first_imgTotal Nigeria PLC (TOTAL.ng) listed on the Nigerian Stock Exchange under the Energy sector has released it’s 2019 interim results for the first quarter.For more information about Total Nigeria PLC (TOTAL.ng) reports, abridged reports, interim earnings results and earnings presentations, visit the Total Nigeria PLC (TOTAL.ng) company page on AfricanFinancials.Document: Total Nigeria PLC (TOTAL.ng)  2019 interim results for the first quarter.Company ProfileTotal Nigeria Plc is a marketing and services subsidiary of Total which is a multinational integrated oil and gas company and one of the seven major oil companies in the world. Total operates in 130 countries in the world including Nigeria where it supplies fuel for petrol engines, diesel engines and kerosene. Total’s worldwide business interests cover the entire oil and gas chain from exploration of crude oil and natural gas to the refining, production and trading of petroleum products. Total is also a large-scale manufacturer of chemicals and a major player in low-carbon energies. Total Nigeria Plc has been a leader in the downstream sector of the Nigerian oil and gas industry for over 50 years. The first Total filling station was commissioned in Lagos in 1956. Today, the company operates an extensive distribution network of some 500 service stations, 19 customer service stations, numerous industrial outlets, 5 fuel depots, distribution plants and warehouses located in the Western, Northern and Eastern territories of Nigeria. Its head office is in Lagos, Nigeria. Total Nigeria Plc is listed on the Nigerian Stock Exchangelast_img read more

first_imgCompagnie Immobiliere Limitee (CIMO.mu) listed on the Stock Exchange of Mauritius under the Financial sector has released it’s 2018 interim results for the third quarter.For more information about Compagnie Immobiliere Limitee (CIMO.mu) reports, abridged reports, interim earnings results and earnings presentations, visit the Compagnie Immobiliere Limitee (CIMO.mu) company page on AfricanFinancials.Document: Compagnie Immobiliere Limitee (CIMO.mu)  2018 interim results for the third quarter.Company ProfileCompagnie Immobiliere Limitee is based in Port Louis, Mauritius and deals in the renting out of commercial and office space in Mauritius. The company owns the Arcades Currimjee located in the Curepipe. Compagnie Immobiliere Limitee is listed on the Stock Exchange of Mauritius’ Development Enterprise Market.last_img read more

first_img RETOÑOS HOUSE / ESEcolectivo Arquitectos RETOÑOS HOUSE / ESEcolectivo ArquitectosSave this projectSaveRETOÑOS HOUSE / ESEcolectivo Arquitectos Manufacturers: Hormipisos, Deyesos, Edimca y Acymco, Lámina asfálticaAuthor Architectes:José de la Torre, Belén Argudo, Pablo Silva y Santiago GrandaConstructor:Erika MuñozStructural Analysis:Patricio CevallosCity:QuitoCountry:EcuadorMore SpecsLess SpecsSave this picture!© Lorena DarqueaRecommended ProductsEnclosures / Double Skin FacadesFranken-SchotterFacade System –  LINEAWindowsAir-LuxSliding Window – CurvedWindowsLibartVertical Retracting Doors & WindowsDoorsStudcoAccess Panels – AccessDorText description provided by the architects. The Retoños house belongs to a large extended family made up of several smaller families. The clients, Alvaro and María, wanted a house in which to bring together their 16 family members, including children and grandchildren. As a close-knit family, they get together very often. Until now, this took place in a small apartment in Quito, so they were looking for a quieter place far from the noise and drab environment of the city.Save this picture!© Lorena DarqueaThe piece of land is located in the suburbs, right across from one of the city’s metropolitan parks. For the first time, they are now able to enjoy their own garden within a large enough space in which to come together. The project had two purposes in mind: to take advantage of the natural surroundings, and to build a place large enough in which to congregate a large multi-generational family.Save this picture!© Lorena DarqueaThe design consists of a large two-story vertical bar that takes up a small portion of the land—a house surrounded by nature. The house stands back from the boundaries and has been placed in such a way to allow two big gardens to grow both in front and in the back. At the center of the bar, an interior garden passage joins the two side recesses with two wide folding doors. When opened, the doors allow double access to the house, so that circulation between the gardens and the house flows naturally.Save this picture!Ground PlanSave this picture!Top FloorThe wooden structure acts as a portico covering the whole width of the house, reducing the number of interior walls. The result is a constant communication between the inside and outside, going from the main entrance all the way to the back garden. Unnecessary circulation and isolated spaces are avoided. Service areas such as bathrooms, laundry room, and staircase are distributed along one side of the bar.Save this picture!