The Insolvency and Bankruptcy Board of India’s (IBBI) proposal to include an option of mediation for operational creditors (OCs) under the Insolvency and Bankruptcy Code (IBC), should be looked into “seriously”, as it will cut the burden of NCLTs, said Anita Shah Akella, joint secretary, ministry of corporate affairs on Tuesday. “The (voluntary mediation) proposal…
Times are tough for KTM’s parent company Pierer Mobility AG. Though it has some of the best motorcycles around, one of which I still dream about and peruse the classifieds for on a weekly basis, the brand’s market share has essentially dropped off a cliff in recent years. There are obvious reasons for this fall,…
The Court of Auditors (Cour des Comptes) on 26 November issued its opinion on the draft law on the state revenue and expenditure budget for 2025 and the draft law on multiannual financial programming for the period 2024-2028. The opinion deplores the tripling of the country’s debt since 2008 and, above all, the lack of…
Tariffs: What you need to know President-elect Donald Trump has identified what he sees as an all-purpose fix for what ails America: Slap huge new tariffs on foreign goods entering the United States. Here’s what you need to know. Tariffs are a tax on imports They are typically charged as a percentage of the price…
SolarZero Limited (in liquidation) directors have requested its senior lenders take enforcement action and appoint the standby servicer Verofi as a replacement servicer, and that its shareholder appoint a liquidator. Customers will not be affected by the liquidation announcement, says SolarZero. Ahead of the liquidation, the senior lenders appointed Verofi as the replacement service provider…
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Companies New portal will show number of firms going to the wall after warning from state’s competitiveness council Business Post subscribers can read: • How the state’s new insolvency portal aims to improve clarity for businesses and… Read the original article here
The National Company Law Appellate Tribunal (NCLAT) has set aside a petition seeking to initiate insolvency proceedings against Amazon Wholesale (India). A three-member NCLAT bench upheld the order passed by the National Company Law Tribunal (NCLT), which had in March this year dismissed the insolvency plea filed by Multiplier Brand Solutions. Multiplier Brand Solutions had…
The Pierer Mobility Statement is below KTM AG, a wholly owned subsidiary of PIERER Mobility AG, will apply for the initiation of judicial restructuring proceedings with self-administration (Sanierungsverfahren unter Eigenverwaltung) on November 29, 2024. The financing requirements of KTM AG currently amount to a high three-digit million figure. The management now does not expect to…
Corporate insolvencies fell month-on-month and year-on-year in October despite ‘high numbers’ of directors winding down solvent companies before the Budget. The number of corporate insolvencies decreased by 10.4% in October 2024 to a total of 1,747 compared to September’s total of 1,950 and decreased by 23.8% compared to October 2023’s figure of 2,293. Corporate insolvencies…