Glaxosmithkline Consumer Nigeria Plc (GLAXOS.ng) 2009 Annual Report

first_imgGlaxosmithkline Consumer Nigeria Plc (GLAXOS.ng) listed on the Nigerian Stock Exchange under the Pharmaceuticals sector has released it’s 2009 annual report.For more information about Glaxosmithkline Consumer Nigeria Plc (GLAXOS.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Glaxosmithkline Consumer Nigeria Plc (GLAXOS.ng) company page on AfricanFinancials.Document: Glaxosmithkline Consumer Nigeria Plc (GLAXOS.ng)  2009 annual report.Company ProfileGlaxosmithkline Consumer Nigeria Plc manufactures and markets a range of consumer healthcare and pharmaceutical products in Nigeria. Its product portfolio includes treatments for asthma, HIV/AIDS, malaria, depression, migraines, diabetes, heart failure, digestive ailments and cancer. Consumer healthcare products include oral healthcare products; wellness products for the management of pain, gastro-intestinal and respiratory conditions; multivitamins; and a range of nutritional healthcare beverages. Glaxosmithkline Consumer Nigeria Plc produces a range of antibacterial products and vaccines to protect against illnesses such as hepatitis A and B, diphtheria, tetanus, whooping cough, typhoid, influenza and cervical cancer. The company was formerly known as Beecham Limited. Its head office is in Lagos, Nigeria. Glaxosmithkline Consumer Nigeria Plc is listed on the Nigerian Stock Exchangelast_img read more

Moving Time?

