Picture credit: Isle of Man Salvation Army Salvation Army says the type of client coming forward has changed over the last two years A charity that provides support to those struggling with debt says there’s been a worrying increase in the number of business owners relying on credit to keep their companies afloat. The Isle…
REVEALED: Latest business liquidations in Brisbane The Courier Mail Read the original article here
The Supreme Court on Friday upheld JSW Steel Ltd.’s resolution plan for Bhushan Power & Steel Ltd. A bench comprising Chief Justice of India BR Gavai, Justices SC Sharma and K Vinod Chandran junked a previous order by a two-judge bench reversing JSW’s acquisition of the bankrupt firm for Rs 19,700 crore. The apex court…
The Supreme Court on Friday overturned its May 2 order directing liquidation of Bhushan Power and Steel Ltd (BPSL) and instead upheld JSW Steel Ltd’s Rs 19,700-crore resolution plan for the debt-ridden company. With this verdict, SC rejected challenges raised by BPSL’s former promoters and certain creditors.The apex court observed that delays in implementation were…
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In a recent case, while admitting the application filed by Canara Bank, the Cuttack bench of the National Company Law Tribunal (NCLT) has held that institution of criminal proceedings against the concerned official of the Financial Creditor cannot be a ground to reject the application under Section 7 of IBC, 2016, unlike in a Section…
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Chinese Creditor Secures Australian Asset to Help Satisfy Foreign Arbitral Award Lexology Read the original article here
‘No choice’: National manufacturer collapses after 30 years Herald Sun Read the original article here