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.
BRAMPTON, Ontario--(BUSINESS WIRE)--DATA Communications Management Corp. (TSX:DCM) (DCM or the "Company"), a leading provider of business communication solutions to companies
A middle-aged Melbourne cat burglar broke into the homes of wealthy people and stole jewellery and valuables, including a $60,000 watch, to pay debts owed to people he met at the casino.
Chinese-born Di Miao, 54, pleaded guilty today to four burglaries at homes in Melbourne’s affluent eastern suburbs over several years, sometimes wearing a black wig as a disguise.
But Miao’s lawyer says the burglaries were far from being the work of a “Pink Panther-like” master thief and were rather the “clumsy” crimes of a desperate single father.
Di Miao pleaded guilty today to four burglaries at homes in Melbourne’s affluent eastern suburbs over several years. (9NEWS)The 54-year-old stole the goods to pay back debts he amounted at Crown Casino. …
Insolvency register to be linked to European e-Justice portal
The Courts of Justice, in partnership with the Registrar of Companies, has acquired an EU grant to develop an integrated National Insolvency Register that will in future be interconnected to the European e-Justice Portal.
This electronic register aims to provide information to the public about entities and traders that are facing insolvency and provides information that is relevant to creditors such as the case reference, date registered, court name, termination date, type of proceedings, article, insolvency practitioner, time limit for lodging a claim, court of appeal and time limit for appeal.
Its a tough old world out there right now and too many businesses are finding that their operation costs are going up but orders are going down.
It can easily feel that the skys falling in, but its sometimes possible to turn things around again. Read through these seven steps to see if you can rescue your enterprise.
Look at formal insolvency procedures
This might seem like youre throwing the towel in before you start, but its often better to look at the worst-case scenario so that you have a good idea about it.
Insolvency isnt the end of the world if it comes to it, especially if you get help and advice from practitioners like Credit Fix. There are lots of different insolvency solutions, so you can find one that gives you the …
With reference to the subject matter this is to inform you that the Eighth Meeting of Committee of Creditors of the Corporate Debtor was held on 25th June, 2018 at 2:00 PM at Grant Thornton India LLP, 15th Foor, Tower IIM India Bulls Finance Centre, Senapati Baapat Marg, Elphinstone (W), Mumbai 400013.
The outcome of the meeting is summarised as herein below:
1. The Request for Resolution Plan Document ( Process Memorandum and Evaluation Matrix) was approved by the Committee of Creditors)
Resolution Professional had filed application on 12th July 2018 vide Application No. IA257/2018 before NCLT Ahmedabad relating to extension for a period of 90 days as per section 12(2) of Insolvency and Bankruptcy Code,2016 read with regulation 40 of IBBI (Insolvency resolution process for Corporate person) Regulations,2016.Honble Bench of NCLT had granted the same and passed Order dated 13th July, 2018 which was received on 30th July 2018. Accordingly, the timeline for completion of CIRP will end on 28.10.2018 after taking into consideration of extension of 90 days beyond 180 days and fresh EOI dated 09.08.2018 had been published with last date for submission of Resolution Plan has been extended to 13th September 2018
With reference to the subject matter this is to inform you that the Tenth Meeting of Committee of Creditors of the Corporate Debtor was held on Wednesday, 8th August, 2018 at 12:00 P.M at Grant Thornton India LLP, 16th Foor, Tower II , India Bulls Finance Centre, Senapati Bapat Marg, Elphinstone (W), Mumbai 400013. The outcome of the meeting is summarized as herein below: 1. The RP informed the CoC about the receipt of four Resolution Plan before the approved deadline of 7th August, 2018 upto 6:00 PM 2. The CoC approved the appointment and fees of Ray & Co, Chartered Accountants as Statutory Auditors of Ramsarup Industries Limited.
Esor Construction, a subsidiary of Esor [JSE:ESR], has applied for business rescue.
On Monday, it said in a note to shareholders that it was in financial distress and owed creditors about R130m.
The main causes were significant losses incurred on certain construction contracts in the current and prior financial years, the challenging economic environment in the construction sector, and an inability to secure short- and medium-term funding.
Various strategies had been implemented to mitigate the company’s negative position, it said.
These included expediting completion of legacy loss-making contracts to minimise further losses; disposing of idle and non-core assets; and renegotiating payment terms with suppliers and subcontractor…
With reference to the subject matter this is to inform you that the Ninth Meeting of Committee of Creditors of the Corporate Debtor was held on Tuesday, 24th July, 2018 at 11:00 A.M at Grant Thornton India LLP, 16th Foor, Tower II , India Bulls Finance Centre, Senapati Baapat Marg, Elphinstone (W), Mumbai 400013.
The outcome of the meeting is summarised as herein below:
1. The CoC approved the extension of the last date for submission of Resolution Plan to 7th August, 2018, upto 6:00 P.M
The majority of companies going for liquidation under the Insolvency and Bankruptcy Code (IBC) have been non-operational for almost over a decade. With assets depreciating over time, experts say, the demand from buyers will be muted, leading to large haircuts for lenders and creditors. These companies have not been doing well for a considerably long period and efforts have been made in the past to revive them, but these failed, said Anil Gupta, vice-president at ratings and research firm ICRA. In an email response, ICRA told Business Standard of the 87 firms identified in March this year for liquidation, 74 were under the purview of the Board for Industrial and Financial Reconstruction (…
BRAMPTON, Ontario–(BUSINESS WIRE)–DATA Communications Management Corp. (TSX:DCM) (DCM or the “Company”),
a leading provider of business communication solutions to companies
across North America, announced its consolidated financial results for
three and six months ended June 30, 2018.
Our revenue continued to demonstrate year over year growth, thanks to
contributions from our recent acquisitions and a second consecutive
quarter of growth in our core DCM business. Our sales pipeline continues
to be robust, strengthened by recent wins in the licensed cannabis
industry in which we have recently been awarded multi-year contracts
with several …
