Country story: Senegal – Debt Justice

The West African country of Senegal is known for its rich creative scene, welcoming culture and relatively stable politics. But in recent years, Senegal has become trapped in a debt crisis that threatens to derail the country’s fragile economy.  Like many former European colonies, Senegal’s economy is geared heavily towards raw materials – particularly oil, metals, fish and cash crops – a legacy of colonial policies that reshaped economies to serve European commercial interests. This…

Barbeques Galore Enters Voluntary Administration

Barbeques Galore / Facebook Barbeques Galore has entered voluntary administration. This new development comes after the company failed to find a new buyer. Details of Barbeques Galore’s Voluntary Administration According to a report by ABC News, Grant Thornton has been brought in as voluntary administration, while receivers from Ankura have already been appointed. Liquidity issues…

NCLT Applies 3 Years Limitation [Read Order]

In a recent ruling, the National Company Law Tribunal (NCLT) Mumbai Bench has held that the 12‑year limitation period under Article 62 of the Limitation Act for mortgage enforcement does not apply to claims filed in a Corporate Insolvency Resolution Process (CIRP). The case arose from the rejection of BSEL Algo’s claim of ₹22.94 crore…