Bangkok Post – SCB, ttb expecting debt relief scheme to expand
PUBLISHED : 28 Feb 2025 at 04:00 Small Medium Large (Photo: 123RF) Siam Commercial Bank (SCB) and… Read the original article here
Metropolitan Sacco now insolvent, declares State – Nation
Metropolitan Sacco now insolvent, declares State Nation Read the original article here
Federal Court Drops Truth Bomb: Your Gambling Debts Are Just Fancy IOUs
Subscribe to our FREE Newsletter, or Telegram and WhatsApp channels for the latest stories and updates. When it comes to gambling in Malaysia, the house doesn’t always win.
NCLAT sets aside insolvency process against Cafe Coffee Day’s parent company
The National Company Law Appellate Tribunal (NCLAT) has set aside an order of the National Company Law Tribunal (NCLT) that allowed corporate insolvency resolution process (CIRP) against Coffee Day Enterprises Ltd (CDEL), the operator of the Cafe Coffee Day chain. A two-judge panel of the Chennai bench of the NCLAT, comprising Judicial Member Justice Sharad…
At G20 meeting, African leaders launch initiative calling for debt relief package for emerging economies
JOHANNESBURG – Global finance institutions are again under pressure to reform as Africa uses G20 to address the continent’s challenges. Top of the list is the high debt burden carried by emerging economies, who are slapped with high debt servicing costs. ALSO READ: – Former African heads of state call for urgent action to address…
What This Means For The Grocery Aisle
DENYSOFF/Shutterstock An icon of American orange juice is facing a money crisis. According to Debwire (via CNN), Tropicana Brands Group, whose eponymous orange juice brand is one of the best, has recently suffered a 10% loss in quarterly income and a 4% quarterly revenue loss. The consistently lagging…
NCLAT Sets Aside Insolvency Process Against Cafe Coffee Day's Parent Company – Moneylife
NCLAT Sets Aside Insolvency Process Against Cafe Coffee Day’s Parent Company Moneylife Read the original article here
Gratuity Dues of Workers not Part of ‘Liquidation Estate’ of Corporate Debtor
Gratuity payments are classified as excluded dues and therefore, remain outside the scope of asset distribution among creditors under the waterfall mechanism in Section 53 of the IBC The Calcutta High Court ruled that gratuity obligations are not included in the corporate debtor’s liquidation estate as defined under the Insolvency and Bankruptcy Code, 2016 (IBC),…
Discussion paper released on corporate misuse of the Fair Entitlements Guarantee
On 17 February 2025, the Department of Employment and Workplace Relations (DEWR) issued a discussion paper addressing corporate misuse of the Fair Entitlements Guarantee (FEG). The paper sets out several options for reform aimed at addressing and putting an end to future misuse of FEG by unscrupulous corporate actors. Key takeaways The Department of Employment…
When Debt Is Not Unequivocally Admitted By Corporate Debtor, Application U/S 9 Of IBC Must Not Be Entertained: NCLAT
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Barun Mitra (Technical Member) and Mr. Arun Baroka (Technical Member) has held that the application under section 9 of the Insolvency and Bankruptcy Code, 2016 (Code) cannot be entertained when the debt is not unequivocally admitted by the…