The Albanese government has appointed Howard Insall SC as the part‑time Chairperson of the Companies Auditors Disciplinary Board (CADB) for three years and appointed six part-time members to the Insolvency Practitioner Registration and Disciplinary Committees (IPRDC). The appointment of Howard Insall follows the retirement of Maria McCrossin who has served on the CADB since August…
In an underperforming economy, China’s bankruptcy regime is following a steep trajectory to maturity and doomed businesses are making a revival. Sophia Luo reports ONCE REGARDED AS SOMETHING of a taboo, bankruptcy has now been generally accepted as an essential route for debt-ridden companies to deal with the burdens of the past, resolve debt overhang…
NCLAT Limits Insolvency to One Project Construction World Read the original article here
The tribunal held that the appellant being a shareholder of the company is not the “aggrieved party” as per the provisions of the Code The New Delhi bench of the National Company Law Appellate Tribunal ( NCLAT ) ruled that a shareholder of the company is not the “aggrieved party” as per the provisions of…
The NCLAT New Delhi bench of Mr. Justice Ashok Bhushan (Chairperson) and Mr. Barun Mitra (Technical Member) has held that making belated entries in the books of account to show that goods were misappropriated cannot escape the conclusion that the dispute raised by the corporate debtor was merely a moonshine just to avoid the liability.…
Mapstone will contribute to the company’s operations in Dundee, Aberdeen and more. Credit: © Begbies Traynor Group plc. Professional services company Begbies Traynor has expanded its team with the appointment of Kevin Mapstone as a director at its Edinburgh office. With more than 25 years of experience in financial services, Mapstone specialises in insolvency and…
Summary Africa remains at the epicentre of the global debt crisis, with existing debt frameworks insufficient for addressing the complexities faced by African countries. There is a real need to reduce debt burdens, especially for countries facing vulnerabilities like climate change. There is a need for comprehensive reforms in global financial and…
The Pierer Mobility Group has announced that KTM is entering into voluntary restructuring in order to avoid bankruptcy amid ongoing financial woes in the company. KTM’s financial problems have led to a number of drastic measures in recent months, with its board of directors slashed from six to two while several rounds of staff layoffs…
Jet Airways an erstwhile premium airline operating primarily in Indian air space has been suffering financial distress for almost a decade now. After being relegated to insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 (IBC), the Company and its lenders had finally seen some hope of being airborne again when a resolution plan was…
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