Insolvency Guardian Media Centre
High-profile barrister Charles Waterstreet has declared bankruptcy, casting doubt on his ability to continue practising at the Sydney Bar.
The 68-year-old lodged documents with the Australian Financial Security Authority on March 13 and is now listed as an undischarged bankrupt on the national personal insolvency index.
Mr Waterstreet has been at the centre of a series of controversies in recent months, including allegations of sexual harassment made against him by a number of female paralegals.
The allegations, vehemently denied by Mr Waterstreet, led the University of Sydney to ban him last year …
Read the full article at: http://www.canberratimes.com.au/nsw/charles-waterstreet-s-future-as-barrister-in-doubt-as-he-declares-bankruptcy-20180406-p4z888.html
Anticipating a difficult resolution for the Assam Company India Ltd, which is facing insolvency proceedings in the Guwahati bench of NCLT, the companys resolution professional, T Kannan has asked for an extension till July 23 from the tribunal to complete the process.
The problem is on account of the debt structure of the company. Sources suggest that the maximum debt has been taken by the company for the oil business whose assets currently have negligible liquidation value. On the other hand, its only assets are the 14 tea gardens which can fetch a liquidation value of Rs 2.8-3.5 billion but then the debt is minimal for the tea business.
This will put the bidders under dil…
Read the full article at: http://www.business-standard.com/article/companies/assam-company-resolution-process-likely-to-be-difficult-rp-seeks-extension-118040800398_1.html
Dalmia Cement is confident that its Rs 6,350 crore offer to buy Binani Cements Ltd (BCL) will be approved by the NCLT on the back of NCLAT directions to proceed the insolvency resolution as per the IBC, according to a top company official.
Last week, the committee of creditors (CoC) of Binani Cement had decided to stick with the offer from Dalmia Bharat Cement for the debt-ridden firm’s sale under the Insolvency and Bankruptcy Code (IBC).
Moreover, the National Company Law Appellate Tribunal (NCLAT) had also asked the adjudicating authority, which is National Company Law Tribunal (NCLT), to proceed with the resolution process of Binani Cement as per the IBC.
“As far as we are concerned, we have a clear cut direction from NCLAT to do the p…
Read the full article at: https://www.businesstoday.in/current/corporate/dalmia-cement-confident-of-getting-nclt-nod-to-buy-binani-cement/story/274375.html
Dalmia Cement is confident that its Rs 6,350-crore offer to buy Binani Cements Ltd (BCL) will be approved by the NCLT on the back of NCLAT directions to proceed the insolvency resolution as per the IBC, according to a top company official.
Last week, the Committee of Creditors (CoC) of Binani Cement had decided to stick with the offer from Dalmia Bharat Cement for the debt-ridden firm’s sale under the Insolvency and Bankruptcy Code (IBC).
Moreover, the National Company Law Appellate Tribunal (NCLAT) had also asked the adjudicating authority, which is National Company Law Tribunal (NCLT), to proceed with the resolution process of Binani Cement as per the IBC.
“As far as we are concerned, we have a clear cut direction from NCLAT to do…
Read the full article at: https://economictimes.indiatimes.com/industry/indl-goods/svs/cement/dalmia-cement-confident-of-getting-nod-for-binani-cement/articleshow/63665024.cms
Image copyright
Getty Images
Schools should be given free textbooks so they can teach children about personal finance.
The Scottish Conservatives want to see a recently-launched English initiative to help pupils learn about savings and debt rolled out in Scotland.
The party said the Scottish government could look at offering funding for the scheme alongside businesses.
But the government said there are “a range of resources available” to teach financial education.
Tory economy spokesman Dean Lockhart said: “It’s essential our young people learn about all aspects of personal finance.
“It will improve their own education,…
Read the full article at: http://www.bbc.com/news/uk-scotland-43681481
Is east Cork the new Cork? Pearse Flynn, tech veteran, football club owner and now top insolvency adviser, must hope so, given his ever-rising commitment to his home town of Ballycotton.
Flynn has built an architectural gem of a home in the town, on the cliffs overlooking Ballycottons brooding island lighthouse. Local reports say he has also snapped up the Inn by the Harbour and the former Church of Ireland church.
Flynn was a top figure in the wiring of the internet, selling Canadian company Newbridge Networks to Alcatel for $7bn (5.7bn) in the dotcom boom. He set up Damovo, a systems integrator, then rescued call-centre firm Contact4 before setting up Creditfix, one of the UKs largest personal insolvency advisers. He also found time to
Read the full article at: https://www.thetimes.co.uk/article/insolvency-boss-is-in-like-flynn-in-ballycotton-ssz0c9220
Binani Cement is likely to move the Supreme Court on Monday to end insolvency proceedings against it. The companys lenders have asked it obtain the necessary permission before consenting to an out-of-court settlement.
The lenders met on Saturday. After the meeting some of them confirmed the meeting was held to consider the cement makers revised proposal to pay back the entire sum it owed, along with interest.
A banker said they were happy with the proposal. It is an excellent proposal, but we need the Supreme Courts approval to go ahead with this. Binani Cement told us it is going to move the Supreme Court on Monday, he added. A source close to Binani also confirmed the pla…
Read the full article at: http://www.business-standard.com/article/companies/binani-likely-to-move-sc-on-ultratech-plan-118040800027_1.html
A former all-pro running back cant run from a gambling debt. After more than seven years of legal wrangling, NFL star Clinton Portis has agreed to a payment plan with the Borgata casino in Atlantic City to repay $190,000 he borrowed in 2011 and lost.
Former NFL star Clinton Portis has agreed to pay off a 2011 debt to Borgata. (Image: denverpost.com)
During the 2011 gambling session in question, the Borgata had extended the Washington Redskins star a $200,000 line of credit. He paid back $30,000, but since then has been unwilling or unable to pay off the remaining balance, which has grown to $190,000 due to interest.
Portis reached an agreement with the Borgata, an MGM Resorts-owned property, in Florida bankruptcy court this past week.