© Lorena DarqueaThe architectural program prioritized the common areas; the private spaces were reduced to a single master bedroom. The rest of the project is a big living space with no barriers. On the second floor, the open space can function both as a living room or closed off as a private room, with a folding door and cushions on the floor. The two levels are connected by the two-story high interior garden. A net hangs from one of these spaces, acting like a hammock.Save this picture!Isometric SchemeFinally, the interior and exterior walls were constructed of dry panels. All the measurements were adjusted and distributed according to the standards of the panels, aiming at minimizing waste. On the outside, cement panels with socket joints were used to protect the wooden structure. On the inside OSB panels are used in the common areas and cement panels were used in the wet zones. The panels were used “as is” and any other finish was avoided to make the construction more efficient.Save this picture!© Lorena DarqueaProject gallerySee allShow lessFoster + Partners’ Residential Highrise to Become Miami’s Tallest TowerArchitecture NewsFederico Babina’s ARCHIPLAY Illustrations Imagine Set Designs by Master ArchitectsArchitecture News Share 2016 ArchDaily CopyAbout this officeESEcolectivo ArquitectosOfficeFollowProductWood#TagsProjectsBuilt ProjectsSelected ProjectsResidential ArchitectureHousesQuitoEcuadorPublished on November 01, 2016Cite: “RETOÑOS HOUSE / ESEcolectivo Arquitectos” 01 Nov 2016. ArchDaily. Accessed 11 Jun 2021. ISSN 0719-8884Browse the CatalogShowershansgroheShower MixersEducational3MProjection Screen Whiteboard FilmPartitionsSkyfoldWhere to Increase Flexibility in SchoolsLinoleum / Vinyl / Epoxy / UrethaneTerrazzo & MarbleTerrazzo in The Gateway ArchSkylightsLAMILUXGlass Skylight FE PassivhausConcreteKrytonSmart ConcreteMetallicsTrimoMetal Panels for Roofs – Trimoterm SNVWire MeshGKD Metal FabricsMetal Fabric in Kansas City University BuildingGlassDip-TechDigital Ceramic Curved Glass PrintingMetallicsRHEINZINKZinc Roof Systems – Double Lock Standing SeamChairs / StoolsFreifrauBarstool – OnaSealants / ProtectorsWoodenha IndustriesFireproofing System for Wood Cladding – BIME®More products »Save世界上最受欢迎的建筑网站现已推出你的母语版本!想浏览ArchDaily中国吗?是否翻译成中文现有为你所在地区特制的网站?想浏览ArchDaily中国吗?Take me there »✖You’ve started following your first account!Did you know?You’ll now receive updates based on what you follow! Personalize your stream and start following your favorite authors, offices and users.Go to my stream “COPY” CopyHouses•Quito, Ecuador Year:  Houses Architects: ESEcolectivo Arquitectos Area Area of this architecture projectcenter_img Area:  180 m² Year Completion year of this architecture project ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/798253/retonos-house-esecolectivo-arquitectos Clipboard Save this picture!© Lorena Darquea+ 18 Share Projects Photographs:  Lorena Darquea Manufacturers Brands with products used in this architecture project Photographs “COPY” ShareFacebookTwitterPinterestWhatsappMailOrhttps://www.archdaily.com/798253/retonos-house-esecolectivo-arquitectos Clipboard Ecuadorlast_img read more

first_img Melanie May | 18 November 2016 | News Tagged with: Institute of Fundraising street fundraising Significant improvements in street fundraising standards reported by IoF AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis11 About Melanie May Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via www.thepurplepim.com.center_img  84 total views,  2 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis11 The total number of recorded rule infractions by street fundraisers has fallen by 62% according to half-year figures compiled by IoF Compliance, the directorate within the Institute of Fundraising created after September’s merger with the Public Fundraising Association.While the average number of breaches in 2015/16 was 38 per month, this has reduced to 17 per month, while failure to provide solicitation statements has fallen by 74%.A number of rules have also seen zero reported breaches, including wearing clearly branded charity clothing; approaching members of the public while