Insolvency Guardian Media Centre
Recommendations made by the committee to the Government of India regarding the changes in bankruptcy laws
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The Government of India after the introduction of I&B Code 2016 was receiving representation from stakeholders w.r.t hindrances they were facing under Insolvency and Bankruptcy Code 2016 and rules made thereunder. A sense of insecurity was seen in many Corporate Debtors especially MSMEs after the introduction of the Co…
Read the full article at: https://www.entrepreneur.com/article/312966
A former soldier has told how he racked up thousands of pounds of gambling debts after a head injury led him to develop an addictive personality.
Fraser Howie, 25, is now calling for access to online gambling sites to be toughened up after he was left with £12,000 of debt.
Mr Howie, from Paisley, claimed injuries he sustained in a car crash when he was 18 and home on leave radically altered his personality.
He was a passenger in a car which crashed into a tree in the nearby Glennifer Braes Country Park in 2010, with the accident leaving him with a broken neck and spinal fractures, as well as fractures to his skull, eye socket, nose, legs and arms.
READ MORE: Scottish experts call for brain injury research funding
He completely los…
Read the full article at: https://www.scotsman.com/news/former-scots-soldier-claims-brain-injury-turned-him-into-gambling-addict-1-4735308
May 4 (Reuters) – COPsync Inc:
* COPSYNC INC – CO FILED IN BANKRUPTCY COURT PROPOSED PLAN OF LIQUIDATION PURSUANT TO CHAPTER 11 OF U.S. BANKRUPTCY CODE & DEBTORS DISCLOSURE STATEMENT
* COPSYNC INC – ON MAY 1, 2018, COURT ENTERED AN ORDER SCHEDULING A HEARING ON JUNE 12, 2018, TO CONSIDER APPROVAL OF DISCLOSURE STATEMENT
* COPSYNC INC SAYS COURT ESTABLISHED JUNE 5, 2018, AS LAST DATE FOR FILING OBJECTIONS TO DISCLOSURE STATEMENT – SEC FILING Source text: (bit.ly/2JVBzyX) Further company coverage:
Read the full article at: https://www.reuters.com/article/brief-copsync-inc-co-filed-in-bankruptcy/brief-copsync-inc-co-filed-in-bankruptcy-court-proposed-plan-of-liquidation-idUKFWN1SB1F1
A former soldier has told how he racked up thousands of pounds of gambling debts after a head injury led him to develop an addictive personality.
Fraser Howie, 25, is now calling for access to online gambling sites to be toughened up after he was left with £12,000 of debt.
Mr Howie, from Paisley, claimed injuries he sustained in a car crash when he was 18 and home on leave radically altered his personality.
He was a passenger in a car which crashed into a tree in the nearby Glennifer Braes Country Park in 2010, with the accident leaving him with a broken neck and spinal fractures, as well as fractures to his skull, eye socket, nose, legs and arms.
He completely lost his sense of smell after the accident, but Mr Howie – who was doing his …
Read the full article at: https://www.glasgowlive.co.uk/news/health/former-soldier-claims-brain-injury-14619267?utm_source=google_news&utm_medium=referral&utm_campaign=google_news&utm_content=sitemap
SALIM Mehajer likes the finer things in life. Designer suits, flash cars, expensive property and all the bling you could wish for.
He has lived in luxury mansions apart from his recent stint in the decidedly unglamorous squalor of Silverwater jail and has publicly told how his empire crumbled while he was behind bars for two months earlier this year.
That culminated in Mehajer being declared bankrupt by the Federal Circuit Court in March, while he was in custody, and sparked an Instagram post in which he vowed to get the decision set aside as only God can bankrupt me.
There has been a flurry of activity in recent days as Mehajer money is moved around as assets were sold and almost sold.
In recent days, there have been signs his family has …
Read the full article at: http://www.news.com.au/national/nsw-act/courts-law/salim-mehajers-family-goes-on-selling-spree/news-story/a9cfbf2af5b959e30774de41e704dfb5
Red Lea Chickens, who own a 155 hectare poultry farm near Tamworth, were placed into voluntary administration over the long weekend, causing the immediate loss of at least 500 jobs throughout the state.
While Red Lea did not respond to enquiries, The Leader understands that a large number of local jobs will be lost in the fall-out, after it was revealed by Farmers NSW that the company owed a combined $4 million to 28 poultry farmers around the state.
NSW Farmers CEO Matt Brand said they commenced legal proceedings late last year in an effort to recoup the money before the voluntary administration began.
Were disappointed with Red Lea Chickens for not revealing the true financial mess the company was in when it gave solid commitments to farm…
Read the full article at: https://www.northerndailyleader.com.au/story/5325980/hundreds-of-jobs-lost-as-poultry-farm-enters-voluntary-administration/
For the first time in 15 months, Reggie Rucker is a free man.
