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SAI has branches in Worcester, Hereford and Northampton, while BM operates across London and the South East. The new merged company will be called Benedict Mackenzie.
Company director Sanjay Swarup said: The combined entity of BM and SAI brings together more than 20 years of experience of providing insolvency and advisory services.
The scale will allow for better service, with increased efficiencies.
Company director Carrie James, the insolvency appointment taker, said: The practice is committed to investment in latest technology and working practices so that our customers can get the best service.
We now have physical presence across the South East, Worcestershire, Herefordshire and Northamptonshire.
Binani Cement owes close to Rs3,042.93 crore to a consortium of lenders. Photo: Mint
Mumbai: At least two lenders of Binani Cement Ltd, currently undergoing insolvency proceedings, have moved the appellate bankruptcy tribunal after the insolvency resolution professional (IRP) rejected their claims on corporate guarantees worth Rs2,000 crore issued by the company to some subsidiaries in the Binani group.
According to two persons aware of the matter who spoke on condition of anonymity, IDBI Bank and State Bank of India (SBI) have now approached the National Company Law Appellate Tribunal (NCLAT).
The background to the development is as follows: Banks, including IDBI Bank and SBI, had lent money to some companies in the Rajasthan-based Binani …
SOFIA (Bulgaria), January 12 (SeeNews) – Bulgaria’s central bank said it granted an approval to the local branch of French bank BNP Paribas Personal Finance S.A. to succeed the rights and obligations of Sofia-based BNP Paribas Personal Finance EAD as part of the company’s restructuring plan in Bulgaria.
The new branch will succeed the consumer lending activity and payment services business of BNP Paribas Personal Finance EAD and may also offer other services as a credit institution, the Bulgarian National Bank (BNB) said in a statement.
BNP Paribas Personal Finance EAD will terminate its operations as a payment institution as of February 1. As of the same date, BNP Paribas Personal Finance S.A. will start operat…
Government and stakeholders are meeting over Carillion’s future (PA)
Carillion knocked back over business plan as crunch meeting looms
Independent.ie
The crisis at Carillion looks set to deepen after it emerged that lenders to the construction giant effectively rejected a rescue plan proposed by the debt-laden group.
According to the Money Advice Service, 10% of the population could be suffering in silence with serious money problems, with young adults, people who rent their homes, large families and single parents noticeably at higher risk.
If you’re trapped in a spiral of overdrawn credit cards, unpaid rent, bills and more – there are ways to deal with it.
Sheila Wheeler, director of Debt Advice at the Money Advice Service, said: “Friends and family will want to help and support you.
“Free debt advice is available now and will help support you in getting your…
INVESTMENT holding company k1 Ventures Limited (k1) announced on Friday that it intends to undertake a proposed members’ voluntary liquidation of the company.
This comes after k1 completed the disposal of its entire interests in Chicago-based financial services and investment management holding company Guggenheim Capital for approximately US$221 million on Nov 17.
The company also placed its wholly owned subsidiary, FSHCO Holdings, under members’ voluntary liquidation on Dec 27.
k1 will proceed with the voluntary liquidation once it gets approval from shareholders owning at least 75 per cent of all shares at an upcoming extraordinary general meeting.
Following the approval by the company’s shareholders …
A health technology firm in Sioux Falls laid off multiple employees Wednesday.
DocuTap confirmed the layoffs Thursday, although it didn’t confirm the number of employees who lost their jobs.
“We did do a strategic restructuring yesterday,” said Dusty Schroeder, Docutap’s vice president of marketing. He included a company statement regarding the layoffs.
According to multiple sources, the layoffs totaled a couple dozen employees. The sources declined to be named due to nondisclosure agreements signed with DocuTap.
“Weve made some strategic new hires and staff adjustments to ensure were able to provide urgent care c…
IVRCL was locked at 5% upper circuit at Rs 6.45 at 15:00 IST on BSE, with the stock extending surge triggered by the company announcing that its lender, State Bank of India has initiated corporate insolvency resolution process against the company.
The announcement was made during market hours yesterday, 11 January 2018. The stock was locked at 5% upper circuit at Rs 6.15 yesterday, 11 January 2018.
Meanwhile, the S&P BSE Sensex was up 71.61 points, or 0.21% to 34,575.10. The S&P BSE Small-Cap index was up 30.52 points, or 0.15% to 20,014.45, underperforming the Sensex.
On the BSE, 5.88 lakh shares were traded in the counter so far, compared with average daily volumes of 5.14 lakh shares…
Jan 12 (Reuters) – Indias National Company Law Tribunal (NCLT) has ordered liquidation of Gujarat NRE Coke Ltd after the companys debt resolution plans failed.
The Kolkata bench of the NCLT, the designated court for bankruptcy cases, on Thursday passed the order, which was filed with the stock exchanges on Friday.
NCLT-appointed liquidator will first try to dispose off the company as a “going concern” in a bid to save jobs of the 1,178 employees, according to the order. If the plan does not succeed within three months, then other modes of asset sales will be explored, the NCLT said. bit.ly/2D32M3g
Under Indias bankruptcy rules, a company goes into liquidation if no other debt resolution plan works out even after 270 days of the insolve…
Jan 12 (Reuters) – India’s National Company Law Tribunal (NCLT) has ordered liquidation of Gujarat NRE Coke Ltd after the company’s debt resolution plans failed.
DOMINIC Chappell purchased British high street chain BHS for £1 from Sir Philip Green in 2015 just over a year before its collapse with a multi-billion pensions black hole.
Dominic Chappell has since been found guilty of failing to provide information to the Pensions Regulator after the chain went bust – but who is he and what is his story?
Reuters
Dominic Chappell, former racing driver and bankrupt, purchased BHS a year before its collapse
Who is Dominic Chappell and what’s his net worth?
Dominic Chappell was not widely known ahead of his purchase of BHS, but he had been declared insolvent three times twice through bankruptcy.
Born in Surrey in November 1966, he competed as a racing driver between 1986 and 1999.
Shares of Dish TV India Ltd dropped as much as 8.1 per cent to Rs 77. The stock hits its lowest since November 23.
Dish TV stock posted biggest intraday percentage loss since July 21. About 15.8 million shares traded, about 2.7 times the 30 day average of 5.9 mlillion.
The direct-to-home operator said it is evaluating the impact on rights, and obligations under its merger deal with Videocon d2h Ltd following insolvency proceedings against certain entities of Videcon Group.
Dish TV and Videocon d2h had announced a merger in November 2016, which they earlier expected to close by December 27, 2017. In a December 22 filing, the company told the exchanges that necessary filings around the deal closure w…
