The Supreme Court on Thursday said the time taken up by litigations during the corporate insolvency resolution process has to be excluded from the mandatory limit of 270 days in case company law tribunals uphold the plan to revive a debt-ridden company.
The top court, in an important ruling, also stressed the need of “time-bound” disposal of corporate insolvency resolution process saying it would not only support the development of “credit markets and encourage entrepreneurship, but would also improve ease of doing business and facilitate more investment, leading to higher economic growth and development”.
A reasonable and balanced…
Read the full article at: https://www.ndtv.com/india-news/insolvency-cases-excluded-from-270-day-norm-at-tribunals-top-court-1927204
Staying out of debt, saving money, building a nest egg all these things sound easy, but theyre not so easy to put into practice. Last year, Americans held a record-high $13 trillion in debt, according to the New York Fed.
So where do our good intentions go off the rails? And how can you stop those bad habits from wreaking havoc on your finances? MONEY asked experts in consumer credit, debt, and financial literacy to tell us the worst money habits they see people practice, and what books offer real and achievable strategies for breaking those habits and getting your bank account, 401(k), and credit card bills to a better place.
Here are the best books full of tips for how to save money, ge…
Read the full article at: http://time.com/money/5411090/how-to-save-money-pay-off-debt-best-books/
Max Brenner, the v. popular and quite fancy choccie chain, has entered voluntary administration despite the fact chocolate remains one of the only pure and good things left on this accursed planet.
The Sydney Morning Herald reports Max Brenner, which boasts 37 stores around the nation, appointed an administrator on Sunday to sort out the financial situation at the flagging business.
The good news is the stores will continue to dole out treats for the foreseeable future. The bad news is that future is not, uh, that foreseeable.
McGrathNicol, the administrator, hasnt been drawn on what kind of debts the business has. That said, the SMH pointed to an Australian Financial Review piece from last year, which cited sources who claimed the ch…
Read the full article at: https://www.pedestrian.tv/bites/max-brenner-administration-cafe-empire/
Company Increases Full-Year 2019 Cost Savings
Reiterates Profit Outlook for Full-Year 2018
DOWNERS GROVE, Ill., Oct. 01, 2018 (GLOBE NEWSWIRE) — FTD Companies, Inc. (Nasdaq: FTD) (FTD or the Company), a premier floral and gifting company, today announced an expansion of its corporate restructuring and cost savings plan initiatives. The Company has identified incremental cost savings opportunities and now expects to generate approximately $32 million to $37 million in cost savings in 2019. Previously, FTD had announced expectations of approximately $18 million to $23 million in 2019 cost savings.
Scott Levin, FTDs Interim President and Chief Executive Officer, commented, Our team continues to work diligently on our corporate re…
Read the full article at: https://markets.businessinsider.com/news/stocks/ftd-companies-inc-expands-corporate-restructuring-and-cost-savings-plan-1027580850
RALEIGH, N.C., Oct. 04, 2018 (GLOBE NEWSWIRE) — LandStar, Inc. (OTCPK: LDSR) (LandStar or the Company), the parent company of Data443 Risk Mitigation, Inc. (Data443), a leading data security and privacy company, announced the completion of joint efforts with finance partner Blue Citi LLC (Blue Citi) resulting in the favorable restructuring of debt and financing agreements..
Effective September 30th 2018 the Company and Blue Citi have agreed as follows:
- Blue Citi has waived the $100,000 commitment fee (which was to be paid in shares of common stock) related to the Equity Purchase Agreement signed in February, 2018 (the Equity Line).
- Mutually agreed to cancel the Equity Line.
- Blue Citi has restructured all of the convertible debt…
Read the full article at: https://markets.businessinsider.com/news/stocks/landstar-inc-announces-favorable-restructuring-of-debt-and-cancelation-of-equity-line-1027590941
The Supreme Court on Thursday said the time taken up by litigations during the corporate insolvency resolution process has to be excluded from the mandatory limit of 270 days in case company law tribunals uphold the plan to revive a debt-ridden company.
The top court, in an important ruling, also stressed the need of “time-bound” disposal of corporate insolvency resolution process saying it would not only support the development of “credit markets and encourage entrepreneurship, but would also improve ease of doing business and facilitate more investment, leading to higher economic growth and development”.
A reasonable and balanced construction of this statute (the Insolvency and Bankruptcy Code) would “therefore lead to the result tha…
Read the full article at: https://economictimes.indiatimes.com/news/economy/policy/time-taken-at-tribunals-in-insolvency-cases-to-be-excluded-from-statutory-270-days-sc/articleshow/66075670.cms
News
Danny McCance
4 Oct 2018 12:10pm
KPMG UK is keen to keep its restructuring business intact and has reportedly rebuffed offers from European private equity firm Permira
…
Read the full article at: https://economia.icaew.com/news/october-2018/kpmg-dismisses-pe-bids-for-restructuring-arm
Southwood Golf Course (SGC) has suddenly closed after the company that manages the course, Mack Trading, folded.
The Farnborough course had been earmarked by owners, Rushmoor Borough Council , as a future source of Suitable Alternative Natural Greenspace (SANG) to support the need for housing in the borough.
Despite a petition to oppose the closure, signed by 2,400 people, the council took the controversial decision in December last year, to close the golf course.
Due to shut next year, the course opened its doors to the public for the last time on Wednesday (October 3) to fulfill prior commitments.
Surrey Live is awaiting a statement from the council on the sudden closure.
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A notice pinned to the door of the golf club on Wednes…
Read the full article at: https://www.getsurrey.co.uk/news/hampshire-news/southwood-golf-course-suddenly-closes-15233205
SINGAPORE: Shares of StarHub closed at a four-month high on Thursday (Oct 4), a day after the telco announced that it was retrenching 300 employees under a company transformation plan.
The counter surged 4.3 per cent to end the day at S$1.95, its highest level since Jun4. It outperformed the broader Straits Times Index, whichlost 1.1 per cent to end the tradingday at 3,231.59.
In a media release issued on Wednesday evening, the telco announced a strategic transformation plan to focus on and invest in new businesses, such as its recently created cybersecurity company, and digitalisation initiatives.
The move was described by CEO Peter Kaliaropoulo as necessary amid inevitable pressures from intense local…
Read the full article at: https://www.channelnewsasia.com/news/business/starhub-shares-rise-after-announcing-job-cuts-company-10789576