first_img May 27, 2018 at 12:23 pm June 1, 2018 at 2:38 pm Support conservation and fish with NEW Florida specialty license plate May 27, 2018 at 10:21 am charles towne Yes, OCD is a difficult one. Just be careful with the diagnostics. Symptoms may be related, however, they fall under a larger umbrella of an Alzheimer’s associated dementia. No need to put her in another “box” and label her if not necessary. Sub-types and symptoms of various other ailments often rear their ugly heads during this disease but are not the primary. Regardless, great that you have brought OCD out to the public as so many suffer from this disease. Awareness is crucial for family members and patients for maximum treatment results! Thank you Charles. Reply NH May 27, 2018 at 8:23 am Linda, yes yes yes! Please by all means give her the email address for the APOPKA VOICE so she can go on the site herself! Anything else you need let me know. The more people it helps the merrier! Unka Chuck Ernie Bursey charles towne Reply Please enter your comment! InspirationBy Charles Towne When you live with dementia you become accustomed to the whacky, the weird, and often, the wonderful.Moving time?Where are we moving to?Nowhere.Why is it moving time then?I don’t have a clue other than the fact that Nanny has this irrepressible urge to start packing again.Well, that can’t be all that bad!Oh yeah, you are probably right except for the fact that when people pack they don’t usually stack dishes in garbage cans or pack the glass cookie jar in a plastic waste basket and then pile more glass dishes on top of it.  How about shoving half a dozen cups and saucers into a pillowcase and then stacking them in boxes?As you can imagine, glass dishes don’t last very long in our house.I’d go to paper plates but they don’t hold up very well in the dishwasher.I can’t find the flashlight.   “Honey, where is the flashlight?”“I don’t know.”I search for the flashlight and finally discover it wrapped in a towel along with half a dozen candlesticks.  This candlestick/ flashlight bundle is stuffed in the cookie jar and the cookie jar is wrapped in one of Nanny’s bras and this is all packed very carefully in a wastebasket.   If you see any logic to this please let me know.Where are the DVD’s?Don’t ask me, I don’t have a clue!  I mean, I simply don’t know.I search for the DVD’s and find them stashed in the storage room with the pillows from our bed.“Honey, why are the pillows in the storage room?”“I don’t know I didn’t put them there?”  (WE MUST HAVE A GREMLIN HIDING IN THE HOUSE!)I am about to prepare dinner.  I need to lay out the silverware.  I open the drawer.  No silverware, just one of Nancy’s bedroom slippers along with a couple of her belts and bras.The next morning I can’t find my razor.“Honey where is my razor?”“What?”“Where is my razor?”“I don’t know Charles, what did you do with it!”“It was on the bathroom sink but now it’s gone?”“Did you look in the workshop?”“Why would it be in the workshop?”“I don’t know?”
“Charles?”
“What?”
“Why would you put your razor in the workshop?”
“I didn’t put it in the workshop.”
“Put what in the workshop?”Does Nancy realize that this behavior is a tad off the wall?  I don’t think so.  To be perfectly honest she thinks that it is her dottie old husband that is a bit strange. Perhaps she is right.My Nancy, my sweet wife, my strange wife with the sweet smile, my dear lady that finds it almost impossible to carry on a rational, normal conversation; my Nancy, my helpless lady without a past, my woman-child, my child-woman, my life, my wife of “now”, yes, my wife of today, for there is no yesterday, no tomorrow, only today.Nan is walking again.  The M.S. has gone into remission.  Physically she has made incredible improvement, but I fear at times that she is starting to slip away, back to that dark shadow realm where I cannot follow.Recently, after doing some studying on the subject I discovered evidence that leads me to the conclusion that Nancy’s behavior, some of her little quirks, those nerve-wracking (to me) little bits of idiosyncratic behavior are likely caused by a syndrome called Obsessive Compulsive Disorder, or, O.C.D.None of Nancy’s doctors knowing the behavior patterns she exhibits has ever diagnosed her as having obsessive-compulsive disorder.  Perhaps they just forgot to mention it?The more we understand the better able we are to rationally cope with the everyday challenges of dementia.Understanding that O.C.D. is quite common and that it is not unique to Nan’s and my situation gives me hope and that knowledge has given me the tools to better cope with the malady.  Just putting a handle on the situation and discovering that others are walking the same path and that there are treatments is greatly encouraging.I have chosen to allow Nancy to act out her little faux pas after all what she does is harmless and she is happy.  In other words, due to the fact that Nan presents no danger to herself or others I choose to ignore it.  On the other hand, if your loved one is acting out behavior that could be potentially dangerous to herself or others you must involve a doctor and treat the behavior with some of the available medications.Common signs of Obsessive Compulsive DisorderYour loved one may exhibit one or more of these common symptoms.  If you observe any of them let your doctor know.  There are medications that can lessen the symptoms.A tendency to constantly sort, and organize things.Constant pacing.Obsessively washes hands.Repeats actions, and sentences.Hides and or hordes items or food.Scratching or digging at their own flesh.Often the best way to respond to obsessive-compulsive disorder is simply to ignore it unless it is something that could harm your loved one such as #6 where they are constantly scratching at themselves until they bleed.  As soon as you observe anything that could present a physical danger to themselves or others it would be time to involve your doctor.Nancy has displayed signs of O.C.D. for several years now.  She sits on a chair in the yard picking up one leaf at a time, ad infinitum, and drops them into a bucket.  Or she tears pages out of one magazine after another and cuts out pictures or words that catch her eye.  Or she writes labels for and organizes videos over and over again.  Repetition is the order of the day, and these are all examples of O.C.D.It took me a long time to look upon these behavior patterns as benign, or harmless, but I am succeeding, and praise God, as I said, she is happy, content from moment to moment, day to day.This morning I went out to put the garbage cans next to the road for pick-up.  One of the cans, upon examination, contained some of our clothing.  There were three of Nan’s good blouses, and two pairs of her slacks.  There were also four pairs of my jeans.  When I asked her why my jeans were in the trash she replied, “They are too big for me!”Yeah sure, there are times that I am just a tad frustrated but such is the life of a caregiver.A CAREGIVER’S PRAYERDear God, please help me to be patient in all things.  Help me to realize that it is perhaps me that needs to be healed.  Help me to always yield to your will, to be kind and gracious at all times.  As frustrating as obsessive-compulsive behavior is to me help me to recognize that some of my habits must bring you to tears, and yet you love me and care for me.  Help me to be the epitome of love, to be merciful in all things, and to bring joy into my Darling’s life.  Thank you, Father, in Jesus’ Holy and merciful name I ask it, AmenCharles Towne is first and foremost a Christian. An octogenarian, author, journalist, wildlife photographer, naturalist, caregiver, and survivor, his life has been and continues to be, a never-ending adventure filled with possibilities never imagined. He has adopted the philosophy that to Live fully, laugh uproariously, love passionately, and learn like there is no tomorrow, is a formula for a long and joy-filled life. Free webinar for job seekers on best interview answers, hosted by Goodwill June 11 charles towne So happy to hear that the M.S is in remission and she’s walking again! Praise God! Our prayers are with you and Nan for a continuous improvement and recovery. God bless! Dear NH, it is interesting that doctors are always ready to tie labels to certain symptoms when almost all forms of illness might have something similar but lack the most obvious indicator of a particular disease? Now that is perhaps just a tad convoluted but diagnosis of disease is after all not a precise science. I knew a lady that spent her days cutting out four inch squares of cloth and then sawing them together in four inch tall stacks. The doctors eventually diagnosed her as having Alzheimers with the addition of OCD thrown in for good measure. It is all confusing isn’t it? The one thing I know for sure is that Papa God loves my wife as do I and this sojourn on this earth is after all only temporary. Thanks for the comment and blessings on you and yours. Chaz Reply CSG June 1, 2018 at 3:49 pm Save my name, email, and website in this browser for the next time I comment. Reply Linda Scott Reply May 27, 2018 at 10:04 pm Reply This story hits close to home, as my father-in-law died from early onset Alzheimer’s. At different points he demonstrated some of the same OCD behaviors you describe including the packing. It was such a curious thing and as you have said quite weird and whacky. Another thing he did fairly early on (prior to constant supervision) was compulsive shopping from the internet or the TV. This behavior was completely the opposite of how he was before the disease. Naturally, all his access to money had to be taken away. It is hard to watch someone lose their freedoms one by one as the disease progresses. I appreciate the honesty, humility, and humor you share with us in relation to dealing with Nancy as she has gone through this experience. Thanks for being a good example. Ernie, aint it the truth! Caregiving is about like 40 grit sandpaper moving at about 500 rpm, it will either refine you or wear you down to a tiny nubbin! Chaz Reply center_img Dear Kristin, the only thing we really have to give is ourselves and what we have learned in life. I pray that what you receive from these little vignettes of life lived by me and mine is positive and draws you nearer and ever nearer to the life-Giver, our Lord and Savior Jesus Christ. God bless and keep you, Chaz May 28, 2018 at 8:59 am charles towne You have entered an incorrect email address! Please enter your email address here charles towne Thank you, Lord, that Nancy is able to walk again! I’m sure that she’s much happier with her “sense of freedom”.I have never experienced OCD at home with any family members…only with students I’ve worked with. It takes someone with the patience of Job to deal with it day after day after day. Chuck, you are such a loving, devoted husband and Nancy is blessed to have you in her life. The Bible says we will not have more put on our shoulders than we can bear. We can only do our best, nothing more. He rewards those who are faithful. God bless you, Chuck, with His divine power, grace and love. 12 COMMENTS Unka Chuck, I have a friend whose husband has Alzheimer’s so I asked her if she would like to hear about your experiences with Nancy as I felt they would be an encouragement to her. She said yes. Is it alright if I share this website with her or is there another venue you would prefer?Linda charles towne Kristin May 29, 2018 at 2:06 pm Reply When caring for a loved one with dementia, we have the opportunity to have the rough edges of our characters revealed and perhaps, with the grace of God, rubbed off. May 29, 2018 at 3:23 pm May 27, 2018 at 9:45 am Please enter your name here Reply Reply May 28, 2018 at 5:50 pm Reply Dear reader, I would hope that we all would stand for the weak and the frail. My prayer is that I can always love and cherish my darling and that we can all be there for those that need us. Our Lord has told us that when we assist the weak, when we give water to the thirsty, when we help the helpless, when we love the unlovely, in all these things we are doing it as it were to Him. Chaz Share on Facebook Tweet on Twitter Reply Dear CSG, blessings to you and yours and thank you so much for your words of encouragement. Chaz LEAVE A REPLY Cancel reply TAGSCharles TowneInspiration Previous articleGrill Whisperer: “A great cookout begins at a great supermarket”Next articleHello summer break! Denise Connell RELATED ARTICLESMORE FROM AUTHOR The Anatomy of Fear Don Lindsey May 27, 2018 at 9:33 pmlast_img read more