they work; and approaching members of the public while seated or in cafes and restaurants.Peter Hills-Jones, IoF compliance director, said:“We have worked tirelessly with our members over the last two years to ensure high standards are at the core of what it means to be a good fundraiser. They have clearly stepped up to that challenge and I congratulate everyone who has contributed to this huge improvement.”Stephen Dunmore, chief executive of the Fundraising Regulator commented:“We welcome the significant improvements in the way street fundraising by charities takes place, as shown in the half year compliance figures. Better practice by charities and the agencies that work for them, treating donors with respect, will encourage trust and confidence when the public is asked by street fundraisers to consider donating.”The IoF carries out over 2000 undercover ‘mystery shops’ across the UK each year to ensure that members are regularly adhering to the requirements of the Street Fundraising Rulebook.The IoF has also announced its intention to consult members on plans for a new accreditation programme designed to further strengthen fundraising standards. The programme will apply to all public fundraising agencies and any charity operating an in-house public fundraising team and will cover a wide range of issues related to fundraising standards, such as members’ training and compliance systems. The consultation will be launched before Christmas.The IoF will also be consulting members on establishing a permanent mystery shopping programme for private site fundraising, which is not currently covered by IoF Compliance’s work programme. Advertisement  83 total views,  1 views todaylast_img read more

first_imgLinkedin Email RELATED ARTICLESMORE FROM AUTHOR Facebook Cllr Michael Collins, Fianna Fáil. Photo: Cian ReinhardtNEWCASTLE West in County Limerick is to become a Fairtrade Town following agreement by all municipal district councillors.There was unanimous agreement in support of Newcastle West becoming a Fairtrade Town following a motion proposed by the Mayor of Limerick City and County Council, Cllr Michael Collins and seconded by Cllr John Sheahan.Sign up for the weekly Limerick Post newsletter Sign Up Mayor Collins had recently participated in a number of Limerick City Fairtrade events and had requested that the Limerick group make a presentation to the Newcastle West Municipal District about the work they do and why it is important.Mayor Collins said: “This is an important step for Newcastle West as it embraces compassion and while acting locally we are thinking globally. Fairtrade means standing with farmers and producers for fairness and equality, and against some of the biggest challenges the world faces.”“Fairtrade is one simple way to spark change – and it starts with our choices. I am delighted to have supported Newcastle West on its journey to becoming a Fairtrade Town. I would like to thank Dolores O’Meara, Sr Delia O’Connor and their team of Limerick City Fairtrade volunteers for the enlightening presentation and wish them every success with the efforts on Fairtrade throughout the city and county.”Limerick City has been a Fairtrade City since 2005 and works to promote the goals of fairness and equality for people in less well developed nations. Fairtrade embraces the United Nations Sustainability Goals which aim to end poverty in all its forms, everywhere, while leaving no one behind.This ambition is central to Fairtrade’s mission which want to ensure that food producers and farmers have a living wage within their country.Embracing Fairtrade is an action under Climate Action and relevant to a number of categories in the National TidyTowns Competition. This will be an action in the Newcastle West Tidy Towns group application for 2021. LimerickNewsNewcastle West to become a Fairtrade TownBy Meghann Scully – April 17, 2021 839 WhatsApp Donal Ryan names Limerick Ladies Football team for League opener Billy Lee names strong Limerick side to take on Wicklow in crucial Division 3 clash TAGSKeeping Limerick PostedlimerickLimerick Post center_img Previous articleMore Limerick Schools to benefit from extension of the Hot Meals SchemeNext articleTreaty Suffer Last Minute Heartbreak in Galway Meghann Scully Advertisement Limerick’s National Camogie League double header to be streamed live WATCH: “Everyone is fighting so hard to get on” – Pat Ryan on competitive camogie squads Limerick Ladies National Football League opener to be streamed live Roisin Upton excited by “hockey talent coming through” in Limerick Twitter Printlast_img read more

