Chancellor Rachel Reeves has announced the autumn budget for 2024. Commenting on the announcements James Burgess, Head of Commercial and insolvency expert at Atradius said “Today’s Autumn Budget could be a game-changer for businesses across the UK, marking a pivotal moment for the economy. With Labour’s proposals set to impact retail, hospitality, and leisure businesses,…
Key Takeaways Credit and debit card spending by household was up 1.0% in October compared to the year prior, up from a decline in September, according to a recent report. If you’re feeling pressured to spend more this holiday season, consider strategies and tools like debt consolidation, balance transfers, and budgeting apps before taking on…
WISI Communications, the German communications tech provider, has announced that, on November 27th, the Pforzheim District Court decided to terminate the insolvency proceedings against the assets of the company. The decision came into effect at midnight on November 30th, following the legally binding confirmation of the insolvency plan. WISI said it initiated the insolvency proceedings…
No Proceedings Against Corporate Debtor Can Be Initiated Or Continued Over Claim Which Is Not Part Of… Live Law – Indian Legal News Read the original article here
New Delhi: Riju Raveendran, the largest shareholder of edtech company Byju’s and brother of founder Byju Raveendran, approached the insolvency tribunal on Monday, seeking to be included in the insolvency case deliberations involving the troubled firm, its lenders and the cricket board. Riju Raveendran’s counsel urged the tribunal to allow him to present his defence…
The National Company Law Appellate Tribunal, New Delhi bench of Justice Rakesh Kumar Jain (Judicial Member), Naresh Salecha (Technical Member) and Mr Indevar Pandey (Member) held a liquidator cannot not create sub-leases over public land without adhering to the statutory requirements. It was further held that Section 238 of the Insolvency and Bankruptcy Code, 2016…
Glas Trust, which represents a group of US entities that lent $1.2 billion to beleaguered edtech firm Byju’s, on Monday questioned the maintainability of the withdrawal application for the insolvency petition filed by the Board of Control for Cricket in India (BCCI’s) against the company. Glas Trust argued in the National Company Law Tribunal (NCLT)…
If you recently received a salary increase or haven’t updated your income information with your credit card issuer in a while, you might qualify for a credit limit increase. By securing a higher credit limit, you’ll be giving yourself more spending power and keeping your credit utilization rate low — and these factors make up a…
President-elect Donald Trump is unlikely to continue many of Biden’s student-debt relief efforts. Borrowers are still waiting for a final court decision on the SAVE student-loan repayment plan. Even if the plan survives the courts, Trump and GOP lawmakers could take steps to rein in relief. During his term as president, Joe Biden has used…
The share application money was given for the allotment of shares but neither were shares allotted nor was money refunded The New Delhi bench of National Company Law Appellate Tribunal ( NCLAT) has held that share application money deposited with the corporate debtor cannot be treated as financial debt under section 5(8) of the IBC.…