Insolvency Guardian Media Centre
Patricia Simpson (left), Heidi Campbell, two of the team who set up a stall at Glen Innes court to offer advice to those who may have fallen foul of the court previously.
Lawyers have been touring New England offering free advice to people in financial trouble.
They set up stall on the steps of the Court House in Glen Innes on Wednesday and talked to people about how they could cope with fines or other debts which were drowning them in money troubles.
The team from Legal Aid NSW said people had been coming to them on their trestle table on the veranda of the court. Glen Innes is part of a national tour by Legal Aid NSW.
What to do with serious debt.
The main advice they gave was that all is not lost when and if the nasty l…
Read the full article at: http://www.armidaleexpress.com.au/story/5311757/debt-all-is-not-lost-video/?cs=12
In a slew of decisions, Sebi on Wednesday changed the way Indian companies will do business. From accepting most of the Kotal Panel recommendations to slashing charges for mutual funds schemes, here is the list of all the decisions taken at the Sebi board meet.
The Sebi Board met in Mumbai on Wednesday and took the following decisions:
1.
Decision on the Recommendations of Kotak Committee on Corporate Governance
1.1. The Board considered the Kotak Committee recommendations and the public comments thereon.
1.2. The Board decided to accept several recommendations of the Committee without any modifications including the following:
I.Reduction in the maximum number of listed entity directorships from 10 to 8 by April 01, 2019 and to 7 …
Read the full article at: https://economictimes.indiatimes.com/markets/stocks/news/full-text-of-key-decisions-at-sebis-board-meet/articleshow/63516953.cms
The court appointed Vita Dika as the new insolvency administrator for the insolvent Latvian steel company KVV Liepajas Metalurgs, the Kurzeme Regional Court reported. Dika, a certified lawyer, is currently serving as an insolvency administrator of a number of other companies.
As reported, the Kurzeme Regional Court on March 21 removed Guntars Koris as the insolvency administrator of KVV Liepaja Metalurgs because the man has lost his insolvency administrator’s license after flunking a re-certification exam at the beginning of March. The court also requested the Insolve…
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Read the full article at: https://www.baltictimes.com/new_insolvency_administrator_appointed_for_troubled_latvian_steel_company_kvv_liepajas_metalurgs/
Its been another volatile trading day with investors adopting a cautious approach in contrast to yesterdays strong rebound.
Europe
The focus continues to be on the US tech story and this is weighing on any attempt to push higher for European stocks, which have remained under pressure albeit above their recent lows.
The FTSE 100 has managed to set itself apart from the wider weaker tone in Europe but that has largely been down to another M&A story, this time involving Shire, which has once again found itself in the crosshairs of an overseas suitor.
There had been some whispers in early trading that a bid might be in the offing, and this was confirmed by a mid-morning announcement from Japans Takeda that they were looking at the possibility of…
Read the full article at: https://www.cmcmarkets.com/en-au/news-and-analysis/ftse-gets-a-boost-from-the-shire
Deccan Chronicle Holdings has received an additional 87 days to wrap up its insolvency resolution process beyond the 270-day initial deadline, on account of litigation. The Hyderabad bench of the National Company Law Tribunal (NCLT) has extended the time for this till July 10. The Hyderabad Bench of the National Company Law Board, without extending the 270-day period, has ordered exclusion of 87 days from 270 days, on account of the time consumed by litigation. According to Insolvency and Bankruptcy Code (IBC) norms, restructuring a company has to conclude within 180 days after NCLT admits an insolvency case. This deadline can be extended by 90 days, after which extensions are not permitt…
Read the full article at: http://www.business-standard.com/article/companies/deccan-chronicle-holdings-gets-87-days-more-for-insolvency-resolution-118032801310_1.html
Mumbai, Mar 28 () Markets regulator Sebi today said it plans to amend norms pertaining to minimum public shareholding and other provisions as well as put in place additional disclosure requirements for listed corporates undergoing insolvency resolution process.
After approval from its board today, Sebi has come out with a discussion paper on compliance with Sebi Regulations by listed entities undergoing corporate insolvency resolution process under the IBC.
The proposal comes at a time when there are increasing number of cases coming up under the Insolvency and Bankruptcy Code (IBC) as entities look to address issues of stressed assets in a time-bound manner.
“Various issues flagged in the discussion paper include aspects relating to di…
Read the full article at: https://timesofindia.indiatimes.com/business/india-business/sebi-plans-revised-norms-for-cos-undergoing-insolvency-proceedings/articleshow/63519972.cms
One of the main issues with the erstwhile Board for Industrial and Financial reconstruction (BIFR) was that the cases were taking ages to be resolved. During its life of 29 years, BIFR has managed to turn around some companies but a significant number of sick companies managed to turn only sicker.
