WeightWatchers files for bankruptcy

On Tuesday (May 6), WeightWatchers announced filing for Chapter 11 bankruptcy. According to the company’s website, “After careful planning and discussions, we decided to initiate a prepackaged chapter 11 process. Unlike insolvency court processes in other countries, a prepackaged chapter 11 filing in the U.S. does not mean the company is going out of business…

Retirees Are Drowning in Credit Card Debt: 5 Ways To Take Action Now

PixelsEffect / iStock.com Commitment to Our Readers GOBankingRates’ editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology. 20…

Liquidation likely for Lion Electric

A court-appointed administrator said that the company will very likely be liquidated following the provincial government’s refusal to invest further public money into the company, which would have been a condition of any sale of the struggling company. Jean-François Nadon, a restructuring specialist with Deloitte, said “the likelihood of a liquidation of assets is very…

Legal Framework, Process, and Challenges

Corporate liquidation, also known as winding up, is a formal process through which a company’s legal existence is brought to an end, whether due to insolvency, inability to pay debts, or a voluntary decision by its stakeholders (Insolvency and Bankruptcy Code, 2016) [1]. In India, the prominence of corporate liquidation has increased significantly following the…

Singapore recognises Indian Corporate Insolvency Resolution Procedure under IBC 2016

Dikshat Mehra, Anjali Dhoot  Recently, the Singapore High Court (“SHC“) in the judgement of Re Compuage Infocom Ltd and another has recognised Corporate Insolvency Resolution Process (“CIRP“) under Insolvency and Bankruptcy Code, 2016 (“Code“), applying the UNCITRAL Model Law on Cross-Border Insolvency, 1997. Before getting into the details of the judgment and discussing its impact on…