NCLAT approves ArcelorMittal’s resolution plan for Essar Steel sale

The move will offer financial creditors Rs 41,987 crore while operational creditors would get Rs 214 crore out of their total unresolved dues. Indian steel conglomerate, ArcelorMittal S.A. has recently bagged approval from the National Company Law Appellate Tribunal (NCLAT) for implementing its Rs 42,000 crore …

Lumber Liquidators to pay regulators $33M to settle flooring scandal

The United States Department of Justice & the Securities & Exchange Commission announced the settlement. The ruling comes four years after the company was allegedly caught selling laminate flooring that contained high levels of formaldehyde. Lumber Liquidators Inc. (Lumber), a Virginia-based hardwood flooring retail company, …