first_img Servicers Navigate the Post-Pandemic World 2 days ago Previous: Proposed Bill Would Enact Automatic Forbearance, Prohibit Foreclosures Next: Targeted Training for Brokers Announced Phil Hall is a former United Nations-based reporter for Fairchild Broadcast News, the author of nine books, the host of the award-winning SoundCloud podcast “The Online Movie Show,” co-host of the award-winning WAPJ-FM talk show “Nutmeg Chatter” and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill’s Congress Blog and Profit Confidential. His real estate finance writing has been published in the ABA Banking Journal, Secondary Marketing Executive, Servicing Management, MortgageOrb, Progress in Lending, National Mortgage Professional, Mortgage Professional America, Canadian Mortgage Professional, Mortgage Professional News, Mortgage Broker News and HousingWire. Mortgage delinquencies could remain above pre-pandemic levels until 2022, according to a new forecast published in the Black Knight Mortgage Monitor Report.Black Knight is also predicting more than 1 million excess delinquencies could occur in March 2021 when the first wave of forbearances reaches the 12-month expiration period. The Jacksonville, Florida-based company also observed that the mortgage market has seen five months of continual increases in serious delinquencies, albeit at a slower pace during August, compared with the three-to four-month peak typically seen in 90-day delinquencies following natural disasters.“For the first several months of the pandemic, the performance impact of COVID tracked relatively closely to that of major hurricanes,” said Black Knight Data & Analytics President Ben Graboske. “Those trends have since begun to diverge, however, and looking at the three-month average rate of improvement since May’s peak in mortgage delinquencies suggests a longer recovery timeline. At the current rate of improvement, delinquencies would remain above pre-pandemic levels until March 2022.”During August, Black Knight determined that 2.4 million homeowners who received coronavirus-related forbearance plans have since exited those plans, with most of the borrowers currently performing. This represents 41% of all homeowners who have been in forbearance plans.“Of those no longer in forbearance but still past due, the vast majority–some 267,000–are in active loss mitigation programs with their lenders,” Graboske said. “Just 54,000 loans at present represent significant risk–having left forbearance, are past due and not engaged in loss mitigation efforts.”Graboske also pointed out that record levels of equity helped to mitigate foreclosure risk. Black Rock’s latest data estimated that nearly 45 million homeowners have tappable equity in their homes, the largest volume ever. The average level stands at nearly $125,000, a record-breaking increase of more than $3,200 from one year ago.“Seventy percent of those were already delinquent in February, before COVID became a factor,” he continued. “Furthermore, American homeowners now have the most equity available to them in history. Of those in forbearance, just 9% have less than 10% equity in their homes, which offers both borrowers and lenders multiple options in lieu of foreclosure.” The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Phil Hall Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save October 5, 2020 1,501 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Delinquencies Above Pre-Pandemic Levels Predicted Into 2022 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, News Demand Propels Home Prices Upward 2 days ago  Print This Post Delinquencies Above Pre-Pandemic Levels Predicted Into 2022 Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2020-10-05 Christina Hughes Babb Subscribelast_img read more

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago 2021-03-12 Christina Hughes Babb  Print This Post in D&I, Daily Dose, Featured, Government, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago “It is daunting to take on a representation gap so huge that it would take over a century to close without intervention,” he said.In 2018 Fannie created Future Housing Leaders (FHL) to use its position in the housing ecosystem by rallying its customers in a concerted effort to diversify the housing industry. The program involves partnering with university-backed initiatives to connect college students to paid summer internships and early career opportunities in the housing industry, with an emphasis on recruiting where historically underrepresented groups can be made aware of these opportunities.”While