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.
The recent revelations of sexual harassment in tech and venture capital are shocking. Theres rightly been a lot of discussion in our industry about how to react to these stories and how to deal with the perpetrators.
However, theres also a broader issue that seems to have received less attention the fact that many of these situations are the result of years of chronic under-investment in people and culture both in startups and in VC funds.
I call this under-investment people debt. This is very similar to technical debt, which is a concept that founders and VCs are familiar with. And like technical debt, this is something that founders need to pay attention to as they build their startups.
The interim resolution professional appointed to complete the corporate insolvency resolution process of Amtek Auto, on Wednesday wrote to the exchanges to keep the companys shares listed in order to keep the company as a going concern.
NCLTs move
The Corporate Insolvency Resolution Process (CIRP) had been initiated against Amtek Auto by the National Company Law Tribunal in July.
Dinkar Venkatasubramanian, who was appointed the interim resolution professional, in a letter said the company has been operating at a very low capacity for the last few months and it needs working capital immediately.
In terms of mandate under Section 20 of the IBC, I am required…
The Chandigarh bench of NCLT admitted Corporation Banks insolvency proceeding against Amtek Auto on 24 July and subsequently appointed Dinkar Venkatasubramanian as the insolvency resolution professional (IRP).
Mumbai: The insolvency professional in charge of Amtek Auto Ltd has sought the cooperation of all creditors to keep the company as a going concern for a time-bound resolution and in order to maximise the value of the company.
The Chandigarh bench of National Company Law Tribunal (NCLT) admitted Corporation Banks insolvency proceeding against Amtek Auto on 24 July and subsequently appointed Dinkar Venkatasubramanian as the insolvency resolution professional (IRP).
According to the Insolvency & Bankruptcy Code (IBC), 2016, upon admiss…
Etihads grand plan for global domination looks to be in deep trouble.
In July, the Abu Dhabi, United Arab Emirates-based aviation giant announced a staggering $US1.87 billion loss for 2016. This, after posting a $US103 million profit the previous year.
Etihad blames $US808 million of losses on financial exposure to partner airlines such as Air Berlin and Alitalia.
Now, things have gone from bad to worse.
On Tuesday, Air Berlin entered into administration, declaring itself insolvent and initiating a major restructuring. Air Berlins financial implosion happened just three months after Alitalias bankruptcy in May.
Together, Etihads total financial exposure to the two troubled European carriers edges north of $US…
A SHAMBOLIC care company has gone into liquidation with debts of more than £700,000 after failures that left vulnerable adults at risk of abuse.
A large-scale multi-agency enquiry is now underway and police are investigating allegations into Alo Care Ltd which runs Ado Lodge in Lymington, Alo Community Services from Highcliffe and Bellus Lodge in Somerford Avenue, Christchurch.
Forty four staff have been made redundant while 13 employees were transferred to the company iDirect which has taken over the community care clients.
The statement of administrators proposals says the company had altered incidents involving residents that should have been submitted to authorities.
The Uttar Pradesh government gave hope on Wednesday to hundreds of distressed homebuyers of the Jaypee Infratech Group, promising to help the people get possession of their houses on time.
The homebuyers, most of whom have invested their lifes savings, have sought the governments intervention after the National Company Law Tribunal admitted an IDBI Banks insolvency plea against the real estate company last week.
We are on the buyers side and will do everything to see that they get possession of their flats on time as promised to them by the developer, chief secretary Rajive Kumar said.
He said the company had submitted to local authorities a phased time-bound plan for handing the flats.
If the company honestly follows the plan, the governmen…
The finance minister said there is a provision for running a company under insolvency proceedings.
New Delhi: Finance Minister Arun Jaitley on Wednesday said the government has full sympathy with the agitating Noida homebuyers and they can seek relief under the insolvency law.
Hundreds of home buyers had been left in the lurch after the Allahabad bench of the National Company Law Tribunal (NCLT) last week admitted IDBI’s plea for initiating insolvency proceedings against Jaypee Infratech for defaulting on a Rs 526-crore loan.
The NCLT has also appointed Anuj Jain the interim resolution professional (IRP) to carry out the proceedings under the Insolvency and Bankruptcy Code.
Observing that all those who have paid money to developers should g…
Prestige Group , one of the largest listed real estate companies in the country, is gearing up for greater things given that the uncertainty caused by the Real Estate Regulatory Act (RERA) and the Goods and Services Tax (GST) is behind us. The company recently concluded a corporate restructuring to take the business to the next level. In an interview with ET, Irfan Razack , CMD of the group, talks about the reasons behind the restructuring, fund-raising plans and the impending revival of the Indian real estate market. Excerpts…
What is the status of corporate restructuring at Prestige Group? The restructuring got completed this March 31.Now we have got separate verticals office, retail, hospitality and residential. Prestige E…
Photo: PTI Jaitley said the government’s sympathy are with aggrieved flat buyers
Observing that flat buyers who have paid money to developers should get their flats, Finance Minister Arun Jailtey said “our full sympathy” is with the aggrieved home buyers. The minister’s comments came after the initiation of insolvency proceedings against Jaypee Infrastech threw its buyers into a lurch.
The Finance minister said there is a provision for running a company under insolvency proceedings.
“Those who are aggrieved can get remedy under this law (the Insolvency and Bankruptcy Code). If there is any such move, the government’s full sympathy is with those who have paid money and have rights on the flats,” the minister said in reply to …
New Delhi: Finance Minister Arun Jaitley on Wednesday said the government has full sympathy with the agitating Noida homebuyers and they can seek relief under the insolvency law.
Hundreds of home buyers had been left in the lurch after the Allahabad bench of the National Company Law Tribunal (NCLT) last week admitted IDBI’s plea for initiating insolvency proceedings against Jaypee Infratech for defaulting on a Rs 526-crore loan.
The NCLT has also appointed Anuj Jain the interim resolution professional (IRP) to carry out the proceedings under the Insolvency and Bankruptcy Code.
File image of Finance Minister Arun Jaitley. AFP
Observing that all those who have paid money to developers should get their flats, Jaitley said “our full sympathy” …
‘They could not recover any of my money’: workers fail to get super
Canberra: Photograph of Geoff Raby, former Australian Ambassador to China, Senior Adviser to Kreab Gavin Anderson, and Michael Morgan, Convenor of Kreab Gavin Anderson????s Asia Business Group in Canberra today, Wednesday 8 December 2011. Photograph by Penny Bradfield. Photo: Penny Bradfield
Nicole Miller is owed more than $6000 in superannuation from her former employer, PR agency Kreab Gavin Anderson.
Miller worked as an office manager at what was one of Australia’s top communications operations until it went into voluntary administration on December 23 and now, like millions of other Australians who get underpaid their superannuation ever…
A showdown with angry and unpaid Eastern Goldfields creditors was speedily averted at last week’s Diggers & Dealers conference, but not all creditors were headed off.
A number of suppliers had threatened to protest their lack of payment at the mining conference after hearing that executive chairman Michael Fotios planned to make a presentation. They were paid off, and the protest didn’t eventuate. Fotios told journalists outside the presentation that the company had “communicated very effectively with all of our suppliers in the last few days, since the news came out that people are planning [to protest] … We’ve got a very good commercial and supply team working on this for the past few days as far as I know, its been t…
