Pharmaceutical start-up StrongRoom AI will be liquidated and its assets sold for scraps after creditors voted against a deed of company arrangement that would have allowed it to keep operating. Administrators HLB Mann Judd had recommended creditors vote to liquidate the company and sell its assets to pharmaceutical entrepreneur Joe Zhou for $3 million. However,…
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Arun Baroka (Technical Member) and Mr. Barun Mitra (Technical Member) held that when the admitted dues have been repaid by the debtor there is no point in continuing the Corporate Insolvency Resolution Process. Background Facts: M/s Rajasthan Land…
[SINGAPORE] Motoring tycoon Peter Kwee has been sued – along with his 55-year-old son Kevin and their firm Laguna Hotel Holdings – for allegedly wrongfully and fraudulently extracting and transferring value out of Laguna National Golf and Country Club to enrich themselves. For their alleged wrongdoing including the Kwees’ breach of fiduciary duties, Laguna National…
Second rescue blow for famed Perth luxury builder The West Australian Read the original article here
R-Infra gets breather as NCLAT suspends insolvency proceedings after full payment to DSPPL MSN Read the original article here
News Loop News June 3, 2025 11:27 AM ET Dolphin Cove operates six marine parks in Jamaica. (File photo) Dolphin Cove faces mounting uncertainty after World of Dolphins Inc, which owns nearly 80 per cent of the local marine attraction, filed for Chapter 11 bankruptcy protection in a US court on March 31. The filing follows…
The National Company Law Appellate Tribunal (NCLAT) has stayed insolvency proceedings against Reliance Infrastructure (R-Infra), offering the company major relief after it cleared the full outstanding amount of ₹92.68 crore owed to Dhursar Solar Power Pvt Ltd (DSPPL). The tribunal’s decision came in response to R-Infra’s appeal challenging the May 30 order by the National…
The National Company Law Tribunal Bench of Shri Mahendra Khandelwal (Judicial Member) and Shri Atul Chaturvedi (Technical Member) dismissed a petition filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (“the code”) stating that when the loan is granted without any interest it should have a consideration of time value of Money. Background…
The National Company Law Appellate Tribunal (NCLAT) has stayed insolvency proceedings against Reliance Infrastructure (R-Infra), offering the company major relief after it cleared the full outstanding amount of ₹92.68 crore owed to Dhursar Solar Power Pvt Ltd (DSPPL). The tribunal’s decision came in response to R-Infra’s appeal challenging the May 30 order by the National…
Company financial statements often contain a mix of accounting adjustments, one-time events, and complex tax situations that could obscure the performance of a business’s core operations. Earnings before interest and taxes (EBIT) can help cut through any confusion by focusing on what truly matters: the profit a company generates from its main business activities. “EBIT…