Notorious Israeli prison profiteer deployed at Standing Rock

first_imgWhat does Israel’s internment of 7,000 Palestinian political prisoners, including 700 “administrative detainees” held without charge or trial, have in common with the Dakota Access pipeline company’s brutal repression of Native land and water defenders at Standing Rock?Aside from the support of the U.S. government and an underlying logic of settler colonialism, each benefits from the involvement of British-Danish conglomerate G4S, the world’s largest security company and its second-biggest private employer.Only three days after private forces contracted by Dakota Access LLC had viciously attacked Indigenous demonstrators with dogs and pepper spray on Sept. 3, G4S confirmed it had deployed “unarmed patrol services” to guard the project. (telesurtv.net)G4S communications director Monica Lewman-Garcia later claimed the company “had no employees present during the incident on Sept. 3,” but refused to identify the locations or roles of its personnel, or to say if they had supported the attackers. (alternet.org)“The BNC was dismayed but not surprised to learn that the multinational security corporation G4S has been contracted to provide security services for the pipeline construction on your land by Energy Transfer Partners,” the Palestinian Boycott, Divestment and Sanctions National Committee wrote in a statement to the Standing Rock Sioux tribe on Sept. 9.“G4S is involved in human rights abuses around the world including in Palestine, where the company provides services to illegal Israeli colonies, to military checkpoints, and to prisons that are infamous for using torture and inhumane treatment against Palestinian prisoners, including children.” (bdsmovement.net)Three of the Palestinians held in these prisons, Malik al-Qadi and brothers Mohammed and Mahmoud al-Balboul, launched hunger strikes on July 16, July 7 and July 4, respectively, to protest their “administrative detention” orders and demand freedom.Israeli courts recently “suspended” their detentions, a ruse used in 2015 to convince another “administrative detainee,” Muhammad Allan, to end his hunger strike before his detention was reinstated as soon as he could leave the hospital.Al-Qadi and the al-Balbouls refuse to end their strikes without agreements for their release.Each is held under guard in Israel’s Wolfson hospital, where Mahmoud reportedly has “severe chest pains,” while al-Qadi has “fallen into a coma.” (maannews.com)On Sept. 16, the Samidoun: Palestinian Prisoner Solidarity Network will dedicate a weekly protest of G4S, held at 4 p.m. each Friday outside the company’s New York office at 19 West 44th St. in Manhattan, to the Standing Rock defenders and Palestinian hunger strikers, with the demand, “G4S out of Standing Rock and Palestine!” (facebook.com)Other actions worldwide in support of each, as well as action alerts and news updates, are posted online at nodaplsolidarity.org and samidoun.net.Catron is a member of Al-Awda New York: The Palestine Right to Return Coalition and an organizer with Samidoun: Palestinian Prisoner Solidarity Network.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