this undertaking is not an easy feat, it is exciting to tackle this challenge with steadfast partners who share Fannie Mae’s commitment to promoting diversity, equity, and inclusion,” Imo said. “If we succeed, our efforts will have a resounding impact on the housing industry, homebuyers and renters, and the careers of Future Housing Leaders participants.” Previous: The Week Ahead: Overcoming Barriers to Create Economic Equality Next: Most Valuable Company Profile: Mortgage Contracting Services, LLC About Author: Christina Hughes Babb Recommendations for Closing the Diversity Gap in Housing Home / D&I / Recommendations for Closing the Diversity Gap in Housing Share Savecenter_img March 12, 2021 1,246 Views Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago A pandemic that in the past year has changed every American’s way of life also has illuminated and exacerbated shortcomings in the U.S. economy and housing.”We Can’t Wait 114 Years to Close the Diversity Gap in Housing”—it’s the central theme of an essay from Kenneth Imo, VP of Diversity and Inclusion at government-sponsored enterprise Fannie Mae.”Over the past year, social unrest and the pandemic have cast a glaring spotlight on the persistence of systemic racial and socioeconomic inequity, including the widening wage gap between White and People of Color households,” Imo wrote. “For most of America, sustainable homeownership has been a main driver of generational wealth accumulation. However, laws mandating segregation, and policies and practices such as redlining, which prevented Black homebuyers from accessing credit for home and business mortgages, created inequitable access to homeownership and the financial rewards accompanying it.”He points out that the housing sector is further behind when it comes to inclusion and diversity than the country as a whole.The Brookings Institute in 2019 showed Whites, Hispanic or Latino, Blacks, and Asian Americans currently represent 60.1%, 18.5%, 12.5%, and 5.9% of the U.S. population, respectively.When it comes to the population of Americans working within housing-finance and related areas, those numbers shift to 71.6% White, while Hispanic or Latino, Blacks, and Asian Americans represent 9.1%, 7.5%, and 9.4%, respectively.”It is imperative that the industry reflect the country it serves to more effectively address the inequities …,” he noted.And this ostensibly impacts the share of Americans who own homes. The rate of Black homeownership today is 29 percentage points lower than for White households, according to the U.S. Census Bureau.The median wealth of White households ($162,800) in 2016 was ten times higher than Black households ($16,300), and eight times higher than Hispanic households ($21,400), which is partially attributable to historically lower homeownership rates among these groups, as reported by the Joint Center for Housing Studies of Harvard University. A separate report from Redfin just showed that despite the “substantial home-equity uptick” in 2020, Black Americans who bought in 2019 still have a median of $89,000 in equity, much lower than $113,000 for white Americans.“Black homeowners benefited from 2020’s hot housing market, and the trend is continuing into this year as Americans remain intensely interested in relocating and buying homes and home values continue to rise,” Redfin’s Chief Economist Daryl Fairweather said. “But less than half of Black Americans own the home they live in, so most of the Black community didn’t benefit from the enormous wealth homeowners have gained in the past year. Especially compared with the three-quarters of White Americans who own their homes, the total benefit for Black families across the country is relatively small. With higher unemployment rates and less overall wealth, Black families were not as likely as White families to buy homes even when prices were comparatively low.”Redfin’s economist echoes the idea that COVID-19 illuminated and exacerbated the problems of inequitably and inequality.”Now that prices are so high and the pandemic has contributed to high unemployment, especially for Black workers, it’s even more difficult for people who don’t already own homes to break into the housing market,” Fairweather continued. “There is a major need and a big opportunity for policymakers to enact programs like down-payment assistance and zoning reform to help narrow the homeownership gap and enable more Black families to build wealth through home equity.”Racist housing policies like redlining and racial covenants, which have been illegal for decades, continue to contribute to homeownership and wealth gaps between Black and white Americans, she added.Imo and Fannie Mae are floating a solution to the dilemma, which feels overwhelming when one examines the numbers, saying, “We must act with intentionality.” Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

