The National Company Law Tribunal (NCLT) Mumbai bench of Shri Anil Raj Chellan (Judicial Member) and Shri K. R. Saji Kumar (Technical Member) while disallowing the Liquidator’s application for the private sale of the Corporate Debtor’s assets, it was held that the Liquidator must not restrict the private sale to a single buyer but should…
PUTRAJAYA: The rising trend of people declaring themselves bankrupt is a concern as it shows many are struggling with severe financial difficulties, says the Insolvency Department director-general Datuk M. Bakri Abd Majid. In recent years, more people have opted to declare themselves bankrupt through a Debtor’s Petition, a legal process to protect themselves from excessive…
Former SAS: Who Dares Wins star Ant Middleton has been banned from being a company director, after his company failed to pay more than £1m tax. The Insolvency Service said Mr Middleton and his wife, Emilie, “were taking millions of pounds out of” their company when it should have been paying the tax instead. The…
Troubled electric vehicle maker Nikola has filed for Chapter 11 bankruptcy protection months after saying that it would likely run out of cash early this year. Nikola was a hot startup and rising star on Wall Street before becoming enmeshed in scandal and its founder was convicted in 2022 for misleading investors about the Arizona…
Translated by Nazia BIBI KEENOO Published March 29, 2025 … Read the original article here
Hudson’s Bay, Canada’s oldest company, is winding down its operations at most of its stores across the country—except for three locations in Ontario and three in Quebec. The Bay is just the latest of many to shutter in Canada. Here’s what other stores shut down. Published: March 28, 2025 at 9:04AM EDT Target Canada The popular…
An Ontario judge has rejected a Hudson’s Bay Company restructuring agreement, increasing the likelihood that lenders may seek to push the company into receivership. In a written decision issued Saturday, Justice Peter Osborne of the Superior Court of Justice said he declined to approve the agreement because it is “neither necessary nor appropriate at this…
Lambeth is boosting the help it offers to residents who need support in managing their finances by partnering with debt advice charity StepChange. The cost of living crisis and the housing crisis mean more people than ever are struggling to manage their household budgets. Research shows that 92 percent of people struggling with debt wished they’d…
PUTRAJAYA (March 30): The rising trend of individuals declaring bankruptcy voluntarily is becoming a growing concern, signalling that many are struggling with severe financial difficulties. In recent years, more people have opted to declare themselves bankrupt through a Debtor’s Petition, a legal process filed in court to protect themselves from excessive creditor claims. Expressing concern…
The National Company Law Tribunal (NCLT) Mumbai bench of Hon’ble Shri K. R. Saji Kumar (Judicial Member) and Hon’ble Shri Sanjiv Dutt (Technical Member) has held that failure to respond to a demand notice within 10 days under Section 8 of the Insolvency and Bankruptcy Code, 2016 (the Code) does not bar the Corporate Debtor…