How corporate media pave way for war, then and now

first_imgFor a decade, beginning in 1990, the U.S. and Western European propaganda machines indoctrinated their populations to support a war of aggression against Yugoslavia, which started on March 24, 1999.Yugoslav mother views wreckage of homes after NATO bombing in 1999Now, on the 20th anniversary of that war, it is valuable to review how the various NATO powers carried out the process of war preparation. What makes it especially important today is the fact that similar steps are being taken to prepare the way for an assault on Venezuela — which can still be stopped.Demonstrations will take place over the next two weeks to highlight the importance of those events 20 years ago. On Sunday, March 24, the International Action Center is holding a rally at the U.N. headquarters in New York to commemorate and protest the 20th anniversary of the start of the criminal U.S./NATO 78-day bombing campaign that killed 3,000 people and tore apart Yugoslavia. (iacenter.org)And on Saturday, March 30, the United National Antiwar Coalition will march in Washington, D.C. Although the march had been originally timed to coincide with the beginning of NATO’s 70th anniversary meeting there, current events have driven the anti-war organizers to focus on solidarity with Bolivarian Venezuela, under the slogan “U.S. hands off!” (unacpeace.org)Taking steps to destroy YugoslaviaFrom 1990-99, the NATO powers — with German and U.S. imperialism in the lead — were taking every step to weaken and destroy Yugoslavia. From the start, Berlin aided reactionary separatist forces in each republic of the multinational socialist federation of Yugoslavia. This gave rise to wars in Croatia and Bosnia-Herzegovina, along with the separation of Slovenia and Macedonia. Since German imperialism had the closest contacts with the Croatian and Bosnian reactionaries and the largest economic interests in the region, this initiative put German imperialism in the lead of seizing influence in the Balkans.To regain hegemony over Berlin and the other NATO powers, Washington pushed the conflict toward open war, where the Pentagon’s preeminent place in destructive power would predominate. The U.S. used a battle provoked by the “Kosovo Liberation Army” at the town of Račak in the Kosovo province of Serbia on Jan. 15, 1999, as a pretext. Claiming it was a massacre, the Bill Clinton administration played up the need for “humanitarian intervention.” (Sound familiar?)Clinton stepped up the drive toward war. With support from Germany and France and using bases in Italy, the U.S. began bombing and firing missiles at mainly civilian targets in Serbia on March 24. The bombing lasted for 78 days and killed 3,000 people. Bridges, schools and hospitals were hit, along with the Chinese Embassy in Belgrade and Yugoslav television and radio studios.Yugoslavia civilian structure bombedHeroism in defense of YugoslaviaMany of the residents of Serbia and Montenegro — whether Serbs, Roma, Jews or other Yugoslav peoples — showed their heroism during the 78 days of open war. They walked in open spaces and defiantly defended bridges wearing T-shirts with targets on them. Those in the military were ready to fight and camouflaged their equipment so well that the bombing destroyed few tanks.Parents sent their children to grandparents in the villages, while carrying on their work in the major cities. Under the pressure of the destructive bombing and even more blatant threats of invasion, the Yugoslav government finally conceded and accepted NATO’s terms. Even the accepted terms, however — which included the Kosovo province remaining part of Serbia — were ignored by the victorious NATO military power.  What had been a sovereign, independent and socialist Yugoslavia was turned into six weakened semicolonies of the West and the tiny U.S. military outpost called Kosovo. Today the existence of an “independent” Kosovo is an obvious fraud, as the territory is little more than a massive military base for the U.S. and a mini-homeland for organized crime.Since this criminal war against Yugoslavia, NATO has expanded its intervention against Libya in Africa and Afghanistan, Iraq and Syria in Asia. Its current target is Venezuela in South America — using another “humanitarian” pretext.To add to the crimes of the imperialist powers in the Balkans, they blamed the victims of this aggressive war. The leader of the resistance to the NATO assault, Slobodan Milosevic, Yugoslavia’s president from 1997 to 2000, was kidnapped and put on trial in The Hague. In an act of individual heroism, Milosevic turned the tables and put imperialism on trial. In the end, the international court was unable to prove any crimes against the Yugoslav leader. But he remained in prison, and the case ended with Milosevic’s death behind bars in 2006. Since NATO’s intervention against Yugoslavia, the U.S. has turned the alliance into a type of imperialist police force. No longer confined to Europe, NATO has become a worldwide intervention force at the service of the transnational monopolies that exploit global labor and resources.As the U.S. wages a propaganda and subversive war against Venezuela, anti-war people throughout the world should remember the lessons of the assault on Yugoslavia and prepare for struggle.Catalinotto, a managing editor of Workers World newspaper, co-edited the book, “Hidden Agenda: U.S./NATO Takeover of Yugoslavia,” International Action Center, 2001.FacebookTwitterWhatsAppEmailPrintMoreShare thisFacebookTwitterWhatsAppEmailPrintMoreShare thislast_img read more

