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Balancing resolution efficiency and criminal accountability, section 32A of the Insolvency and Bankruptcy Code, 2016 (IBC), shields the assets of corporate debtors from being attached by prosecuting authorities. Such protection depends on two conditions. These conditions are that on approval of a resolution plan by the National Company Law Tribunal (NCLT) there has been a change of management and the incoming management has neither abetted nor conspired in the alleged offence before the corporate insolvency resolution process (resolution process) started.
Alton worked in corporate insolvency in Australia for seven years prior to moving to Singapore in 2014, where he worked on several of Singapore’s high-profile corporate insolvency and restructuring engagements. Notable assignments Alton has worked on include the receivership of Singapore Flyer Pte Ltd, liquidation of the California Fitness Clubs in Singapore, and restructuring of Hyflux Ltd, a Singapore-listed water and energy conglomerate with over USD 2.24 billion debt.
Alton joined Kroll in 2022, where he has worked on the receivership of a Singapore-headquartered global logistics group with operations throughout Southeast Asia, China, the U.S., Australia and New Zealand and over SGD 400 millon debt. Alton has also worked on the…
Lodha Developers Ltd. has been directed to deposit Rs 520.80 crore as security in relation to an ongoing case in the Supreme Court against V Hotels Ltd., which the company acquired last year through an insolvency process.
In a regulatory filing on Wednesday, Lodha Developers informed that this matter is related to proceedings initiated by the Enforcement Directorate against the erstwhile promoter of V Hotels. This was in relation to a transaction of Rs 520.80 crore, allegedly routed through VHL before the start of the insolvency process.
Lodha expects that the matter will be heard expeditiously in the apex court and the deposit will be released.
In April last year, Lodha Developers announced the takeover of VHL through the Corporate…
07/07/2025, Balby, Doncaster // PRODIGY: Feature Story //
Nexus Corporate Solutions Limited continues to be a trusted partner for UK businesses facing financial difficulties. Based in Doncaster, the company offers professional insolvency advice and tailored solutions to help directors and stakeholders navigate periods of corporate distress.
One of the core services of Nexus Corporate Solutions Limited is company administration, a strategic solution for restructuring insolvent businesses. Acting as the appointed administrator, Nexus guides clients through the entire process, helping safeguard the business, protect its assets, and lay the foundation for a successful recovery.
Bruno Mars recently addressed the long-standing rumor regarding his alleged $50 million gambling debt in a playful manner using an Instagram post meant to celebrate his fresh Spotify success.
“KEEP STREAMING. I’ll Be Out of Debt in No Time”
The 39-year-old Grammy-winning artist shared a post highlighting his achievement as the first artist to reach 150 million monthly listeners on the platform.
Accompanied by a dancing emoji, Mars wrote, “KEEP STREAMING. I’ll be out of debt in no time,” humorously referencing the ongoing speculation surrounding his finances.
This post came shortly before Mars’ residency extension with MGM Resorts.
The story of a woman who was addicted to gambling and abandoned her husband and children and eventually even staged a “North Korean show” was revealed.
In the Channel A entertainment program “Detectives’ Trade Secrets,” which aired on the 7th, shocking stories were revealed, ranging from the all-time perpetrators of inter-floor noise to the stories of an elderly mother who was left with dementia.
In “Detective 24:00”, the condition of the “Hongdae Club-level” inter-floor noise perpetrator and his elderly mother, who have been terrorizing apartment residents for three years, was reported. Seagull detectives first tried to talk directly to…
Sports betting has exploded in popularity since it was legalized in 2018—especially among young men, who studies say are spending increasing amounts of time and money gambling.
Several academic studies suggest a range of negative financial consequences from the introduction of online sports betting, including increased bankruptcies, lowered credit scores, and increased debt collections.
Sports betting does generate substantial tax revenue. Advocates for the industry say it shouldn’t be singled out for effects that other forms of recreation have also been shown to have.
Sports betting has grown into a multibillion-dollar industry. It’s also become a drag on many Americans, especially young men, according to recent…
A former Midland employee is in serious trouble after allegedly stealing over $680,000 from his workplace to cover gambling debts.
$683,000 in Unauthorized Transfers Revealed
J.M.B., 48, has been arrested and charged with a first-degree felony for theft over $300,000. In Texas, that’s as serious as it gets. If convicted, he could be looking at anywhere from five to 99 years or life in prison.
According to the Midland County Sheriff’s Office, B. worked as a controller at Slater Controls Inc., handling the company’s finances and accounting.
In June, B. was terminated from his role after internal suspicions led to a closer look at the company’s accounts.
