The National Company Law Tribunal (NCLT) Mumbai bench of Justice V.G Bisht, (Retd). and Prabhat Kumar (Technical Member ) has held that even in the absence of a NeSL certificate, an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 can be admitted if the disbursal of the loan amount and occurrence of…
Byline Times is an independent, reader-funded investigative newspaper, outside of the system of the established press, reporting on ‘what the papers don’t say’ – without fear or favour. For digital and print editions, packed with exclusive investigations, analysis, features, and columns…. The UK Government is one of the biggest obstacles to the world’s poorest countries…
The Delhi bench of the National Company Law Appellate Tribunal (NCLAT) quashed a resolution plan for Twenty-First Century Castings Pvt. Ltd., noting violations of the Insolvency and Bankruptcy Code (IBC), 2016, and failure to settle statutory dues owed to the Gujarat State Tax Department. The main issue in this case was whether government tax dues…
FAB, with the new eMACH.ai Lending platform, will be able to create collection strategies and streamline collection processes to reduce recovery costs. kingma photos / Shutterstock. First Abu Dhabi Bank (FAB) has deployed a debt management solution from Intellect Global Consumer Banking (iGCB), a unit of Intellect Design Arena. The system is part of Intellect’s…
UK-based fintech company ClearScore has expanded its partnership with Oakbrook to grow the availability of direct settlement debt consolidation loans. Since 2016, Oakbrook’s debt consolidation loans have been available to eligible borrowers through ClearScore’s marketplace. By expanding their collaboration and integrating ClearScore’s Clearer technology, the two companies aim to allow loans to come with a…
Lacking solutions, LeddarTech announces it will file for bankruptcy Montreal Gazette Read the original article here
The fall of Hudson’s Bay and Saks Fifth Avenue Canada may give the impression that one of the hottest trends this year is the distressed look, but retail and insolvency experts say the company’s demise is part of a now-annual pitter-patter they expec The fall of Hudson’s Bay and Saks Fifth Avenue Canada may give…
Retailers are in trouble and there’s more to come: insolvency, restructuring experts MSN Read the original article here
Lars Windhorst’s Tennor Holding declared bankrupt Financial Times Read the original article here
The National Company Law Appellate Tribunal, Principal Bench, New Delhi, comprising Justice Rakesh Kumar Jain (Member-Judicial) and Naresh Salecha (Member-Technical), has allowed an appeal filed by the operational creditor. The issue before the tribunal was whether the threshold has to be seen at the time of filing of the application or at the time of…