The Birmingham City Council on Tuesday filed a Section 114 notice to halt all spending except on essential services - which will not cover statutory services.
Silicon Valley Bank collapse: Silicon Valley Bank was badly affected by the Federal Reserve's aggressive plan to raise interest rates to combat inflation along with the decline in technology stocks over the past year.
The statement from Pakistan's Defence Minister has come when Pakistan's weekly inflation is touching 39 per cent.
Twitter CEO Elon Musk admitted that he had to save the micro-blogging site from bankruptcy and is seeking public support to keep the company running.
Using the accounting term "going concern" as a reference point for the audience, Zaidi said that he believes the country, at the moment, has gone bankrupt, the report said.
Liquidation of a company under the Insolvency and Bankruptcy Code (IBC) is some times better than a resolution as it throws opportunity for alternative use of its assets and add value to the country, said NCLAT Technical Member Balvinder Singh.
The issue saw a keen fight among banks and separately between the financial institutions and Essar Steel's operational creditors who alleged that ArcelorMittal's winning bid did not meet their dues. ArcelorMittal already won the bid for Essar Steel, having got the NCLT approval for its Rs 42,000 crore bid.
In many ways, Rajendra Singh Sethia -- the world's biggest bankrupt in the 1980s, long before the insolvency and bankruptcy code emerged in India, or the US saw its share of Chapter 11 bankruptcies -- represents the archetype of a Greek tragic hero. The Nigeria and Sudan experience meant that the wheel of fortune had taken a dive, a death spiral which plunged him to depths of despair.
Will bankrupt Pakistan become the economic slave of China ? Watch our special show
In signs that setting up businesses is no cake walk for aspiring entrepreneurs in China, the world’s second largest economy, a recent report has claimed that about 110 Japanese firms went bankrupt in China last
London: TV actor Ryan Thomas, who reportedly earns approximately 90,000 pounds per annum, has been declared bankrupt, according to express.co.uk.The 29-year-old filed for bankruptcy last week after spending a fortune on parties and failing to
London, Mar 20: Former IPL commissioner Lalit Modi has been declared bankrupt in a London court over unpaid bills of 65,000 pounds (Rs 53 lakh approx) owed to a private security firm. According to a
Shantipur/Salar/ Nalhati, Apr 20: Congress President Sonia Gandhi today took on the Left Front government alleging that it remained in power for 34 years banking on its sole claim that it was the messiah of
Kolkata, Mar 31: West Bengal Chief Minister Buddhadeb Bhattacharjee today discounted Opposition claims that his government was economically bankrupt and said that the situation had never been so under the Left Front regime. “It is
New Delhi, Feb 24: On the eve the Rail Budget, the CPI(M) today took a jibe at Railway Minister Mamata Banerjee for "achieving the impossible task of making Railways bankrupt" and spending more on advertisements
Mexico City, Nov 27: Ten stewardesses with troubled Mexicana airlines, which filed for bankruptcy in August and suspended operations, launched a sultry aviation-themed calendar on Thursday in a bid to call attention to their own
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