Bankruptcy

Vedanta Ltd (VEDL.N) Key Developments

<!– Vedanta Says NCLAT Approves Eligibility Under Insolvency & Bankruptcy Code –> <!– –> 4:49am EDT  Aug 10 (Reuters) – Vedanta Ltd ::SAYS NATIONAL COMPANY LAW APPELLATE TRIBUNAL (‘NCLAT’) APPROVES ELIGIBILITY OF COMPANY UNDER INSOLVENCY AND BANKRUPTCY CODE.NCLAT RULED THAT VEDANTA LIMITED WAS ELIGIBLE TO BID FOR ELECTROSTEEL STEELS LIMITED.SAYS NCLAT DECLINED TO INTERFERE WITH APPROVAL OF RESOLUTION PLAN BY NATIONAL COMPANY LAW TRIBUNAL, KOLKATA.  Source link

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Convicted con artist still has business dreams after being bankrupt for 17 years

Last updated 17:51, August 10 2018 LAWRENCE SMITH/STUFF Only four people currently have been in bankruptcy longer than Mike Lafferty. (File photo) A conman who has been bankrupt since 2001, once changed his name by deed poll to Foxconn Group plc and got a passport in that name. A recent High Court decision said the con artist formerly known as Michael Knight, and Michael Helsby-Knight, has moved on from Foxconn and has changed his name again to Mike Lafferty. His Foxconn…

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Reagor-Dykes bankruptcy filing sends ripple effects through Lame

LAMESA, Texas - The bankruptcy proceedings of the Reagor-Dykes Auto Group are affecting considerably more than just the employees and the executives. It is sending economic tremors through each community the dealerships call home.  When the Walmart closed in Lamesa two years ago the outlook was bleak. “We were scared to death when Walmart closed cause we just didn’t know how it would affect us,” said Scott Leonard, President of the Lamesa Economic Development Corporation.  Little did he know, the town…

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Children’s Learning Adventure files for bankruptcy

DEERFIELD TOWNSHIP, Ohio – A half built mega-daycare in Deerfield Township will not be finished. Financial problems at Children’s Learning Adventure Childcare Centers sunk the proposed 33,000 square foot project. “It is unfortunate that we were not able to get to the point where the Deerfield Township project will move forward,” said Daniel Peterson V.P. of Development at Children’s Learning Adventure Childcare Centers. Last fall Peterson told WCPO that construction would resume in the Spring of 2018 but that never happened. “We are…

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The not-so-golden years: The bankruptcy rate among Americans age 65 and older has TRIPLED since 1991

The bankruptcy rate among Americans age 65 and older has tripled since 1991, signalling the disappearance of social safety nets and an unsustainable rise in the cost of living, according to a new study. The reasons behind the surge are complicated, with higher medical costs, inability to work, diminishing social security payments and the end of the private pension system in America all contributing to the problem, said Robert Lawless, one of the authors of the study from Consumer Bankruptcy…

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How this company went from appearing on show to bankruptcy

David Glickman, owner of The Vermont Butcher Block & Board Company in Williston, on Monday, July 24, 2017.(Photo: GLENN RUSSELL/FREE PRESS) The tie-dye suit definitely gets your attention. David Glickman donned the get-up for his appearance May 3, 2013, on Season 4 of ABC’s “Shark Tank.” The suit, Glickman told the investors gathered to hear his pitch, was a symbol of freedom, a talisman signifying his escape from the “rat race” of New York City to bucolic Vermont, where he was pursuing…

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Katie Price hilariously upstaged on her latest bikini shoot – as she battles to save herself from bankruptcy

Katie Price has revved up her campaign of loved-up bikini snaps, just days after she was saved from bankruptcy. The Pricey was given just 12 weeks to come up with a viable plan to sort out her ailing finances after spiralling into debt. And just days after alarming Hove beachgoers with her topless antics, the 40-year-old mum released yet more intimate snaps from her photoshoot heavy Thailand getaway. For the latest snaps, the ex glamour model squeezed her ample curves…

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How effective is the bankruptcy code?

Experts say that under the liquidation process, financial and operational creditors are less likely to recover the full-value of their dues, while employees may not get their full salaries. Illustration: Dominic Xavier/Rediff.com In the past two years since the Insolvency and Bankruptcy Code came into being, 701 companies have been admitted under the corporate insolvency resolution process and around 87 firms are heading for liquidation.   Of the 701 companies admitted under the insolvency proceedings, only 22 resolution plans have…

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Tops Markets moves through bankruptcy, putting employee pension plans on the line – News – Wayne Post

If the matter goes to court, it could be dismissed by a judge. Tops Markets continues to move through bankruptcy, putting the future of pension plans on the line for employees. Even though the company is struggling to stay in business, some of its key bosses are getting millions in bonuses. News10NBC reported on the plan earlier this year and now a bankruptcy judge has approved it. More than 100 higher-ups are going to split $3 million if they stay…

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Prepare now, avoid bankruptcy later

By Steven Merrell Financial Planning If you are retired, preparing to retire or one day hope to retire, I encourage you to read an article in Monday’s edition of the New York Times. The article is headlined: Too Little, Too Late: Bankruptcy Booms Among Older Americans. The article is based on a new report by a group called the Consumer Bankruptcy Project. I found the newspaper article so interesting, I tracked down a copy of the report itself. The Consumer…

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How old is Katie Price? Veteran topless model faces mounting debts and bankruptcy as she tries to sell £2million house

Katie Price is on the brink of her third divorce, suffering from a botched facelift and in a raft of financial woes. But the former glamour model still has plenty of reasons to flash those pearly veneers – with a new toyboy on her arm and five kids in tow. It’s fair to say the Pricey has had her fair share of ups and downs over the years. So let’s take stock of her journey from topless model to reality…

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Union: Veneto soon bankrupt – Curaçao Chronicle

Union: Veneto soon bankrupt – Curaçao Chronicle CLOSE http://connect.facebook.net/en_US/all.js#xfbml=1(function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(d.getElementById(id)){return}js=d.createElement(s);js.id=id;js.src=”http://connect.facebook.net/en_US/all.js”;fjs.parentNode.insertBefore(js,fjs)}(document,”script”,”facebook-jssdk”)); Source link

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Fort Worth Working To Fix Pension Fund Before Bankruptcy « CBS Dallas / Fort Worth

FORT WORTH (CBSDFW.COM) – Fort Worth is facing some tough choices as it tries to keep its promises to city workers while fixing a pension fund that could go bankrupt. Raising taxes is an option. An army of firefighters dressed in red and police officers dressed in black packed into Fort Worth City Hall. Even though the city council did not take action Tuesday night, first responders were at the council chambers, lobbying to protect their retirement benefits. “I would…

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Has the Bankruptcy Act, 1997 lived up to its expectation?

In ancient Roman society, bankrupt/insolvent persons were considered as criminals and with sovereign assent they were cut into pieces and threw away in the sea, their wives and children used to be sold as slaves. The creditors used to rob and vandalise the properties of the debtor to realise their claims. As time went on, such attitude of the earlier societies started changing and by 18th Century, it was considered that to become a bankrupt/insolvent should not be considered as…

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