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Rigby Cooke Lawyers has strengthened its expertise in litigation and insolvency with the appointment of Katerina Poulakis as senior associate.Poulakis,
Rigby Cooke Lawyers has strengthened its expertise in litigation and insolvency with the appointment of Katerina Poulakis as senior associate.
Poulakis, who has 10 years experience as a lawyer, came from SLF Lawyers. She has a wide range of expertise, including acting in contract, franchise, property and Australian Consumer Law disputes. She also advises in personal and corporate insolvency and reconstruction law.
In my new role, Ill continue to work closely with clients across industries including property development, transport and logistics, hotels and accommodation, manufacturing, healthcare and pharmaceuticals, as well as insolvency practitioners and major overseas insurers, to achieve optimal legal…
NEW DELHI: Allahabad bench of the bankruptcy court has rejected a plea from Exim Bank to treat its claim of Rs 625 crore on JEKPL Private Limited to be treated as financial debt after insolvency proceedings have been filed against the Allahabad-based firm.
The decision of Allahabad National Company and Law Tribunal (NCLT) is expected to further push lenders not to dither in filing insolvency proceedings after similar action has been taken by other creditors, said two officials aware of the verdict.
Exim Bank had approached NCLT after resolution professional Mukesh Mohan rejected its claim to treat the counter corporate guarantee of Rs 625 crore given to JEKPL as a valid claim under financial debt and to include it in committee of cre…
A file photo of the Sebi headquarters in Mumbai. Eleven of the 12 large NPA accounts currently under insolvency proceedings, including Bhushan Steel Ltd, Alok Industries Ltd, Amtek Auto Ltd, Lanco Infratech Ltd, Electrosteel Steels Ltd and Era Infra Engineering, are listed companies. Photo: Abhijit Bhatlekar/Mint
Mumbai: A committee set up to ease listing, compliance and disclosure regulations for companies in the process of insolvency resolution has submitted its recommendations to market regulator Securities and Exchange Board of India (Sebi), two people with direct knowledge of the matter said.
The committee comprising members from Sebi and the Insolvency and Bankruptcy Board of India (IBBI) was formed considering that 11 of the 12 larg…
The Department of Justice trustee assigned to Toys R Us bankruptcy case has written a fiercely worded letter criticising the retailers plan to pay executives multimillion-dollar sums.
In a statement, Toys R Us defended the motion as standard practice.
A final decision will be made in court in December.
Toys R Us bankruptcy proceedings are off to a rocky start.
In a fiercely worded letter, Judy A. Robbins, the Department of Justice trustee assigned to Toys R Us bankruptcy case, argued that the retailers plan to pay multimillion-dollar bonuses to executives defies logic and sense, as reported by The Record.
The letter was written in response to a motion, filed by Toys R Us in bank…
Women in the United States are often at a disadvantage financially; they make only about 82 cents on the dollar when compared to their male counterparts, and they are less likely to look for new investments to increase their wealth. Women are 80% more likely than men to be stricken by poverty in their retirement, and they are significantly more likely to be working part time when compared to their male coworkers as well. Freedom Debt Relief Reviews wants to help close the gap by providing advice for women who are looking to up their investing knowledge. There are several ways that women can get closer to the male-dominated financial world- here are a few places to start.
Build your investment confidence. While men are more likely t…
NEW DELHI: Allahabad bench of the bankruptcy court has rejected a plea from Exim Bank to treat its claim of Rs 625 crore on JEKPL Private Limited to be treated as financial debt after insolvency proceedings have been filed against the Allahabad-based firm.
The decision of Allahabad National Company and Law Tribunal (NCLT) is expected to further push lenders not to dither in filing insolvency proceedings after similar action has been taken by other creditors, said two officials aware of the verdict.
Exim Bank had approached NCLT after resolution professional Mukesh Mohan rejected its claim to treat the counter corporate guarantee of Rs 625 crore given to JEKPL as a valid claim under financial debt and to include it in committee of cre…
NEW DELHI: Government may consider giving different treatment to small and medium enterprises (SMEs) under the Insolvency and Bankruptcy Code (IBC) since they usually have limited number of buyers and rely largely on promoters for a resolution.
It is my view that we have to consider the case of SMEs objectively since they form the backbone of the country and create huge employment, PP Chaudhary, minister of state for corporate affairs and law & justice, told ET.
A recent ordinance has amended IBC barring promoters from presenting a resolution plan for companies facing insolvency. This has put SMEs at a disadvantage by limiting their resolution options and forcing them to liquidate. If they (SMEs) face a problem, then the government c…
Financial advisers don’t always agree, but when it comes to
lending money to family, there’s consensus: Tread carefully.
If an adult child needs help buying a first home or has a
promising business idea, a family loan can be a fast and
convenient option. But there’s a risk of drama down the road.
Here are tips for lending and borrowing money among relatives.
PROS AND CONS OF FAMILY LOANS
There are advantages of a family loan for a borrower: no credit
check, low or no interest and flexible payback terms.
It can also be a way to help young adults learn about financial
responsibility, says Walter Pressey, a retired financial industry
executive in Boston who loaned money to…
Welcome to this week’s Chutes and Ladders, our roundup of hirings, firings and retirings throughout the industry. Please send the good wordor the badfrom your shop to Angus Liu (email) and we will feature it here at the end of each week.
Teva kicks out high-level executives in drastic structure shakeup
Teva CSO Michael Hayden will leave.
A shakeup at Teva was expected when Kåre Schultz, who pushed for a rejig at Lundbeck, came on board as CEO. Schultz did live up to his reputation with a company-wide restructuring, but at a scope perhaps few had foreseen. The company will combine its generics and specialty medicines into one commercial organization with three geographic segments, and their R&D efforts will also be put together. As a resul…
NEW DELHI: The ordinance aimed at keeping promoters who are wilful defaulters from bidding for their companies during the insolvency process was the result of lengthy deliberations and will improve the lending and borrowing culture in the country, corporate affairs secretary Injeti Srinivas told ET. Further changes to the Insolvency and Bankruptcy Code (IBC) will be made as needed, he added.
People will now think twice before gold plating, he said in an interview. From the lenders side also, now when you are lending, nothing other than viability and feasibility will be the determining factor.
The government promulgated an ordinance last week amending the IBC to keep wilful defaulters, undischarged insolvents and disqualified director…
Financial advisers don’t always agree, but when it comes to lending money to family, there’s consensus: Tread carefully.
If an adult child needs help buying a first home or has a promising business idea, a family loan can be a fast and convenient option. But there’s a risk of drama down the road.
Here are tips for lending and borrowing money among relatives.
PROS AND CONS OF FAMILY LOANS
There are advantages of a family loan for a borrower: no credit check, low or no interest and flexible payback terms.
It can also be a way to help young adults learn about financial responsibility, says Walter Pressey, a retired financi…
