Moorcroft had warned in March of possible redundancies and at the time cited rising costs and falling sales. The news of the firm’s collapse was the latest blow to the industry in Stoke-on-Trent, a place affectionately known as The Potteries. Heraldic Pottery in Newstead also announced liquidation in February and that followed the closure of…
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member) and Mr. Arun Baroka (Technical Member) has held that when a creditor is well aware of the initiation of the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor but chooses not to file a claim before the Resolution…
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New York CNN — True Value, a 75-year old hardware store brand, has filed for bankruptcy and is selling substantially all of its operations to a rival, the company announced Monday. In a press release, True Value said it will continue day-to-day operations of selling hardware and other homeware tools to its 4,500 independently operated…
JSW Steel may be forced to write off its ₹19,700 crore investment in Bhushan Power & Steel Ltd (BPSL), after the Supreme Court declared the 2021 acquisition illegal and ordered the company into liquidation. The decision caused JSW shares to fall 5.5% on Friday to ₹972.15, and could potentially shave off 10–15% of the company’s…
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Bergen, Norway, 03 April 2025 – Norwegian deep sea mining company, Loke Marine Minerals, owner of UK deep sea mining company, UK Seabed Resources (UKSR), has declared bankruptcy. Loke had dreams of becoming the world’s largest deep sea mining company, holding licenses in the Pacific as well as setting their eyes on the Arctic. Now,…
Firm attracted attention over its business practices which included fake online reviews The FBA Brand Builder offices close to Ballymena. Inset: Darren Campbell Liquidators have been appointed for a controversial NI brand building company whose CEO announced its closure more than a month ago. The FBA Brand Builder, run by Darren Campbell (34), previously charged…
THE SUPREME COURT Friday rejected steel major JSW Steel Ltd’s Rs 19,000 crore bid to acquire Bhushan Power and Steel Ltd (BPSL) through the Corporate Insolvency Resolution Process (CIRP) route, and ordered the liquidation of the company. JSW acquired BPSL in March 2021 under the Insolvency and Bankruptcy code. JSW Group Chairman and Managing Director…
In a decisive verdict that underscores the sanctity of India’s insolvency framework, the Supreme Court on Friday quashed JSW Steel’s resolution plan for debt-laden Bhushan Power and Steel Ltd. (BPSL), citing gross violations of the Insolvency and Bankruptcy Code (IBC), 2016. The court ordered the immediate liquidation of BPSL, marking a significant setback for JSW…