Tunisian journalist subjected to judicial onslaught-protest

first_imgNews Under house arrest since his release from prison on 6 June 2002 after 11 years in prison, Zouari had been ordered not to leave the Governorate of Mednine. In fact Ben Guerdane is within the governorate.The two appeal hearings both upheld the earlier sentences, leaving Zouari facing a total prison term of 13 months. The journalist’s lawyers now have ten days to decide whether to take the case to a higher appeal court. to go further TunisiaMiddle East – North Africa TunisiaMiddle East – North Africa Eleven organizations from civil society create the Forum on Information & Democracy, a structural response to information disorder December 26, 2019 Find out more News Help by sharing this information Reporters Without Borders (Reporters Sans Frontières) has vehemently protested at a judicial onslaught against Tunisian journalist Abdallah Zouari, who has been sentenced on appeal to a total prison sentence of 13 months. « One wonders what the Tunisian authorities will come up with next to try to break this journalist, who has already served 11 years in prison », said Robert Ménard, secretary-general of Reporters Without Borders. « The Zine el-Abidine Ben Ali government is continuing its tactic of gagging the press. The regime is happy to organize media events, even to host the world summit on the information society in 2005, entrusting its organization to a former head of special services known for its use of torture » he said, « But at the same time it stamps down on freedom of information ». November 11, 2020 Find out more Zouari, a journalist with the unofficial Islamist newspaper Al Fajr, was sentenced on 18 July to four months in prison for libel. The owner of a cybercafe had lodged a complaint against him over a row that broke out after she refused him access to the Internet. His appeal hearing that was due to be held on 24 September was postponed at the request of his lawyers to 8 October.Zouari had already been sentenced at an earlier hearing on 29 August to nine months in prison for « failing to obey an administrative order » after he was arrested by plain-clothes police officers at Ben Guerdane market.center_img News Tunisia : RSF asks Tunisian president’s office to respect journalists News RSF_en Receive email alerts Forum on Information and Democracy 250 recommendations on how to stop “infodemics” Organisation October 9, 2003 – Updated on January 20, 2016 Tunisian journalist subjected to judicial onslaught-protest Reporters Without Borders denounces the judicial harassment of Abdallah Zouari, sentenced on appeal to a total jail term of 13 months. The Mednine court on 8 October upheld two sentences handed down in the lower court for “libel” and “failing to obey an administrative control order” Follow the news on Tunisia November 12, 2019 Find out morelast_img read more

Section 10A Of IBC- Is It Equitable?

