In a significant relief for distressed homebuyers, resolution professionals can now hand over possession of plots, apartments, or buildings during the insolvency process, provided all obligations are met and the committee of creditors (CoC) approves. This will prevent prolonged delays in property handovers. This was part of several key amendments introduced by the Insolvency and…
Former One Nation senator referred to AFP The Australian Read the original article here
Germany records highest company insolvencies since financial crisis Reuters.com Read the original article here
In a major step toward improving the insolvency resolution framework, the Insolvency and Bankruptcy Board of India (IBBI) has proposed a mechanism for better coordination of the Corporate Insolvency Resolution Process (CIRP) for interconnected entities. A discussion paper released by the regulator highlights the inefficiencies, escalated costs and conflicts arising from the absence of a…
A bankruptcy court Friday allowed an application filed by the secured creditors of the Lavasa Corporation to restart a Corporate Insolvency Resolution Process (CIRP) for the company. The Mumbai bench of the National Company Law Tribunal (NCLT), while directing the revival process to be re-initiated, also directed the Committee of Creditors (CoC) to exclude the…
Les på norsk. TECO 2030 AS is bankrupt with NOK 204 million in debt. That was reported by Finansavisen earlier this week. The board submitted the bankruptcy petition on Tuesday, a few hours before the Ringerike, Asker, and Bærum district court was to hear a bankruptcy petition from the Norwegian Tax Agency due to outstanding…
The Delhi High Court recently quashed criminal proceedings against Bhushan Power & Steel Limited (BPSL) in relation to a complaint filed by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act, 2002 (PMLA) in view of Section 32A of the Insolvency and Bankruptcy Code (IBC). Noting that BPSL underwent a successful resolution under…
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BlueWave Secures $118.2 Million Debt and Tax Equity Raise to Support Maine Solar Portfolio The Malaysian Reserve Read the original article here
Will Houston go bankrupt? City Controller Chris Hollins says yes CW39 Houston Read the original article here