The Government dissolved it in 2016 and replaced it with the National Company Law Tribunal (NCLT). The NCLT needed an Act to commence its work; after some delay, the Government gave it the freshly minted Insolvency and Bankruptcy Code (IBC).
The IBCs preamble states it has been enacted to consolidate and amend the laws on reorganisation and insolvency resolution of corporates, partnership firms and individuals in a time-bound manner for maxim…
Read the full article at: https://www.thehindubusinessline.com/opinion/insolvency-and-bankruptcy-code-benefits-and-problems/article23375019.ece
SEOUL (Reuters) – South Koreas auto-to-steel giant Hyundai Motor Group will streamline its complex ownership structure, as it responds to calls from the government and investors to reform the countrys powerful family-controlled conglomerates or chaebol.
Hyundai Mobis Co Ltd (012330.KS), a key affiliate, will spin off its module and after-service parts businesses and merge them with another group affiliate, Hyundai Glovis (086280.KS).
Parent Hyundai Motor Groups Chairman Chung Mong-koo and his son Chung Eui-sun, who is vice chairman, will then buy stakes in Mobis held by other affiliates Kia Motors (0002…
Read the full article at: https://www.reuters.com/article/us-hyundai-mobis-board/hyundai-group-to-streamline-ownership-structure-in-reform-push-idUSKBN1H41AZ
MUMBAI: Markets regulator Sebi today said it plans to amend norms pertaining to minimum public shareholding and other provisions as well as put in place additional disclosure requirements for listed corporates undergoing insolvency resolution process.
After approval from its board today, Sebi has come out with a discussion paper on compliance with Sebi Regulations by listed entities undergoing corporate insolvency resolution process under the IBC.
The proposal comes at a time when there are increasing number of cases coming up under the Insolvency and Bankruptcy Code (IBC) as entities look to address issues of stressed assets in a time-bound manner.
“Various issues flagged in the discussion paper include aspects relating …
Read the full article at: http://www.newindianexpress.com/business/2018/mar/28/sebi-plans-revised-norms-for-companies-undergoing-insolvency-proceedings-1793874.html
A
Hyundai Motor’s booth is seen near the Pyeongchang Olympic Plaza
in Pyeongchang
Thomson
Reuters
By Hyunjoo Jin and Joyce Lee
SEOUL (Reuters) – South Korea’s auto-to-steel giant Hyundai Motor
Group will streamline its complex ownership structure, as it
responds to calls from the government and investors to reform the
country’s powerful family-controlled conglomerates or chaebol.
Hyundai Mobis Co Ltd , a key affiliate, will spin off its module
and after-service parts businesses and merge them with another
group affiliate, Hyundai Glovis .
Parent Hyundai Motor Group’s Chairman Chung Mong-koo and his son
Chung Eui-sun, who is vice chair…
Read the full article at: http://www.businessinsider.com/r-hyundai-group-to-streamline-ownership-structure-in-reform-push-2018-3
NEW DELHI: The Securities and Exchange Board of India (Sebi) is set to hold its board meeting on Wednesday. The capital markets regulator is likely to discuss a host of issues, including ways to strengthen algo trading, amendments to rules on angel funds, mutual funds, buybacks, and takeovers.
Let’s check what could be in store.
Algo trading framework
The algorithmic trading framework is under the microscope. Sebi has proposed a review of the trading requirement to strengthen the algorithmic framework by mandating stock exchanges to provide a simulated market environment for testing of such software. The algo trade is of high frequency and has been under public glare because of an ongoing probe concerning leading stock exchange NSE….
Read the full article at: https://economictimes.indiatimes.com/markets/stocks/news/sebi-board-meet-today-what-you-can-expect/articleshow/63503356.cms
By Hyunjoo Jin and Joyce Lee
Hyundai group to streamline ownership structure in reform push
SEOUL (Reuters) – South Korea’s auto-to-steel giant Hyundai Motor Group will streamline its complex ownership structure, as it responds to calls from the government and investors to reform the country’s powerful family-controlled conglomerates or chaebol.
Hyundai Mobis Co Ltd <012330.KS>, a key affiliate, will spin off its module and after-service parts businesses and merge them with another group affiliate, Hyundai Glovis <086280.KS>.
Parent Hyundai Motor Group’s Chairman Chung Mong-koo and his son Chung Eui-sun, who is vice chairman, will then buy stakes in Mobis held by…
Read the full article at: https://au.news.yahoo.com/a/39659276/hyundai-group-to-streamline-ownership-structure-in-reform-push/