first_imgColumnsSection 10A Of IBC- Is It Equitable? V. Rajeswari3 Nov 2020 9:39 PMShare This – xOn 5th June 2020 , the Ministry of Law and Justice through an Ordinance inserted Section 10A to the Insolvency and Bankruptcy Code, 2016 (“IBC”), suspending the initiation of Corporate Insolvency Resolution Process (CIRP) under Section 7, 9 and 10 of the IBC for a period of six (6) months, w.e.f. 25th March, 2020. Subsequently, repacing the Ordinance, the Parliament on…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginOn 5th June 2020 , the Ministry of Law and Justice through an Ordinance inserted Section 10A to the Insolvency and Bankruptcy Code, 2016 (“IBC”), suspending the initiation of Corporate Insolvency Resolution Process (CIRP) under Section 7, 9 and 10 of the IBC for a period of six (6) months, w.e.f. 25th March, 2020. Subsequently, repacing the Ordinance, the Parliament on 21st September 2020 , passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020. Days before the expiry of the six-month period as per the said Ordinance, the Government issued a fresh Notification No. S.O. 3265(E) dated 24th September 2020, extending the suspension of Sections 7, 9 and 10 of the IBC by a further period of three months.Section 10A of IBC “Notwithstanding anything contained in sections 7,9 and 10, no application for initiation of corporate insolvency resolution process of a corporate debtor shall be filed, for any default arising on or after 25th March 2020 for a period of six months or such further period, not exceeding one year from such date, as may be notified in this behalf: Provided that no application shall ever be filed for initiation of corporate insolvency resolution process of a corporate debtor for the said default occurring during the said period. Explanation – For the removal of doubts, it is hereby clarified that the provisions of this section shall not apply to any default committed under the said sections before 25th March 2020. Much has been said about this insertion to the IBC. Legal scolars have have pointed out the merits and demerits of the suspension of initiation of CIRP and its application post 25th March 2020. The suspension of initiation of CIRP solely in respect of any Corporate Debtor, has created an anomalous situation as the same benefit has not been extended to the personal guarantors of such corporate debtors (CD). Section 128 of the Indian Contract Act, 1872 (ICA), enumerates the principle that the liability of a guarantor is co-extensive with that of the borrower. The guarantor is liable to pay the dues to the creditor in the event of default of payment by the principal borrower. When it comes to enforcement of the creditor’s rights, the borrower and guarantor are treated alike. As per the law as it stands today, when a CD is undergoing the Corporate Insolvency Resolution Process (CIRP), the moratorium under Section 14 of the IBC is applicable only to proceedings against the CD, and not in respect of its guarantors. The Supreme Court of India, in State Bank of India v. V. Ramakrishnan  has held that creditors are at liberty to avail their remedies against guarantors and proceed with action for recovery. In Lalit Mishra and Ors. v. Sharon Bio Medicine Ltd. and Ors.  (Judgment dated 19.12.2018 passed in Company Appeal (AT) (Insolvency) No. 164 of 2018), the National Company Law Appellate Tribunal (NCLAT) held that the Resolution Process under the IBC is not a recovery mechanism for creditors, and the intention of the legislature is not to aid the defaulter promoters, directly or indirectly, by excluding the legal remedies available to the creditors against their personal guarantors. This decision stands affirmed by the Supreme Court vide its Order dated 05.04.2019  passed in the C.A. No. 1603 of 2019, captioned ‘Lalit Mishra and Ors. v. Sharon Bio Medicine Ltd. and Ors., whereby the appeal against the decision of the NCLAT was dismissed. Thus, it can be understood that the liability of a personal guarantor does not get extinguished even on the approval of a Resolution Plan. While accepting the legal position as above, assuming that initiation of CIRP against Corporate Debtors had been suspended in a bid to ensure that companies remain a ‘going concern’ and to mitigate the devastating effects of the COVID-19 pandemic, the question that arises is whether it would then be justifiable to proceed against personal guarantors, who have been equally affected by the pandemic. Treating equals unequallyA ‘guarantor’ under Section 126 of the ICA, is a person who promises to pay the debt to the creditor in the event of default by the borrower. For the purposes of recovery, borrowers and guarantors belong to the same class. Although law has now been suspended action against CDs under a statute for a specific reason, namely the COVID-19 pandemic, which has impacted business, financial markets and the economy all over the world, the question that arises is whether equity demands that the same relief ought to be extended to the guarantors to the Corporate Debtors, who are similarly situated persons in terms of pandemic. This discriminatory treatment of guarantors amounts to violation of Article 14 of the Constitution of India, which warrants equal treatment of equals. The above throw up the following questions – Assuming that a personal guarantor to a CD is referred to the Debt Recovery Tribunal (“DRT”) under Part III of the IBC, and is ordered to clear the liabilities of CD by repaying the debts to the creditor, would the guarantor upon the said repayment acquire subrogation rights against the borrower and consequential rights under Sections 140 and 141 of the ICA? Going forward, if the guarantor acquires subrogation rights, would he then be entitled to lodge a claim as a Financial Creditor in the event of a CIRP being initiated against the borrower on expiry of the CIRP suspension period? Further, if the guarantor also acquires the security interest as stated above, does he also acquire the status of a secured creditor in respect of the CD? While the provisions under Part III of the IBC are under challenge before the Supreme Court, the selective suspension of action against CDs without affording any protection to the guarantors is a matter of concern. Acknowledging the hardships faced by lakhs of borrowers due to the ongoing COVID-19 pandemic, the Supreme Court has extended the relief of classification of loans as NPAs, as well as moratorium for loan repayment, and has also been repeatedly questioning the rationale for charging ‘interest on interest’ during the period of moratorium, the guarantors deserve a similar equitable remedy .. Views are personal.(Author is a Practicing Lawyer at Chennai) Next Storylast_img read more