first_img WhatsApp Gardai continue to investigate Kilmacrennan fire Homepage BannerNews Google+ Facebook Twitter Further drop in people receiving PUP in Donegal Facebook There are now two security alerts underway in Derry.Within the past hour, the PSNI said a suspicious object had been found in Jeffrey Avenue in the Waterside, and an Army Technical Officer has been tasked to examine it.Members of the public should avoid the area of Jeffrey Avenue and Harkness Gardens.Earlier, police closed some roads around Trafalgar Court and evacuated up to 20 homes after a suspicious object was found in the front garden of a house. Google+ Twitter By News Highland – February 19, 2015 center_img Update – Another security alert in Derry after suspicious object found in Jeffrey Avenue RELATED ARTICLESMORE FROM AUTHOR Pinterest Previous articleSuspicious object has been discovered in the front garden of a home in DerryNext articleMc Monagle urges Glencar community to support local Centra News Highland Man arrested on suspicion of drugs and criminal property offences in Derry Pinterest 75 positive cases of Covid confirmed in North WhatsApp Main Evening News, Sport and Obituaries Tuesday May 25th 365 additional cases of Covid-19 in Republic last_img read more

first_imgNews UpdatesAllahabad HC Directs UP Advocates’ Welfare Fund Trustees Committee To Take Loan If It Doesn’t Have Enough Funds To Support Lawyers [Read Order] Akshita Saxena19 May 2020 3:49 AMShare This – xThe Allahabad High Court on Thursday directed the Trustees Committee, constituted under the Uttar Pradesh Advocates Welfare Fund Act, 1974, to take a loan in case it does not have sufficient funds to assist financially weak lawyers, during the lockdown period. “Under Section 5 the Trustees Committee may use its powers in the present times to borrow funds and, therefore, under…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?LoginThe Allahabad High Court on Thursday directed the Trustees Committee, constituted under the Uttar Pradesh Advocates Welfare Fund Act, 1974, to take a loan in case it does not have sufficient funds to assist financially weak lawyers, during the lockdown period. “Under Section 5 the Trustees Committee may use its powers in the present times to borrow funds and, therefore, under no circumstances can U.P. Advocates’ Welfare Fund Trustees Committee come up with a case that it is lacking funds. It can also not transfer it’s burden of providing help to the State Bar Council as under Section 4 of the Act virtually all funds of the State Bar Council stand transferred to it,” the bench of Chief Justice Govind Mathur and Justice Siddhartha Varma has ordered. The direction was passed in view of the lax approach of the Committee to formulate a scheme for releasing of funds towards needy Advocates, despite court’s order dated April 20, 2020. The Committee had informed the court that the failure to devise a disbursal scheme was on account of “no money” in the funds. Rejecting this submission, the bench highlighted that the funds received under Section 4 of the UP Advocates Welfare Fund Act in the form of stamp duty on certificates of enrolment paid by advocates, are sufficient for bringing succour to lawyers in the present times. The bench further noted that Section 5 of the Act provides that the Trust could also borrow money for the welfare of needy advocates. In this backdrop the court directed that the Committee may proceed to borrow money. “We further provide that if the Trust applies for loans it may be extended the same. The guarantee may be provided by the Government,” the order states. The bench also emphasized on Rule 44B of the Bar Council of India Rules, which provides for formulation of a scheme for providing financial assistance to lawyers during natural calamity, etc. “When Rules of the Bar Council of India provide for help to an advocate at the time of a natural calamity then a scheme ought to have been formulated by the Trustees of the Act under Section 3(1)(c) of the 1974 Act for providing succour to needy advocates in the present times when Courts have been indefinitely made nonfunctional because of the spread of Covind-19 virus,” the bench observed. The matter will now be taken up on May 26. Case Details: Case Title: In Re – Assistance To The Needy Advocates And Registered Advocate Clerks Case No.: PIL 569/2020 Quorum: Chief Justice Govind Mathur and Justice Siddhartha Varma Appearance: Advocate Archana Singh (for UP Advocates’ Welfare Fund Trustees Committee); Advocate Manan Mishra (for Bar Council of India); Advocate Anandi Krishna Narayan (for Bar Council of UP); Advocates HGS Parihar and Sharad Pathak (for Oudh Bar Association) and Senior Advocates Rakesh Pandey and Amrendra Nath Singh for (Allahabad HCBA) Click Here To Download Order Read Order Subscribe to LiveLaw, enjoy Ad free version and other unlimited features, just INR 599 Click here to Subscribe. All payment options available.loading….Next Storylast_img read more

