NHAI to seek conciliation in dispute with Jaiprakash Associates over ₹1,461.6 cr claims, ET LegalWorld

State-owned NHAI has decided to go for a conciliation process on the financial dispute with bankrupt Jaiprakash Associates Ltd concerning Varanasi Gorakhpur road projects. In the ongoing dispute, Jaiprakash Associates has sought ₹1,461.63 crore compensation for ‘four laning of Varanasi Gorakhpur Section of NH-29 from Km 14B.000 to Km 20B. 300 in Uttar Pradesh under…

Rite Aid declares bankruptcy, again

SHENANDOAH – A pharmacy chain with multiple locations in the Sentinel-area, and the only chain in the core of our region, is bankrupt. Again. Rite Aid Corporation declared a second Chapter 11 bankruptcy proceeding Monday. The ailing pharmacy chain had declared bankruptcy in 2023 and emerged from bankruptcy in September. “For more than 60 years,…

Inability to pay under Kenya’s Insolvency Act

Companies facing financial distress in Kenya may engage in the dispute resolution process or explore alternative dispute resolution (ADR) methods like mediation to resolve insolvency challenges without immediate liquidation. Directors can avoid insolvency proceedings by proactively using alternative dispute resolution strategies, protecting business relationships and avoiding public winding up petitions. Insolvency matters in Kenya typically…