Stay informed with the latest in insolvency news and industry updates. We can keep you up to date with insolvency and finance information from around the world.
VANCOUVER, April 17, 2017 /CNW/ – Rockwell Diamonds Inc. (“Rockwell” or the “Company”) (TSX:RDI; JSE:RDI) provides an update to the interim liquidation order against three subsidiaries of the Company issued by a judge in Kimberley, South Africa, on March 23, 2017. The interim orders, which have yet to be confirmed in a final hearing, include Rockwell Resources RSA (Pty) Ltd (Rockwell RSA), HC van Wyk Diamonds Ltd (HC van Wyk) and Saxendrift Mine (Pty) Ltd (Saxendrift). Interim liquidators have been appointed by the Master of the High Court, in accordance with requisitions by the major creditors. However, in view of further filings by the Compan…
A Lincolnshire woman failed to disclose all of the property in her ownership after being declared bankrupt, a court has heard.
Susan Thatcher, 54, from Skegness did not inform the relevant authorities about a Spanish holiday home in her possession.
Thatcher, of Barkham Grove, pleaded guilty to owning the property in Fuerteventura and not informing the relevant personnel between March 23 and November 11 2015.
She was handed a four month prison sentence at Boston Magistrates Court which was suspended for two years.
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Additionally, Thatcher was ordered to pay costs totalling £1471.35 and pay a victim surcharge fee of £80.00.
NEW YORK (Reuters) – Puerto Ricos government on Friday called moves by creditors of the islands bankrupt power utility to offer a $1 billion loan a publicity stunt, the latest salvo in a public back-and-forth on how to help the utility recover after Hurricane Maria.
As Puerto Rico struggles with near total destruction of its power distribution grid from last weeks storm, the government released a new point-by-point critique of the offers terms to the utility, while calling the groups arguments in favor of the loan self-serving.
Hurricane Maria knocked out power to the U.S. territorys 3.4 million residents and left the Puerto Rico Electric Power Authority (PREPA), which declared bankruptcy in July, scrambling to complete damage assessment…
The Supreme Court of India (Supreme Court) in Mobilox Innovations Private Limited v Kirusa Software Private Limited (Mobilox v Kirusa) has finally settled the widely debated question of what constitutes existence of a dispute in the context of applications filed by operational creditors for initiation of corporate insolvency resolution process (CIRP) of corporate debtors under the Insolvency and Bankruptcy Code, 2016 (IBC). This path breaking judgment follows close on the heels of another landmark ruling of the Supreme Court in M/s Innoventive Industries Ltd. vs. ICICI Bank & Another, which was rendered in the context of a CIRP application filed by a financial creditor.
A CIRP of a corporate debtor can be initiated by its operational cred…
Nothing to see here move along folks, was the message from the Ryanair public relations machine this week as it pinned an image of 20 smiling new pilots to the top of its Twitter page.
The new recruits all men, by the way were waving their hands in the air or giving the thumbs up sign outside the companys office in the Airside Business Park in Swords. The latest pilots to join Ryanair, beamed the caption.
NEW YORK (Reuters) – Puerto Ricos government on Friday called moves by creditors of the islands bankrupt power utility to offer a $1 billion loan a publicity stunt, the latest salvo in a public back-and-forth on how to help the utility recover after Hurricane Maria.
As Puerto Rico struggles with near total destruction of its power distribution grid from last weeks storm, the government released a new point-by-point critique of the offers terms to the utility, while calling the groups arguments in favor of the loan self-serving.
Hurricane Maria knocked out power to the U.S. territorys 3.4 million residents and left the Puerto Rico Electric Power Authority (PREPA), which declared bankruptcy in July, scrambling to complete damage assessment…
ISLAMABAD: The ministry of textile industry has constituted a committee for the restructuring of Pakistan Central Cotton Committee (PCCC) for enhancing its performance, an official said on Friday.
The restructuring committee comprises four members of the National Assembly, including Chaudhry Asad-ur-Rahman, Chaudhry Iftikhar Nazir, Sheikh Fayyaz-ud-din and Sajid Mehdi.
Ministry of textile industry secretary and two members of All Pakistan Textile Mills Association (Aptma) would be the members of the restructuring committee, the official said. Talking to APP, cotton commissioner Dr Khalid Abdullah said PCCC vice president and cotton commissioner are also notified as members o…
Move aimed at preventing at least 3 lakh disqualified directors of shell companies from entering the insolvency eco-system.
Amid a crackdown on directors of shell companies, the government is considering to further tighten the scrutiny of candidates applying for the licences of insolvency professionals, in a bid to prevent unscrupulous elements from entering the critical insolvency eco-system, a senior official told FE. The move comes amid apprehensions that some of the disqualified directors of shell companies may try to get a backdoor entry into the corporate system by applying for the licences of IPs. As part of its battle against channels of black money following demonetisation, the government has disqualified at least …
While Wall Street vultures circle amid an ongoing humanitarian crisis and try to entice Puerto Rico with “relief” offers in the form of more debt, advocates for economic justice are demanding immediate debt relief and federal stimulus spending to rebuild the island’s devastated infrastructure.
“Puerto Rico needs immediate humanitarian assistance before many more lives are lost thanks to America’s latest climate catastrophe, and reconstruction aid to help them rebuild their infrastructure,” Wenonah Hauter, executive director of Food & Water Watch, wrote for Common Dreams on Friday. She continued:
The hurricane only made a bad situation much, much worse: Puerto Rico has been reeling from austerity measures for years that were put i…
SIX former workers at liquidated Trend Interiors Carpet Court Mackay will end up thousands of dollars out of pocket unless government regulators step in, says the woman tasked with managing the fallout of the failed company.
But the company’s liquidator BRI Ferrier principal Moira Carter is not optimistic the ASIC will give worker welfare priority, meaning they might not get any of the superannuation payments they are owed from years of work at the tile and carpet company before it went into liquidation in March.
Mrs Carter said that the troubled company’s director, Raymond Jack, and business consultant Andrew Johnson have not been cooperative.
Several attempts to contact both men for comment for this story on Friday were unsuccessful.
NEW YORK (Reuters) – Puerto Ricos government on Friday called moves by creditors of the islands bankrupt power utility to offer a $1 billion loan a publicity stunt, the latest salvo in a public back-and-forth on how to help the utility recover after Hurricane Maria.
As Puerto Rico struggles with near total destruction of its power distribution grid from last weeks storm, the government released a new point-by-point critique of the offers terms to the utility, while calling the groups arguments in favor of the loan self-serving.
Hurricane Maria knocked out power to the U.S. territorys 3.4 million residents and left the Puerto Rico Electric Power Authority (PREPA), which declared bankruptcy in July, scrambling to complete damage assessment…
Move aimed at preventing at least 3 lakh disqualified directors of shell companies from entering the insolvency eco-system.