Insolvency Guardian Media Centre
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
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.
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
While some customers could potentially reduce their bills by switching, those facing financial difficulty may be nervous of the complexity of price tariffs and wary of being caught out and put in an even worse financial positio…
Read the full article at: https://www.aol.co.uk/news/2018/10/03/increasing-number-of-people-struggling-with-fuel-bills-says-deb/
Lamar Odom was kidnapped in a gambling scheme gone horribly wrong, RadarOnline.com can exclusively reveal.
Khloe Kardashians troubled ex-husband spent two days with his captors while his girlfriend and her 2-year-old daughter were terrorized at gunpoint!
According to a source, the frightening chain of events began in Portland, Oregon in early June when Odom went to visit his then-girlfriend, Savanna Waldrop, and her family.
Lamar has massive separation anxiety so he flew to meet her in her hometown even though she told him no and she needed to have some time alone with her family, a source told Radar.
PHOTOS: Lamar Odom Caught With A Mystery Woman After Slamming His Ex
Before he arrived Odom told Waldrop he wanted to gamble. The o…
Read the full article at: https://radaronline.com/exclusives/2018/10/lamar-odom-kidnapped-gambling-scheme-gone-wrong/
(Corrects Oct. 1 story to remove reference in second paragraph to Brexit uncertainty, which the company has said was a view held by its previous, not current, management team)
Oct 1 (Reuters) – British outsourcing firm Mitie Group Plc said on Monday it would sell its pest control business to Rentokil Initial Plc for 40 million pounds ($52.1 million) cash, as it looks to focus on its core businesses as part of a restructuring.
The company, which provides cleaning, security and healthcare services, has been restructuring since issuing profit warnings in 2016 and 2017.
Mitie has also formed a preferred supplier partnership with Rentokil, to provide a range of services, including pest control, to Mities customers.
The company said the deal w…
Read the full article at: https://www.reuters.com/article/mitie-group-divestiture/corrected-update-1-mitie-to-sell-pest-control-business-as-part-of-restructuring-idUSL4N1WH266
Last week, Bay Harbor Islands, Fla.-based hedge fund ESL Investments unveiled a plan to rescue one of the icons of American retail: Sears Holdings Corp., which owns the Sears and Kmart brands. However, experts warn that ESL likely stands to gain more from the restructuring than Sears Holdings, and they note there is a potentially large conflict of interest, because Sears CEO and chairman Edward Lampert also owns the hedge fund, which is the retailers largest shareholder.
ESLs plan for Sears restructuring called for the retailer to sell real estate assets to extinguish related debt of $1.5 billion, as well as restructure $1.1 billion in debt, according to afilingwith the Securities and Exchange Commission.The plan is expected tocut…
Read the full article at: http://knowledge.wharton.upenn.edu/article/sears-restructuring/