Mumbai: The bankruptcy court in Mumbai has admitted AGS Transact Technologies for corporate insolvency resolution process (CIRP) on an application filed by the listed payment solution company‘s operational creditor Securitrans India Pvt Ltd. The National Company Law Tribunal (NCLT) has also appointed Brijendra Kumar Mishra as the interim resolution professional of the company. AGS Transact…
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CCI Approves Adani Group’s Bid For Jaiprakash Associates BW Legal World Read the original article here
SSENSE is filing for bankruptcy protection, according to a letter written by CEO Rami Attallah to employees on Thursday, per Business of Fashion. In the email, the Montreal-based company’s chief executive stated that SSENSE’s lenders aim to sell the company under the Companies’ Creditors Arrangement Act (a Canadian federal statute that allows large companies to…
Designer fashion retailer Ssense faces a liquidity crisis and plans to imminently file an application in bankruptcy court to protect its assets from indebted lenders, The Logic has learned. In an email sent to all staff this morning, the Montreal-based firm said its hand was forced by its main creditor, which it says filed its…
Atlanta Dream, Cash App launch $10 million debt relief program The Business Journals Read the original article here
It’s been 62 years since Martin Luther King Jr. delivered his “I Have a Dream” speech calling for justice and equality for all. To mark the historic moment, the WNBA team named after the speech – the Atlanta Dream – is launching a program to carry on the legacy of Dr. King’s work. The team…
Chief Executive Pål Lothe Magnussen commented on the process, stating, “AMSC has been a successful dividend distributor over the past years returning more than NOK67 per share in cash distributions in addition to the Solstad Maritime shares.” He added, “We are making progress towards a liquidation of AMSC and delisting from Oslo Stock Exchange, expected…
Home-Goods stores are one of the many American companies that are facing consequences due to high tariffs. Retailers felt forced to increase the prices of their products due to the continuous increase in tariff rates. Unfortunately, some companies are experiencing it much worse than others. Hence, this retailer could no longer keep up and was…
1. Introduction The Supreme Court’s ruling in Kalyani Transco v. M/s Bhushan Power & Steel Ltd. & Ors. addresses whether procedural irregularities that occur during the Corporate Insolvency Resolution Process (“CIRP”) are sufficient to undo an approved resolution plan under the Insolvency and Bankruptcy Code, 2016 (“Code”). CIRP leads to two possible outcomes; either the…