Insolvency Guardian Media Centre

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Independent directors in a fix after SC order on asset transfer in Jaiprakash Associates case – Economic Times
MUMBAI: A recent Supreme Court judgement restraining independent directors of Jaiprakash Associates from transferring any personal assets over a group
CAN DO plans new building in Valmont – Standard Speaker
Article Tools HAZLETON A new building may be constructed in Valmont Industrial Park, even though most of the land
Labour hire companies face harsher penalties under new SA laws if workers exploited – ABC Online
People running labour hire companies that exploit workers and dodge tax will face up to three years in jail
Markets Live: Banks power ASX gains – The Sydney Morning Herald
Meanwhile, eChoice, an award-winning mortgage aggregator with more than 400 brokers, could be sold to a 'major financial institution' after
Avaya Announces Court Approval of Restructuring Plan – CSO Australia
Santa Clara, Calif., November 28, 2017 Avaya announced today that the United States Bankruptcy Court for the Southern District of
Nomura to inject nearly $900m into new business for restructuring, management buyouts – Financial Times
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Court orders liquidation of Uniwide – Inquirer.net
A regional trial court has issued an order to liquidate the assets of the Uniwide group, declaring as insolvent the
Telecoms Up, But Not By Much, On Cyclical Move — Telecoms Roundup – Fox Business
Shares of telecommunications companies rose, but not by as much as the broad market, as traders rotated into economically sensitive
Autodesk Stock Tumbles On Guidance, Plans For Restructuring – Nasdaq
Autodesk ( ADSK ), a maker of computer-aided design software, reported slightly better-than-expected fiscal third-quarter results, but gave mixed guidance
Why some companies are offering to help pay off employees’ student debt – The Globe and Mail
Melissa Pecman finished university feeling the way many graduates do: stressed about her student debt. She landed a job as
Only ‘errant promoters’ need fear IBC: Centre | Business Line – Hindu Business Line
Slams canard, says ordinance levels thefield for applicants New Delhi, November 27:   In defence of its recent insolvency ordinance, the
Avaya Announces Court Approval of Restructuring Plan – Markets Insider
SANTA CLARA, CA--(Marketwired - November 28, 2017) - Avaya announced today that the United States Bankruptcy Court for the Southern

MUMBAI: A recent Supreme Court judgement restraining independent directors of Jaiprakash Associates from transferring any personal assets over a group companys insolvency issue has sent shock waves through the independent directors fraternity, with experts warning that there would be few takers for this role.

Several independent directors on boards of companies are now seeking legal advice to find out to what extent they can be held liable for any operational issues in those firms.

Kiran Mazumdar Shaw, chairperson of Biocon, said the country is moving from poor governance to extreme governance. It is unfair to place the entire onus on independent directors who are only privy to the information shared with them by the management, she …

Read the full article at: https://economictimes.indiatimes.com/news/company/corporate-trends/independent-directors-in-a-fix-after-sc-order-on-asset-transfer-in-jaiprakash-associates-case/articleshow/61841159.cms

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HAZLETON A new building may be constructed in Valmont Industrial Park, even though most of the land there is spoken for.


Officers of CAN DO Inc., the areas economic developers, told the organizations board of directors recently there is a parcel of land planned for a building that was never built that would be a good place for a speculative industrial building.


In the late 1980s, a private developer, March Development of Allentown, bought land on the north side of Rotary Drive a…

Read the full article at: http://standardspeaker.com/news/can-do-plans-new-building-in-valmont-1.2273237

People running labour hire companies that exploit workers and dodge tax will face up to three years in jail under laws that have passed South Australia’s Parliament.

The laws were sparked by a Four Corners investigation that found extreme exploitation and slave-like conditions in the food production industry, mostly affecting workers employed by labour hire companies.

The legislation means companies operating in South Australia must be licensed and will face tougher penalties, including jail time, if they flout the law.

Employment Minister Kyam Maher told Parliament unscrupulous operators were underpaying workers and avoiding tax, workers compensation payments…

Read the full article at: http://www.abc.net.au/news/2017-11-29/sa-parliament-passes-harsher-laws-for-labour-hire-companies/9206328

Meanwhile, eChoice, an award-winning mortgage aggregator with more than 400 brokers, could be sold to a ‘major financial institution’ after being placed into voluntary liquidation because of unsustainable debt.

Tony Wales, a director of eChoice and Welas, a private investment company, which is a secured creditor of eChoice, called in liquidators’ Rodgers Reidy after deciding that he could no longer support the group in its current form.

A spokesman for the liquidator said eChoice is in liquidation because of an “unsustainable historical debt burden to Welas Pty Ltd, which had supported the group for many years but formed the view that it could no longer continue support”.

Thirteen subsidiaries, which are involved in activit…

Read the full article at: http://www.smh.com.au/business/markets-live/markets-live-bright-start-ahead-for-asx-20171128-gzus12.html

Santa Clara, Calif., November 28, 2017 Avaya announced today that the United States Bankruptcy Court for the Southern District of New York (the Court) has confirmed its second amended chapter 11 plan of reorganization (the Plan). As a result, Avaya expects to emerge from its restructuring process before the end of this year.

The Courts approval of our plan is the culmination of months of hard work and extensive negotiations among our various stakeholders, said Jim Chirico, Avayas President and CEO. In the coming weeks, Avaya will emerge from this process stronger than ever and positioned for long-term success, with the financial flexibility to create even greater value for our customers, partners and stockholders.

Avaya proje…

Read the full article at: https://www.cso.com.au/mediareleases/30752/avaya-announces-court-approval-of-restructuring/

Hudson Lockett

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