Black ice affecting some routes in Donegal

first_img News, Sport and Obituaries on Monday May 24th Twitter By News Highland – January 4, 2021 Facebook Arranmore progress and potential flagged as population grows Black ice affecting some routes in Donegal RELATED ARTICLESMORE FROM AUTHOR Twitter Homepage BannerNews Donegal County Council has advised that there reports of black ice on a number of routes across the county this morning.People are being advised to assume no road is ice free and allow extra time for your journey.The following routes have been gritted from 6am.Donegal gritting route index as follows:06: Inishowen West04: Inishowen South01: National Primary North02: National Primary Central03: National Primary South07: Milford South08: Milford North09: Cill Ulta East10: Cill Ulta West11: Na Rosa12: Binswilly13: Stranorlar North14: Stranorlar East15: Stranorlar West16: Donegal West17: Donegal North18: Donegal South19: Donegal National Secondary05: Inishowen EastBT: Buncrana TownLT: Letterkenny Town WhatsApp Google+center_img Important message for people attending LUH’s INR clinic WhatsApp Previous articleGovernment urged to announce plans for schools to reopenNext articleMichael Duffy commits to Dundalk for next season News Highland Pinterest Pinterest Facebook Nine til Noon Show – Listen back to Monday’s Programme Loganair’s new Derry – Liverpool air service takes off from CODA Google+ Community Enhancement Programme open for applicationslast_img read more

Veterans celebrate Christmas ‘at home’ in Troy

first_img Email the author The need is sometimes a place to stay overnight when a situation arises. Sometimes it’s a ride to a doctor’s appointment but whatever the need, it’s provided for the men who answered the call to duty.And, when it’s Christmastime, Scott said the staff of the Veterans Home does its best to make the season a happy one for the veterans.“Some of the veterans are forgotten men,” he said. “Some have a few visitors and some get a few packages but some of them are just forgotten. But, sometimes people or organizations will call and ask is there anything that we can do for your guys and they’ll bring by baskets or something.” Williams has been a resident of the Troy Veterans Home for five years, so has his friend James Bickerstaff. Both served in the air force and both came to the home from “troubled” situations. They have found friendship and a sense of belonging at the home.“I like it here and it keeps my mind busy,” Williams said. “I went home for Thanksgiving but I like being here at Christmas, so I stayed.”Bickerstaff said Christmas is quite different at the home from the way it was at “home” when they had family clustered around them.“But it’s still Christmas,” he said. “We eat dinner together and sit around and talk about how Christmas was when we were at home.”Williams remember one of his most treasured gifts was a typewriter that he received when he was 13 years old. For Bickerstaff, it was a B-B gun when he was around 10 years old.Although the talk is often of memories of childhood, Williams said the men always get around to the real reason for the season.“Christmas is about the Christ Child that was born on that day,” he said. “The Christ Child that came into the world to save us from our sins.”No matter where or how Christmas is celebrated, at home with family or in a “home” with those who share a different kinship, it all comes down to the real reason and “that’s Jesus Christ, the savior of the world,” the veteran friends said. Around the WebMd: Do This Immediately if You Have Acid Reflux (Watch Now)Healthy LifestyleIf You Have Ringing Ears Do This Immediately (Ends Tinnitus)Healthier LivingHave an Enlarged Prostate? Urologist Reveals: Do This Immediately (Watch)Healthier LivingWomen Only: Stretch This Muscle to Stop Bladder Leakage (Watch)Healthier LivingRemoving Moles & Skin Tags Has Never Been This EasyEssential HealthRemember Them? I’m Sure Their New Net Worth Will Leave You SpeechlessbradofoThe content you see here is paid for by the advertiser or content provider whose link you click on, and is recommended to you by Revcontent. As the leading platform for native advertising and content recommendation, Revcontent uses interest based targeting to select content that we think will be of particular interest to you. We encourage you to view your opt out options in Revcontent’s Privacy PolicyWant your content to appear on sites like this?Increase Your Engagement Now!Want to report this publisher’s content as misinformation?Submit a ReportGot it, thanks!Remove Content Link?Please choose a reason below:Fake NewsMisleadingNot InterestedOffensiveRepetitiveSubmitCancel Scott said the one thing that he makes sure the veterans have is a traditional Christmas dinner.“We want them to have that,” he said. “We’ll have a tree and the dinner but, for the most part, that’s it. They all enjoy the big dinner and they really like getting the baskets. That’s about all the Christmas they have now.”But Scott was not counting on Santa Claus but the veterans know that he’ll come.“Santa Claus always comes,” said Daniel James Williams, with a smile. “He brings us things like razors, saving cream and fruit. That’s enough for a good Christmas. We’re proud of whatever we get.” Veterans celebrate Christmas ‘at home’ in Troy By Jaine Treadwell Remember America’s heroes on Memorial Day Skip Sponsored Content Latest Stories Maybe they are the forgotten men. Maybe not. But sometimes it seems as though they are — the men in the Veterans Home here in Troy.The home is actually home to 17 men who have served their country and now look to their county to help supply their needs.“We have 17 men who are permanent residents of the Veterans Home in Troy, said Clarence Scott, director. “ Right now, we serve 22 men in all. Some of them are drop-ins who come when their families need to be away for a few hours or a day or two. Then we have a couple of veterans who need someone to go to their houses and stay with them when their families need to be away. We provide different services. We provide what these veterans need.” You Might Like City plan draft still not ready After a public hearing over the city of Troy’s draft for a new comprehensive plan in October, officials are still… read more Published 8:46 pm Monday, December 22, 2008 Plans underway for historic Pike County celebration Troy falls to No. 13 Clemson Penny Hoarder Issues “Urgent” Alert: 6 Companies Are… Pike County Sheriff’s Office offering community child ID kits By The Penny Hoarder Print Article Book Nook to reopenlast_img read more