first_imgNews UpdatesRajya Sabha Passes Bill To Temporarily Suspend Initiation Of Corporate Insolvency Resolution Process Under IBC [Read Bill] Akshita Saxena19 Sep 2020 1:13 AMShare This – xThe Rajya Sabha today passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, by voice vote. The Bill, already in force as an Ordinance, seeks to amend the IBC Code 2016 and temporarily suspend initiation of the Corporate Insolvency Resolution Process (CIRP), for a period of one year. While introducing the Bill, Finance Minister Nirmala Sitharaman explained that…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?LoginThe Rajya Sabha today passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, by voice vote. The Bill, already in force as an Ordinance, seeks to amend the IBC Code 2016 and temporarily suspend initiation of the Corporate Insolvency Resolution Process (CIRP), for a period of one year. While introducing the Bill, Finance Minister Nirmala Sitharaman explained that the Bill shall temporarily suspend initiation of corporate insolvency resolution process for a period not exceeding one year, from March 25, 2020, to ease the financial stress being faced by companies during the extraordinary economic situation caused by the COVID-19 pandemic. Parliamentary Debate Though the Bill was supported by many Members, they expressed concern that it offers blanket protection, even to wilful defaulters. Congress MP Vivek Tankha said that the Bill will enable the companies, that were already under defaulting category, to use the Bill as a shield. He asked the Government to clarify if it was protecting only such companies affected by Covid-19 during this period, or all of them. Responding to this, BJP MP Arun Singh expressed the difficulty in distinguishing Covid-19 companies as all services across the world had been stopped. Some Members also said that the Bill is preventing voluntary Corporate Debtors from filing for bankruptcy. BJD MP Dr. Amar Patnaik pointed out that until June 2020, as many as 260 CIRP were initiated by Corporate Debtors themselves but they were prevented from proceeding due to the Bill. Another concern raised by the Members was that when the stay on CIRP ends, there will be a sudden rush with the IBC Board resulting in erosion of capital value. DMK MP P. Wilson welcomed the Bill but said that it discriminates between Corporates and the common man. He asked the Government why it had not offered similar treatment to individuals, proprietorship entities & partnership firms under Section 3 of IBC. He sought the Government to waive of the interest rates on home loans, vehicle loans, agricultural loans and credit cards. Speaking on the occasion, NCP MP Praful Patel asked the Government to work upon creating more NCLT Benches and fill up the vacancies. He also stressed that Resolution Professionals appointed under the Code must are not fully equipped and must be trained. Salient Features Prohibition on the initiation of CIRP The Bill restricts initiation of CIRP, voluntary or by the creditors, for defaults that arose during the six months from March 25, 2020. This period may however be extended by the Central Government to one year, through notification. An Explanation appended to Section 10A of the Bill clarifies that during this period, CIRP can still be initiated for any defaults arising before March 25, 2020. Liabilities for wrongful trading The Bill prohibits the Resolution Professional from filing an application before the NCLT to contribute personal assets of the director or a partner of the corporate debtor to the company assets. [Under normal circumstances, a director or a partner of the corporate debtor may be held liable to make personal contributions if despite knowing that the insolvency proceedings cannot be avoided, he did not exercise due diligence in minimising the potential loss to the creditors] Click Here To Download Bill Read Bill Next Storylast_img read more