Insolvency Guardian Media Centre
Dear Sir/Madam,
This is to inform you that Metalyst Forgings Limited (“MFL”) is undergoing the Corporate Insolvency Resolution Process under the provisions of the Insolvency and Bankruptcy Code, 2016 (“Code”), in terms of order passed by the Honble National Company Law Tribunal (“NCLT”), Mumbai Bench, with effect from 15.12.2017. Mr. Dinkar T. Venkatasubramanian was initially appointed as Interim Resolution Professional of MFL and subsequently confirmed as Resolution Professional by the Committee of Creditors in its meeting held on 12th January, 2018 under the provisions of the Code.
Further, we wish to inform you that pursuant to the provisions of the Code, the Committee of Creditors of MFL has approved the resolution plan submitt…
Read the full article at: https://www.thehindubusinessline.com/companies/announcements/others/metalyst-forgings-ltd-corporate-insolvency-resolution-process-cirp-outcome-of-meeting-of-committee-of-creditors/article24779504.ece
As the Reserve Bank of Indias (RBI) deadline to resolve large stressed assets ends on Monday, as many as 60 stressed loan accounts worth over Rs 3 lakh crore stare at insolvency proceedings.
This is a direct impact of the central banks circular released on February 12.
Bankers are attempting to resolve the non-performing assets (NPAs) and other stressed loan accounts outside of the insolvency process in order to avoid large haircuts or loan losses.
In the circular, RBI had told banks that they must initiate the plan for resolution of stressed assets as soon as they witness a delay or default in payments starting March 1. The banking regulator gave banks 180 days to resolve accounts above Rs 2,000 crore, failing which th…
Read the full article at: https://www.moneycontrol.com/news/business/economy/as-rbis-aug-27-deadline-looms-over-60-large-stressed-loans-worth-over-rs-3-lakh-cr-stare-at-insolvency-process-2880101.html
The National Company Law Tribunal (NCLT), Hyderabad has extended the duration of the corporate insolvency resolution process period for IVRCL Ltd by an additional 90 days beyond the original 180 days.
The decision follows a resolution passed in a meeting of the Committee of Creditors (CoC) of the Hyderabad-based construction and infrastructure company. The companys Insolvency Resolution Professional (IRP) had filed an application with the NCLT on August 21 and the Tribunal allowed the extension of the deadline.
The CoC sought additional time as the resolution applicants are in the process of doing due diligence of the corporate debtor and submitting resolution plans.
In another petition related to the company, the Income-Tax…
Read the full article at: https://www.thehindubusinessline.com/companies/ivrcls-insolvency-resolution-period-extended-by-90-days/article24773494.ece
German shipbuilder Nordseewerke Emden Shipyard (NES) had filed for insolvency as its deal to provide cruiseship hull blocks for Meyer Werft ends.
A spokesman for the district court in Aurich confirmed the Wednesday move to Gottinger Tageblatt.
NES has 80 workers. Former owners of the site had declared the yard insolvent in 2012 and 2015.
The current incarnation was founded after the second bankruptcy.
It had a deal in place until the end of August to provide ship sections to compatriot yard Meyer Werft.
But the report cited a Meyer Werft spokesperson as saying Meyer Werft did not want to extend the contract due to “substantial problems” with the partnership and timely deliveries.
NES has been contacted for comment.
Lower Saxony’s ec…
Read the full article at: http://www.tradewindsnews.com/legal/1562990/germanys-nes-yard-files-for-insolvency
MY KITCHEN Rules star and actor Blake Davis allegedly brought a samurai sword down on rapper Jett McKee’s skull “penetrating layers of bone resulting in blood loss, in loss of brain tissue which resulted in his death”, a court has heard.
Prosecutor James Ly told Newtown Local Court today that 15 eye witnesses watched Mr Davis armed with a samurai sword and his girlfriend Hannah Quinn chase Mr McKee down a street before the attack “leading up to the death of the deceased”.
“Witnesses saw the accused raise the sword above his head and bring it down on the skull of the deceased. This strike penetrated through layers of bone in the skull,” he told the court.
Mr Ly was addressing the court during a bail application …
Read the full article at: https://m.centraltelegraph.com.au/news/actor-penetrated-rappers-skull-with-samurai-sword-/3502310/
Octopus VCT 4 plc (the Company)
24 August 2018
Publication of Circular relating to the recommended proposal for Members Voluntary Liquidation.
The Company today announces the publication of a circular (the Circular) relating to the recommended proposal of the Company entering into a Members Voluntary Liquidation.
The Circular has today been posted to shareholders which includes the Notice of General Meeting (the Notice). The Circular and the Notice together with the Proxy Form and the Form of Instruction and Proxy can be found on the Companys website at http://www.octopusinvestments.com.