On Friday, he spoke exclusively with Channel 3s Andrew Horansky about his time in federal prison and the one thing that humbled him most.
I suffered a lot. Ive lost a lot, he said.
In late 2016, Rucker was sentenced to 21 months in federal prison for embezzlement, yet he only ended up serving 15 months.
He was recognized on the inside by Browns and Steelers fans alike, but says he often thought about his wife.
Lying in those cots, you know, you think, you know she didnt deserve what you did and she often spoke to you a lot about your gambling, he said.
Ruckers weakness was blackjack.
He admits he spent as much as $5,000 a hand. It led to debt, and ultimatel…
Read the full article at: https://www.wkyc.com/article/news/local/cleveland/former-cleveland-browns-wr-reggie-rucker-opens-up-about-his-gambling-addiction/95-548951889
A soldier was left £12,000 in debt after a brain injury triggered a serious gambling addiction.
Fraser Howie, 25, was a passenger in a car which spun off the road and hit a tree after the driver swerved to avoid a pothole.
His four friends escaped unharmed but Fraser, who was asleep in the back, had no chance to brace and suffered massive injuries.
He was left with a broken neck, fractures to his spine, skull, eye-socket, nose, legs and arms and completely lost his sense of smell.
But it was the unseen damage to Frasers personality that proved life-changing as he developed an addictive personality disorder and behavioural issues, leaving him feeling isolated and alone.
Fraser, from Paisley, now wants access to online gambling tightened t…
Read the full article at: https://www.dailyrecord.co.uk/news/scottish-news/soldier-left-12000-debt-after-12483061
When Sanjeev Gupta left Ludhiana, Punjab, in the early 1980s to study in the UK as an 11-year-old, not many would have thought he would return three decades later to emerge as the biggest saviour of multiple Indian companies facing insolvency proceedings in Indian courts.
Today, 46-year-old Gupta-owned Liberty House is a strong contender to take over auto parts maker Amtek Auto, ship builder ABG Shipyard and steel companies Bhushan Power & Steel and Adhunik Metaliks.
While litigation in these insolvency cases will take some time to resolve and one can expect more surprises on the way, Gupta has made sure that his voice is heard among the big boys of corporate India, which a…
Read the full article at: http://www.business-standard.com/article/companies/insolvency-proceedings-sanjeev-gupta-front-runner-for-stressed-companies-118050500020_1.html
Roman Costica, a 44 year old father of four who has lived in Ireland for the past 22 years but never worked here, pleaded guilty at Cork Circuit Criminal Court to the theft of 38,000 worth of rings from Barnes Jewellers at Patrick Street in Fermoy, on August 15, 2017.
Det Garda Denis Ryan told the court how Costica spent some time casing the premises including going into the shop on three separate occasions prior to the theft when he watched staff members open the door on a glass case to access rings on display in the window.
Costica snatched a tray containing 14 18 carat gold rings when the door to the glass case was momentarily left open and he fled the shop but he was caught on CCTV footage and gardai were able to identify him a…
Read the full article at: https://www.independent.ie/regionals/corkman/news/suspended-sentence-for-man-who-stole-38k-worth-of-rings-36867931.html
Introduction
Facts
Recognition of foreign bankruptcy decrees
Considerations
Comment
Under Swiss law a foreign trustee of an insolvent foreign entity cannot act in relation to assets which are located in Switzerland, unless the respective foreign bankruptcy decree is recognised by a Swiss court. On recognition, a mandatory auxiliary insolvency procedure in Switzerland is initiated and a Swiss trustee is appointed. For a foreign bankruptcy decree to be recognised, the applicant must prove, among other things, that the state which rendered the bankruptcy decree would in turn recognise a Swiss bankruptcy decree (Articles 166 and following of the Code on Private International Law).
In a January 25 2018 d…
Read the full article at: https://www.internationallawoffice.com/Newsletters/Litigation/Switzerland/Lenz-Staehelin/Zug-Cantonal-Court-grants-reciprocity-in-Singapore-insolvency-proceedings
A Conway man, arrested three times in one week on the Conway Golf Clubs property, has filed a motion asking that his attorney be allowed to intervene on his behalf in the legal proceedings surrounding the possible sale of the property.
Christopher Ross, 53, says in his motion that he cant properly represent himself because he is being held in the J. Reuben Long Detention Center awaiting his day in court on charges of malicious injury to property, $2,000 or less; trespassing; resisting arrest, and third-degree burglary, according to Horry County jail records.
Beverly Homes of Conway has a contract for just over $2 million now to buy the 66-…
Read the full article at: https://www.myhorrynews.com/news/man-arrested-three-times-at-the-conway-golf-club-wants/article_4508ccd8-4fd3-11e8-b40b-f75116cce58b.html