By enabling concurrent invitations, the resolution process will see reduced timelines, prevent value erosion in viable segments, and encourage broader investor participation, IBBI said. | Photo Credit: Image by rawpixel.com on Freepik The Insolvency & Bankruptcy Board of India (IBBI) has notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons)…
Subpoenas issued after Builder.ai declares insolvency MSN Read the original article here
The National Company Law Tribunal (NCLT), New Delhi bench of Shri Mahendra Khandelwal (Judicial Member) and Shri Atul Chaturvedi (Technical Member) held that when the lease amount is unpaid by the Corporate Debtor it amounts to Operational Debt under the Insolvency & Bankruptcy Code, 2016 (“the Code”). Background Facts: M/s Unified Credit Solutions Private Limited…
Canada’s Hudson’s Bay retail chain to terminate more than 8,300 workers by Sunday Reuters Read the original article here
New Australian Securities & Investments Commission (ASIC) data has revealed mounting financial pressure is leading to more Australian transport and logistics operators being pushed to the brink. The latest data shows insolvencies in the sector is rising, with businesses continuing to struggle amid rising costs, labour shortages, regulatory burdens and falling asset values. Business recovery…
Popular DNA testing company 23andMe has filed for bankruptcy after multiple failed takeover bids by its CEO, petitioning the US Bankruptcy Court to be allowed to sell its assets. Chief financial officer Joe Selsavage will take over as interim CEO from co-founder Anne Wojcicki, who resigned along with the announcement after multiple failed attempts to…
Insolvency proceedings against the employer’s assets (insolvency debtor) are initiated if one of the grounds for insolvency as defined in Sections 17f et. of the German Insolvency Code (Insolvenzordnung, InsO) applies (§ 16 InsO), i.e. if the insolvency debtor is either unable to pay (Section 17 InsO), at risk of being unable to pay (Section…
The Supreme Court on May 29 issued notice in set of appeals challenging the National Company Law Appellate Tribunal’s (NCLAT) decision allowing insolvency proceedings against embattled edtech giant Byju’s parent company, Think & Learn Pvt Ltd. The apex court sought responses on petitions filed by the Board of Control for Cricket in India (BCCI) and…
GECOF – Gestão de Conteúdo Oficial SalvadorAv. Tancredo Neves, 2539, Ed. CEOSalvador Shopping, Torre Londres22º Andar – Sl 2206 – Caminho dasÁrvores – CEP: 41.820-021Fone: (71) 3901-1568 GuanambiAv. Sebastião de Assis Gomes,488 – Bairro Sandoval MoraesCaixa Postal: nº 57CEP: 46.430-000Fone: (77) 3452-3455 Versão © 9.0.0 Read the original article here
The Supreme Court recently issued notice on an appeal challenging the National Company Law Appellate Tribunal (NCLAT) judgment holding that the application for withdrawal of the Corporate Insolvency Resolution Process (CIRP) of Think and Learn Pvt Ltd (trade name Byju’s) needed approval from 90 percent of the Committee of Creditors. A bench of Justice Vikram…