In accordance with Listing Rule 9.6.3, a copy of the Notice has also been submitted to the National Storage Mechanism and will shortly be availabl…
Read the full article at: https://globenewswire.com/news-release/2018/08/24/1556286/0/en/Publication-of-Circular-relating-to-the-recommended-proposal-for-Members-Voluntary-Liquidation.html
Octopus VCT 3 plc (the Company)
24 August 2018
Publication of Circular relating to the recommended proposal for Members Voluntary Liquidation.
The Company today announces the publication of a circular (the Circular) relating to the recommended proposal of the Company entering into a Members Voluntary Liquidation.
The Circular has today been posted to shareholders which includes the Notice of General Meeting (the Notice). The Circular and the Notice together with the Proxy Form and the Form of Instruction and Proxy can be found on the Companys website at http://www.octopusinvestments.com.
In accordance with Listing Rule 9.6.3, a copy of the Notice has also been submitted to the National Storage Mechanism and will shortly b…
Read the full article at: https://globenewswire.com/news-release/2018/08/24/1556280/0/en/Publication-of-Circular-relating-to-the-recommended-proposal-for-Members-Voluntary-Liquidation.html
Picture this: youre a small business owner or a startup founder with a fresh idea and a few thousand in your pocket to make it happen. You grind away for months to create a winning product or service that you believe to be unique and release it to the world, banking on support from customers to make your entrepreneurial dream a reality.
Three months later you receive a letter from a multinational corporation informing you your business has infringed their trademark. You have seven days to completely change your business or youre off to Federal Court.
If you roll over, you risk having to change everything youve built, but if you put up a fight, youll be dragged into months of court proceedings against a business that undoubtedly has m…
Read the full article at: https://www.smartcompany.com.au/business-advice/legal/david-versus-goliath-small-businesses-taken-on-big-business-come-out-ahead/
Octopus VCT 3 plc (the Company)
24 August 2018
Publication of Circular relating to the recommended proposal for Members Voluntary Liquidation.
The Company today announces the publication of a circular (the Circular) relating to the recommended proposal of the Company entering into a Members Voluntary Liquidation.
The Circular has today been posted to shareholders which includes the Notice of General Meeting (the Notice). The Circular and the Notice together with the Proxy Form and the Form of Instruction and Proxy can be found on the Companys website at http://www.octopusinvestments.com.
In accordance with Listing Rule 9.6.3, a copy of the Notice has also been submitted to the National Storage Mechanism and will shortly b…
Read the full article at: http://www.globenewswire.com/news-release/2018/08/24/1556280/0/en/Publication-of-Circular-relating-to-the-recommended-proposal-for-Members-Voluntary-Liquidation.html
FILE
PHOTO: Fighting to survive: Noble Group’s fate hangs on investors
restructuring vote
Thomson
Reuters
By Anshuman Daga
SINGAPORE (Reuters) – Singapore-listed Noble Group Ltd faces a
make-or-break shareholders’ meeting on Monday as investors vote
on a $3.5 billion debt restructuring plan that its creditors and
board say is vital to prevent insolvency.
The company, once a global commodity trader with ambitions to
rival Glencore or Vitol, has shrunk to an Asian-centric business
focused on coal and freight trading after it slashed hundreds of
jobs and sold prized assets to cut debt.
Noble, whose market value has been nearly wiped out fr…
Read the full article at: http://uk.businessinsider.com/r-fighting-to-survive-noble-groups-fate-hangs-on-investors-restructuring-vote-2018-8
Victorian Police find some of Hennessy Transports prime movers and trailers as questions emerge about pre-liquidation sale of business
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A truck bearing Hennessy Transport livery
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Victorian Police have located some of the vehicles missing from Hennessy Transport after their registrations were allegedly wrongly transferred to a third party earlier this year.
The investigation into the “thefts and deceptions” involving the business is ongoing, Victoria Police say, telling ATN that five prime movers and nine trailers have …
Read the full article at: https://www.fullyloaded.com.au/industry-news/1808/exclusive-hennessy-transport-sold-prior-to-liquidation-to-biz-now-linked-to-son
US President Donald Trump offered Italy assistance in buying the countrys sovereign bonds next year, Italian media reported, in the latest twist in what has been a tumultuous few months in the European countrys debt markets.
The offer was made during a meeting last month between Mr Trump and Italian prime minister Giuseppe Conte, according to Corriere della Sera, which cited anonymous Italian government officials in its report.
The timeframe cited in the report aligns with the planned end of the European Central Banks massive asset purchase programme, which is slated to come to a close in December 2018. That programme has provided a major boon to government bonds across the eurozone, helping to keep borrowing costs down, especially i…
Read the full article at: https://www.ft.com/content/3b841b10-a765-11e8-8ecf-a7ae1beff35b