UK high-street stalwart’s restructuring approved

Court greenlights Poundland’s restructuring plan despite opposition from most landlord classes, rul… Court greenlights Poundland’s restructuring plan despite opposition from most landlord classes, ruling that the company faced imminent insolvency and dissenting creditors would be no worse off than under the relevant alternative. A High Court judge has sanctioned Poundland’s Part 26A restructuring plan after…

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NCLAT allows KMC to recover Rs 52L property tax dues

Kolkata: Holding that municipal bodies can possess statutory charges that qualify as security interests under insolvency law, the National Company Law Appellate Tribunal (NCLAT) has allowed the Kolkata Municipal Corporation (KMC) to recover Rs 51.72 lakh in unpaid property tax from a property in Kolkata owned by Talwalkars Better Value Fitness Ltd. The order by…