Ola Electric’s vendor moves NCLT over unpaid dues, seeks insolvency action, ET LegalWorld

A vendor of Ola Electric Mobility Limited — Rosmerta Digital Services Private Limited — has filed an insolvency petition against a wholly owned subsidiary of the electric two-wheeler maker over alleged non-payment of dues. The vendor of Ola Electric Technologies Private Limited has approached the National Company Law Tribunal (NCLT) in Bengaluru, claiming that the…

Liquidation Looms for Hudson’s Bay Barring Last-Minute Financial Rescue

Hudson’s Bay Company, Canada’s venerable department store chain and the oldest corporation in North America, will begin to liquidate its entire business next week. The Toronto-based company said Saturday that it filed documents with the Ontario Superior Court of Justice indicating that it was only able to secure limited debtor-in-possession financing, necessitating the liquidation of…