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Builder’s debts to unsecured creditors mount to more than $2m The Press
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A caller to “The Ramsey Show” recently shared a hard lesson learned about gambling and debt with hosts George Kamel and Jade Warshaw. Her decision to skip car payments and try her luck at the casino backfired in a big way, resulting in a repossession and a remaining debt of over $19,000.
“Instead of making my payments, I was thinking I can go to the casino and double it to make payments and things like that,” the caller said. But it didn’t work out. The car was repossessed and later sold for about $3,500, leaving her responsible for the large remaining balance on the loan.
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Adding to the confusion, she began receiving toll road bills tied to the vehicle even after it was sold. “I did reach out…
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Major retail chain supplier files for bankruptcy liquidation TheStreet
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Following this acquisition, Adani Power’s operating capacity has risen to 18,150 MW.
“The acquisition of VIPL is a key milestone in Adani Power’s strategy to unlock value through the turnaround of stressed assets,” Chief Executive Officer SB Khyalia said in a statement.
The company said it is further undertaking expansion of its base load power generation portfolio through a mix of brownfield and greenfield projects.
The Adani Group company is currently constructing six brownfield ultrasupercritical power plants of 1,600 MW each at its existing locations at Singrauli-Mahan in Madhya Pradesh, Raipur, Raigarh, and Korba in Chhattisgarh, and Kawai in Rajasthan, in addition to a 1,600 MW greenfield USCTPP at Mirzapur, Uttar Pradesh.
Besides,…
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Facebook App: Open links in External Browser
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Lenders Reject Jaypees Request To Accept Bid To Acquire Bankrupt Jaiprakash Associates NDTV Profit
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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.
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Bharucha & Partners
This is a vital safeguard, particularly when agencies such as the Enforcement Directorate (ED) begin asset attachment proceedings…