Birds in Minnesota ‘literally get drunk’ and dive-bomb cars and homes

first_imgiStock/Thinkstock(GILBERT, Minn) — Birds in northern Minnesota are swarming and dive-bombing cars and homes.The behavior might echo Alfred Hitchock’s “The Birds,” but there’s a key difference: “They literally get drunk,” Chelsea Trucano, a patrol officer with the Gilbert Police Department, told ABC News’ “Start Here” podcast.After a series of bird crashes, including one bird that broke through the window of someone’s house, local experts explained to police that an early frost was causing the berries in the area to ferment in the heat during the day.Warm fall temperatures have also thrown off migration patterns, according to Trucano: “There’s more birds in the area thus we’re seeing it more frequently that the birds are getting intoxicated by these berries.”She’s seen the birds in action while on patrol.“They’ll be flying around and then kind of bump into the window, get stunned, go onto the ground and they kind of have that dazed look,” she told “Start Here.”There are no field sobriety tests for birds — “We are going to have to develop that,” Trucano said — but she recommended building a “detox box” for the immobilized, intoxicated birds.“You take a cardboard box, cut holes in it, and then put the bird in there for a little while,” she said. “Within a couple of hours, it will take a little nap and sober up and be good to go.”This story is featured in Friday’s edition of the ABC News “Start Here” podcast. Copyright © 2018, ABC Radio. All rights reserved.last_img read more

Tax changes will drive 46,000 properties out of private rented sector, says NLA

first_imgHome » News » Housing Market » Tax changes will drive 46,000 properties out of private rented sector, says NLA previous nextHousing MarketTax changes will drive 46,000 properties out of private rented sector, says NLAResearch commissioned from Capital Economics claims 20% of landlords are about to shrink their portfolio size as reduced tax reliefs and extra Stamp Duty undermine landlord confidence.Nigel Lewis11th January 201801,037 Views The number of private rented sector landlords intending to reduce the size of their portfolio is at its highest for ten years, it has been claimed, with 46,000 properties due to be taken out of the rental market.The National Landlords Association (NLA) says 20% of its members plan to shrink the number of properties, largely because the recent tax changes for landlords and the looming tenants’ fees ban are “undermining the viability of many landlords’ businesses”.Research firm Capital Economics were commissioned by the NLA to look into the recent tax changes, which reveal that landlords are set to lose £400m from the changes, which come into full effect in 2020.The research also reveals that ‘moderate earner’ landlords will soon pay “significantly higher taxes” than those who earn comparable incomes through other means.Private rented sectorThe NLA’s CEO Richard Lambert (pictured, left) says the government’s recent tax assault on private landlords is clearly taking its toll and that “the Government needs to look at the impact these policies will have on the PRS”.Landlords have recently had several tax allowances rolled back including an automatic wear and tear allowance and tax relief on mortgage interest payments, and an extra Stamp Duty of 3% levied on buy-to-let property purchases.“More and more people are relying on this sector for a home, so it is vital that landlords not only provide a high standard of accommodation, but are incentivised to do so by the prospects of a reasonable return on investment,” says Richard.“It is our view that these policies are undermining the viability of many landlords’ businesses and removing the incentives to invest in residential property for business purposes.”To help landlords, the NLA has produced four videos to explain the tax and other changes in the market.Simon Heawood, CEO and Founder of property investment website Bricklane.com, says: ““A perfect storm is brewing for landlords looking to property simply as a financial asset.“Policy makers across the political spectrum are acknowledging that home ownership is valuable because it affords permanence and security, and not just for the financial returns which placated constituents of yesteryear.” NLA Richard Lambert National Landlords Association landlords stamp duty January 11, 2018Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles Letting agent fined £11,500 over unlicenced rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021last_img read more