
Rixon, now 30, had his first bet as a 16-year-old in Melbourne with a group of school friends who all loved to get involved with the punt.
It was four or five years later that he knew he was in a bit of trouble.
Every day after work, Id be going to the pub and spe…
Read the full article at: https://www.illawarramercury.com.au/story/5620539/silent-killer-a-gambling-addict-explains-all/
The Orissa High Court has directed the State Government to restrain the Essar Steel Ltd, the Bhushan Steel Ltd and the Bhushan Power & Steel Ltd from carrying out any mining activities in Odisha.
The court verdict came after adjudication of a writ petition filed by advocate and Citizen Action Forum general secretary Chitta Ranjan Sahu in the matter of a PIL under Article 226 of the Constitution and a PIL seeking cancellation of iron ore mines pursuant to invitation of bids for grant of mining lease for iron ore dated 23-12-2015 issued by the State Government for the Ghoraburhani Sagasahi iron ore block and a notice inviting tender dated 7-3-2017 for the Kamalanga West and Netrabandha-Pahar iron ore mines.
In the writ petition,…
Read the full article at: https://www.dailypioneer.com/state-editions/bhubaneswar/no-mining-for-essar-bhushan-hc-directs-state.html
(August 29, 2018) Littler, the worlds largest employment and labor law practice representing management, has appointed Shareholder Arthur Carter (Dallas) as co-chair of its Business Restructuring and M&A practice group, succeeding Shareholder Robert Long (New York/Chicago/Miami).
Carter joins Shareholder and Co-Chair Kerry Notestine (Houston) to lead Littlers team that advises clients on how to structure the employment and labor aspects of major corporate transactions. Long, the founder of the firms Business Restructuring and M&A practice group, will continue his active practice representing corporate clients and private equity firms, and will focus on expanding the firms practice in the NYC market.
Bob has been instrumental in growing t…
Read the full article at: http://www.lawfuel.com/blog/arthur-carter-named-co-chair-of-littlers-business-restructuring-and-ma-practice-group/
The ITV stalwarts bought top of the range holiday homes near each other at an exclusive golf course in Portugal back in 2015.
However the plush Keys resort, where Dec celebrated his 40th Birthday, has gone bankrupt and now owes millions to a government bank.
Troubled Ant, 42, who is recovering from alcohol and drug addiction with new girlfriend Anne-Marie Corbett, 42, after splitting from estranged wife Lisa Armstrong in January – is owed £2.5million.
Dec, also 42, who will host Im a CelebrityGet Me Out Of Here! in November alongside Holly Willoughby, is owed the same.
While This Morning host Schofield, 56, is listed on official documents as being owed £1.5million.
The Saturday Night Takeaway stars bought adjacent villas in The Keys, a 72 vil…
Read the full article at: https://www.express.co.uk/news/uk/1011508/Ant-Dec-Phillip-Schofield-2-5m-loss-villa-firm-goes-bust
AUSSIES struggling with financial wellbeing want their employers to help, though not necessarily in the form of a payrise, new research suggests.
Fintech firm Map My Plan canvassed employees from a range of organisations for its Financial Stress in the Australian Workplace insight paper, finding 31 per cent were worried about their finances and 8 per cent so much they had trouble sleeping.
Map My Plan founder Paul Feeney said financial wellbeing did not mean simply having more money.
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Financial wellbeing is really about peoples ability to manage day to day expenses, he said. It also means being prepared for financial shocks, such as loss of job or illness.
Further Map My Plan research found many households were …
Read the full article at: https://www.news.com.au/finance/money/wealth/aussies-struggling-with-financial-wellbeing-study-reveals/news-story/5ac12de4459f5ec74f1cd516d846983d
A new perk at Abbott Laboratories that helps employees save for retirement even as they pay down student debt has caught the attention of a national employer group that is asking the government to clear the way for more companies to offer a similar benefit.
Abbott had sought and received the blessing of the Internal Revenue Service for a program that would allow workers who direct a certain amount of their paycheck toward student loan repayments to still get an employer contribution in their 401(k) retirement accounts, even if the workers dont contribute themselves.
On Wednesday, the ERISA Industry Committee, which advocates on behalf of large employers regarding benefit plans governed by the Employee Retirement…
Read the full article at: http://www.chicagotribune.com/business/ct-biz-irs-student-loan-perk-0902-story.html
Bon-Ton Stores Inc., the more than century-old department store chain that declared bankruptcy in February and shut its doors Wednesday, may be close to a comeback.
The rights to relaunch the retailer and its subsidiary brands are close to being acquired, according to people familiar with the matter who requested anonymity because the deal is not yet final.
The reinvented Bon-Ton would be a sleeker, more e-commerce focused business, the sources told USA TODAY. While the relaunched company will be centered around its website, there are also plans to reopen physical locations in Illinois, Colorado, Wisconsin and Pennsylva…
Read the full article at: https://www.ydr.com/story/money/business/2018/08/31/return-dead-bon-ton/1162775002/