The National Company Law Appellate Tribunal (NCLAT) on Friday rejected Jaiprakash Associates Ltd’s petition challenging the insolvency proceedings initiated against the company. While upholding an earlier order, the appellate tribunal NCLAT observed mere pending of loan restructuring arrangement with the lender before NCLT does not debar the creditors to file insolvency proceedings under section…
In a significant blow to Jaiprakash Associates Ltd (JAL), the debt-ridden parent company of the distressed Jaypee Group, the National Company Law Appellate Tribunal (NCLAT) on Friday dismissed its appeal challenging the company’s admission into insolvency. This decision affirms the National Company Law Tribunal’s (NCLT) 3 June order, which admitted JAL into insolvency proceedings based…
This article first appeared on KFF Health News. Worried that President-elect Donald Trump will curtail federal efforts to take on the nation’s medical debt problem, patient and consumer advocates are looking to states to help people who can’t afford their medical bills or pay down their debts. “The election simply shifts our focus,” said Eva…
The National Company Law Appellate Tribunal (NCLAT) on Friday (December 6, 2024) rejected Jaiprakash Associates Ltd’s petition challenging the insolvency proceedings initiated against the company. A three-member bench led by Chairperson Justice Ashok Bhushan has upheld the orders passed by the National Company Law Tribunal (NCLT), which had directed to initiate Corporate Insolvency Resolution Process…
Banking Insolvency in Nigeria: Liquidation of Heritage Bank as Case Study Proshare Read the original article here
Liz Purtell worked for Autograph for 27 years and feels she’s been treated badly by the company. Photo: Oliver Jacques. Collapsed women’s clothing company Mosiac Brands owes creditors $250 million worldwide, with many Australian staff members still not paid their entitlements weeks after store closures. In early October, Mosaic announced it would be winding up…
In this week’s TGIF, we examine the High Court’s recent decision in Greylag Goose Leasing 1410 Designated Activity Company & Anor v P T Garuda Indonesia Ltd [2024] HCA 21. In the decision, a majority of the High Court upheld the New South Wales Court of Appeal decision that foreign state immunity extends to a…
The National Company Law Appellate Tribunal (NCLAT) has rejected Jaiprakash Associates Ltd’s plea challenging insolvency proceedings initiated against the company. The decision upholds the NCLT’s order to initiate Corporate Insolvency Resolution Process (CIRP) against the company. New Delhi, Dec 6 (PTI) The National Company Law Appellate Tribunal (NCLAT) on Friday rejected Jaiprakash Associates Ltd’s petition…
The Pierer Mobility group has announced that struggling bike manufacturer KTM will enter self-administration and apply for the initiation of judicial restructuring proceedings. The Austrian marque is undergoing a significant financial crisis and was seeking at least 100 million euro to continue operating beyond 2024. The company, currently competing in MotoGP, has laid off hundreds…
After going into liquidation in September, Dark Matter rum brand was bought by Ardent Spirits, and the product is now being made at Banchory’s Burnobennie Distillery. The award-winning run was launched in 2015, making it Aberdeenshire’s first rum distillery, and is known for it’s spiced rum, white rum and flavoured rum liqueurs. Simon Morrice, Burnobennie Distillery distribution…