Mumbai: Tata Sons has directed the management of all group companies, especially new businesses such as Tata Digital, Tata Electronics and Air India, to independently manage their debts and liabilities, discontinuing the practice of providing letters of comfort and cross-default clauses to lenders, officials aware of the development told ET.All future capital allocation into these…
According to a free money advisory service, nearly 4,000 people searched for debt help over Christmas. Data from the Money Wellness website showed that 3,994 people visited the website on Christmas Eve, Christmas Day, and Boxing Day seeking advice on dealing with unmanageable debt. Almost 2,000 (1,835) people in London searched for support, followed by…
Stuart Woodward/BBC David says he is now back in charge of his finances with the help of debt charity StepChange A man who racked up £50,000 in debts has said January can be “the hardest month” for people struggling with their finances. David Davensac, from Rochford in Essex, fell on tough times when he lost…
Irish corporate insolvencies rose 16 per cent to their highest level in six years, though they came in below expectations as the fourth-quarter saw a drop off in company collapses, according to PwC. The Big Four accountancy firm said the total figure for 2024 was 852, which was well shy of its forecast that insolvencies…
What Chapter 11 bankruptcy means Filing for bankruptcy doesn’t always mean the end for an American business. There was a historic surge in U.S. corporate bankruptcy filings in June, with the highest number recorded in a single month since at least the start of 2020, new data shows. The number of corporate bankruptcy filings as…
Case Title: Ansal Crown Heights Flat Buyers Association (Regd.) vs. M/S. Ansal Crown Infrabuild Pvt. Ltd. & Ors. Citation: 2024 LiveLaw (SC) 63 The Supreme Court has held that the imposition of moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) has no effect on the execution of a decree against the…
EPFO can initiate assessment proceedings during liquidation: NCLAT on companies under IBC MSN Read the original article here
NCLAT Fortnightly: Important orders on IBC (November 16 – November 30, 2024) Bar & Bench – Indian Legal News Read the original article here
There was a lower than expected number of business insolvencies recorded during 2024 as upward trends towards the end of the year slowed, new figures published by accountancy firm PwC shows. During the course of 2024, PwC had been projecting there to be over 900 business insolvencies recorded by the end of the year. However,…
Elon Musk, Tesla CEO and tech billionaire, has recently expressed concerns about the US economy, warning that the nation could face bankruptcy “super fast” without significant intervention. Musk made the comments on The Joe Rogan Experience, voicing concerns about the US national debt which has reached a staggering $36.17 trillion and the growing burden of…