The National Company Law Tribunal (NCLT) at Ahmedabad has recently held that a settlement between an operational creditor and a suspended director cannot be used to withdraw a company from insolvency once the Committee of Creditors is in place.Dismissing a withdrawal plea in the insolvency of Vimla Fuels & Metals Limited, the tribunal said such…
NCLAT Allows Deloitte’s Appeal, Strikes Down NCLT Order in IL&FS Case Over Unauthorised Amendment Deloitte Haskins &Sells LLP vs Union of India & Ors. CITATION : 2025 TAXSCAN (NCLAT) 221 The principal bench of the National CompanyLaw Appellate Tribunal (NCLAT) has allowed an appeal filed by Deloitte Haskins & Sells LLP, setting aside a July…
NEW YORK – New York Attorney General Letitia James recently secured $2.4 million in debt relief and $175,000 in penalties, as well as other reforms, from Monterey Finance (Monterey), a financial services company that knowingly misled New York consumers with unlawful lease agreements disguised as traditional consumer financing agreements. An investigation by the Office of…
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“IBC code” most commonly refers to India’s Insolvency and Bankruptcy Code, 2016, an act that consolidates and amends laws for the time-bound resolution of insolvency for corporate bodies, firms, and individuals. The National Company Law Tribunal (NCLT) is a quasi-judicial body in India that adjudicates issues relating to Indian Companies. The National Company Law Tribunal…
Please note that by blocking any or all cookies you may not have access to certain features, content or personalization. For more information see our Cookie Policy. To enable cookies, follow the instructions for your browser below. Facebook App: Open links in External Browser There is a specific issue with the Facebook in-app browser intermittently…
Businessman Christopher Steele, 45, was behind a string of popular eateries in the Glasgow and Ayrshire areas. Christopher Steele has been hit with an 11-year ban by the Insolvency Service (Image: Ayrshire Post) The ex boss of a well-known restaurant chain has been barred from running companies for more than a decade. Christopher Steele was…
McLaren Vale winery in administration but vows to keep trading Australia’s Wine Business Magazine Read the original article here
Australia’s environmental not-for-profit Planet Ark goes into voluntary administration MSN Read the original article here
Adelaide-based discount retailer Palcove Pty Ltd, trading as Cheap as Chips, has entered voluntary administration and signed a sale agreement with Choice the Discount Store, subject to a proposed business restructure. WLP Restructuring Partners Glenn Livingstone, Benjamin Ho and Nicholas Charlwood have been appointed as voluntary administrators of both Palcove Pty Ltd and its subsidiary…