Mumbai: Dunar Foods Ltd, an accused in the 2016 NSEL scam case involving alleged cheating and siphoning of funds, has been discharged from criminal proceedings. The court’s decision was based on Section 32A of the Insolvency and Bankruptcy Code (IBC), which grants immunity to corporate debtors once a resolution plan is approved and management changes…
Lucapa Diamond Company in voluntary administration businessnews.com.au Read the original article here
Credit: zimmytws / Shutterstock A Connecticut resident, identified only as Tammie was diagnosed with breast cancer four years ago. While she did have insurance, not all parts of her treatment were covered. “In the midst of it all, money was tight,” according to a testimonial Tammie provided to the nonprofit organization Undue Medical Debt, who…
Celebrities sometimes appear above law and order or the general rules that affect the common man. They seemingly tend to behave recklessly or flout laws, for which they hardly get a hit. However, some celebrities push their privileges to the extreme and ultimately get banned from certain activities, including gambling. These tendencies never seem to…
Sponsored: Credit card debt relief for Texans WFAA Read the original article here
Last year, the U.S. Supreme Court struck down the use of nonconsensual third-party releases in Chapter 11 reorganization plans as not authorized under the Bankruptcy Code.1 While the Harrington v. Purdue Pharma decision involved mass tort liability, the broader curtailment of third-party releases in all contexts should cause directors and officers to reevaluate their personal liability exposure…
In this era of globalisation, international trade has significantly increased, where companies have business in multiple jurisdictions. One of the aspects of globalisation is companies falling into insolvency, which leads to overlapping and conflicts of law between countries, creating chaos for the stakeholders. The purpose of the Model Law is to eradicate the impediments and…
Harvest Sherwood declares bankruptcy, accuses Sprouts Farmers Market of driving it toward insolvency SeafoodSource Read the original article here
Glastonbury glampers have been left ticketless and thousands of pounds out of pocket after a Wiltshire-based yurt company went bust. Yurtel, a glamping firm based in Corsham, ceased trading on May 8, less than seven weeks before the festival gets underway. The company had offered hospitality tickets and accommodation packages that ranged from £10,000 for…
Glastonbury fans who paid more than £10,000 each for glamping packages have been left out of pocket and face missing the festival after the company through which they booked their tickets entered liquidation. In an email sent to some customers, Yurtel, which provided what it calls a luxury festival experience, said it would be unable…