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.
Synopsis L3 Technologies Inc. (NYSE:LLL) operates in three business units: Intelligence, Surveillance & Reconnaissance, or "ISR" (a combination of aerospace
He accused the Modi government of trying to protect the company from being declared bankrupt.
Ramesh said that on February 12, the Reserve Bank of India issued a circular stating that any company that owed more than Rs 2,000 crore to banks should be declared bankrupt within 180 days.
“GSPC’s highest debt is from SBI, which is Rs 1,200 crore. According to RBI’s notification, SBI should declare GSPC bankrupt,” said Ramesh.
“Last month GSPC submitted a 15-page document, entitle…
The National Company Law Tribunal, Hyderabad, has ordered liquidation proceedings for Lanco Infratech Ltd. The NCLT Bench dismissed a petition filed by Power Mech Projects Ltd to consider a deadline extension to place a bid for Lanco Infratech.
Ordering the appointment of Insolvency Resolution Professional (IRP) Savan Godiawala as the official liquidator, NCLT Member Ratakonda Murali accorded 75 days time for the liquidation process.
The diversified infrastructure company was taken to NCLT by IDBI, and the IRP had called for a resolution plan by potential bidders.
In the first attempt, Thriveni Earthmovers bid, the only comprehensive one, was considered. However, it was rejected by the Committee of Creditors (CoC) with barely 15 per cent …
The Congress today claimed that public-sector Gujarat State Petroleum Corporation (GSPC) owes Rs 12,000 crore in loans to various banks, and accused the Narendra Modi government of trying to prevent the company from being declared bankrupt.
He cited two reports of the Comptroller and Auditor General (CAG) that noted that GSPC took loans of Rs 20,000 core from 15 banks and gave contracts for drilling to “four-five companies”.
Warsaw District Court has declared the WSE-listed IT company Indata bankrupt. The creditors now have 30 days to submit their claims (if they were not disclosed in the proper registry). Among the companys debt are two series of bonds issued late last year worth PLN 1 million each. Indata is a holding of IT companies.
This content is for Silver 6 months, Gold 1 Year and Bronze 2 weeks members only. Log InBuy Subscription
According to a new report, the Bellagio Hotel and Casino has accused PK, the manager of iconic musician Boy George, of breaching a settlement that required him to make payments on a gambling debt he began racking up years ago.
On August 26, The Blast shared details of the alleged agreement, revealing the RHOBH star accumulated a $3.6 million gambling debt with the casino. PK, 51, made a few payments in the amount of $875,000 before filing for bankruptcy in the U.K. and having his debt cleared away.
Although PKs debt was removed after his bankruptcy filing overseas, the casino said they wer…
The Congress today claimed that public sector Gujarat State Petroleum Corporation (GSPC) owes Rs 12,000 crore in loans to various banks, and accused the Narendra Modi government of trying to prevent the company from being declared bankrupt.
Senior Congress leader Jairam Ramesh claimed at a press conference that a Rs 20,000-crore scam has come to light in GSPC, 13 years after then Gujarat Chief Minister Narendra Modi announced in 2005 the discovery of a natural gas block in the Krishna-Godavari basin.
He cited two reports of the Comptroller and Auditor General (CAG) that noted that GSPC took loans of Rs 20,000 core from 15 banks and gave contracts for drilling to “four-five companies”.
L3 Technologies Inc. (NYSE:LLL) operates in three business units: Intelligence, Surveillance & Reconnaissance, or “ISR” (a combination of aerospace and sensor systems), Electronic Systems and Communication Systems. The company used to operate four business units, with Aerospace and Sensor Systems being separate business units. The share price is up modestly year to date with a return of 9.22%, and it has underperformed the defense/aerospace ETF (BATS:ITA) by 2.34%. Based on my valuation, I think there is a return opportunity of nearly 15% over the next twelve months.
L3 Technologies is undergoing business unit consolidation in an effort to create cost synergies and better target specific market opportunities. It is undergoing…
Citing a Reserve Bank of India (RBI) notification, senior Congress leader Jairam Ramesh on Monday said that the State Bank of India should declare Gujarat State Petroleum Corporation (GSPC) as bankrupt by 5 p.m.
The Congress leader said, On February 12, 2018, RBI issued a circular stating any company that owes more than Rs 20,000 crore to banks, should be declared bankrupt within 180 days.
GSPCs highest debt is from SBI. According to RBIs notification, SBI should declare GSPC as bankrupt by 5 p.m. today (Monday), said Ramesh.
During Prime Minister Narendra Modis term as Gujarat Chief Minister, the GSPC was cited as one of the biggest successful Gujarat Model and was shown as an example for other stat…
This is to inform you that the Honble National Company Law Board, Kolkata Bench II, vide its order dated 21st August 2018 has passed the liquidation orders of Eastern Gases Limited under section 33 of the Insolvency and Bankruptcy Code, 2016.
I, Kuldeep Verma having IP Registration No. IBBI/IPA-001/IP-P00014/2016-17/10038 have been appointed as Liquidator of the said company.
Noble Group Ltd won approval on Monday from a majority of shareholders for a $3.5 billion debt restructuring plan that should ensure the survival of what was once Asia’s biggest commodity trader.
Faced with the prospect of the company’s insolvency, shareholders reluctantly backed a debt-for-equity swap that will leave them with ownership of just 20 percent of the business, while handing majority control to a group of creditors comprised mainly of hedge funds.
“Today, the decision to avoid liquidation rests in your hands,” Noble Chairman Paul Brough told shareholders …
